Do you know how to increase the profits of your art promotion? You will when you read this article on implement the Marketing Rule of 3 in your art promotion In direct marketing, every marketing piece is measured as far as how many postcards, direct mail, fliers, catalogs, etc was sent, who was contacted and who responded.
An example of this would be if you mailed out 500 postcards, you would want to measure how many people responded to the postcards and exactly who responded.
The reason you track and measure of all your marketing efforts is so that you can: 1) Determine your response rate.
(The response rate is the percentage of people who respond to the art promotion.
) 2) Measure your cost per response.
(How much it cost to get each person to take the desired action of the art promotion.
) 3) Calculate your overall profitably of the campaign.
(Think of this as your return on investment of the art promotion.
) To increase the maximum effectiveness of the overall promotion, it is important to remember to contact your clients at least three separate times to generate the highest level of response.
Normally, with direct mail, the second and third time you contact the person will double whatever the response rate is from the first mailing.
For instance, say you are doing a special art promotion for an upcoming art show.
It is important to contact your clients at least three times.
Each contact can be a different type of media for instance.
Art Promotion Example: 1) Teaser Postcard: Announcing the art show and encouraging the client to respond and sign up early before xx/xx/xx date to be entered into a special drawing for a limited edition print.
2) Email: Send a personalized email to those who don't respond to the teaser postcard, announcing the show, respond and sign up by XX/XX/XX and be entered to win a limited edition print.
3) Send an upscale invitation to the show, inviting clients to the show.
The sky is the limit on the three ways you choose to contact your clients, just make sure that each media can be measured, so you can determine the overall response rate.
You may want to know, what are some typical response rates that you can expect to achieve from your promotion? A typical good response rate when mailing to prospects that are not familiar with your art is between 1-2%.
Even at these low percentages the art promotion can be extremely profitable.
Response rates from art promotions to clients that are familiar with your art can be much higher.
These response rates normally depend on your list, how often you contact them, the market you are in, along with many other variables.
Recently, I heard an artist talking about how she sent postcards to her clients about an upcoming show.
Next, she mentioned that only between 20 to 30% of the people show up from the postcard promotion.
Only twenty to thirty percent attended from all of the clients she contacted? Let us analyze this statement in more detail and see how these numbers actually break down.
At this time, there is no way of knowing how many clients she actually mailed the postcards, but let's just use this scenario as an example.
If she mailed out 1000 postcards at a 20-30% response rate, that would be between 200 and 300 previous clients of hers attended the show.
These clients are not people who are just strolling by the gallery and just happen to see that there is an art show going on.
These clients are people who have: 1) Purchased from her in the past.
2) Are most familiar with her work 3) Are the people mostly likely to purchase something else from this artist 4) Are some of her most loyal clients This is a very good from an art promotion standpoint, because these are the people who are most likely to purchase from this artist in the future.