Should I run sales and discounts on my artwork?

Yes, you should run sales. The equation is simple mathematics: discount plus scarcity equals human beings more likely to take desired action. For example, “15% off until Monday at midnight” creates both the discount and the scarcity that motivates purchases. The only retailers that don’t discount are brands like Tiffany’s and Louis Vuitton, and building that kind of brand strength is extremely difficult. For centuries, retailers have known this equation works. When you mark up your work properly (especially in the mid-range), you create room to run sales without hurting your margins. Stop trying to reinvent the wheel—sales work, and you should run them regularly.

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Asked by an artist worried about running sales · Answered by Patrick Shanahan · art-marketing-podcast · 2022-06-06