What should my overall strategy be for growing an art business?

Start with the end in mind and work backwards—like solving a difficult puzzle. If your end goal is a successful art business growing year after year, the path is clear: acquire as many collectors as possible by first acquiring as many new customers as you can, year after year. Put in place the best marketing and pricing strategies to maximize new customer acquisition. Then foster those relationships by marketing consistently to every new customer and never stopping. Do that, and some percentage of new customers will buy again, then again, becoming lifelong collectors. That’s the entire business model. You focus on acquiring customers and marketing to them consistently—those are really the only rules.

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Asked by general teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2023-10-16