Karma Economics: The benefits of showing gratitude

Artists who establish strong relationships with their collectors will always have an edge over those who don’t. If someone buys your work and you do not follow up or attempt to get to know them better, then you have wasted an opportunity at gaining a new advocate for your art.

The law of reciprocity

When people do nice things for you it feels great! And when there is an opportunity to return the favour you’ll be more inclined to do so; it’s human nature. Which is why you should be doing fun and thoughtful things for the people that count.

Five simple ways to offer value

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1. Say thank you

I recently created thank you cards to include with all sales in 2020. When I sell prints through my online shop I rarely get the chance to meet buyers, so adding this little touch communicates to them my gratitude and a little piece of me. The additional links to my Instagram and website are especially useful if the artwork is a gift for someone unfamiliar with my work.

2. Show your appreciation

This Christmas I sent some mini limited edition prints to some of my best collectors with a hand-written letter of gratitude. It did not cost me a crazy amount of money, and in response I received emails saying they loved it! Some even said that they intended on buying more paintings in the new year. A simple nudge at the right moment can gear people up to buy your art.

3. Wine & Dine

80% of your business comes from 20% of your customers. These valuable individuals should be treated as VIPs. In early 2019 I organised a dinner for a number of my top collectors, and displayed some of my latest paintings on the night. It went fantastically and I ended up selling a very pricey artwork to one of the attendees. Big business is made over client lunches and entertainment, that’s one thing I learnt from the suits in the city.

My collectors supper club in March 2019, at Brother Marcus in Balham.

My collectors supper club in March 2019, at Brother Marcus in Balham.

4. Be a friend

When someone buys your work why not invite them for a beer or take them to an exhibition? Whatever friendship looks like to you try to include them. Some of my collectors have ended up being great friends and close allies in my career. By understanding them better you will understand the connection people have with you and your work.

5. Introduce them to people

You can offer value to people through your connections. So if you have a collector looking for something that you don’t create, introduce them to an artist that does. That artist may return the favour one day when they are more successful.

Selling luxury

As an artist you are selling a luxury. With paintings that can easily hit four figures your artwork is one of the final things on people’s hierarchy of needs. First they need to cover the basic costs of life such as food, accommodation, bills, transport, drinks, etc. Only when people have all of the above will they consider purchasing an original artwork. When spending a lot of money they expect good service. It is your job to enrich the experience for every person who comes in contact with you and your artwork. To embellish all points of contact with thoughtfulness and to demonstrate quality.

So say thanks, make new friends, connect people, and have fun! Developing relationships will push your career and more importantly your life into a more successful and enjoyable journey.

Happy creating!

Tom