What's the easiest way to attract high net worth art buyers to my business?

The easiest way to attract high net worth buyers is paradoxically by not targeting them directly at all. Instead, focus on consistent, year-round marketing to your entire audience. High net worth individuals exist within a bell curve distribution of your followers—along with lower, middle, and upper-middle class followers. Rather than trying to isolate just the wealthy segment, understand that everyone in your audience knows someone, and those connections create serendipitous opportunities. The person who actually buys might be referred by their daughter who follows you on Instagram, or through some other unexpected connection. Consistent marketing lifts the entire bell curve and produces better ROI than trying to target wealthy buyers directly. Most major sales to high net worth individuals happen through these indirect, seemingly random connections—not through deliberate targeting.

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Asked by artists seeking wealthy collectors · Answered by Patrick Shanahan · art-marketing-podcast · 2021-02-03