What are the most important metrics for growing an art or photography business?

The two most important metrics for long-term growth and revenue potential are: First, your collector list—both the size of it and the overall health of it, meaning how often you communicate with it and make collectors feel special (like watering a plant regularly). Second, the number of sales campaigns you run per year—this is directly proportional to your business revenue. These two metrics are either the number one or number two most important factors, and the jury is still out on which ranks first. If you cannot grow a collector list, such as when working exclusively through galleries that don’t share customer information, this is absolutely devastating to your ability to build a sustainable business.

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Asked by synthesized from teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2021-07-19