How do I know what price points to offer?

Think of your audience as a bell curve. On one end are people with no money who won’t buy anything. On the other end are people with plenty of money. In between is everyone else. If you only offer high-priced originals, you’re ignoring most of the bell curve—people who love your work but can’t afford those price points. You need variability: prints, smaller pieces, merchandise like phone cases, tote bags, puzzles, mugs, etc. These lower price points let people buy from you, have a great experience, and build up to higher purchases later. Don’t go into the fight with one arm tied behind your back. Offer a range so everyone can purchase something.

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Asked by an artist wondering about pricing strategy · Answered by Patrick Shanahan · art-marketing-podcast · 2021-01-05