What specific equation should I use when planning sales for my art business?

For sales specifically, the equation is: (A + B) × C. A is the incentive—this could be a discount like 25% off, free shipping, buy-one-get-one-free, hand-signed by the artist, or any offer. B is scarcity—the fact that the incentive expires, whether in 24 hours, two days, one week, or today only. Together, A and B are psychological devices to get buyers to take action. C is attention—how many people see your offer. You can have the most amazing incentive and scarcity in the world, but if you don’t have attention, nobody will see it. It’s like the tree falling in the forest—if nobody’s around to hear it, does it make a sound? The attention multiplier is what makes or breaks your sale.

---

Asked by artists planning sales campaigns · Answered by Patrick Shanahan · art-marketing-podcast · 2020-10-21