Why is customer acquisition more important than other metrics?

New customers are the bread and butter of the art business because they have the potential to turn into collectors. A collector is someone who will purchase from you again and again over the years—they’re the force multiplier of any art business. You don’t know which new customers will become collectors and which won’t, so it’s a volume game. The more customers you acquire, the more potential you have for some to turn into collectors who provide recurring revenue just for continuing to create.

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Asked by general teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2023-03-01