Navigating the Different Types of Art Buyers

2 weeks back I wrote about the importance of artists connecting with their audience.  In the blog I talk about the importance of creating vivid buyer personas.

If you've been in the art world for some time, chances are you've come across three distinct types of art buyers: those who make a single purchase, those who indulge in a buying frenzy, and the steady customers who return periodically to acquire your artwork over the long haul. Grasping these buying patterns can significantly enhance your ability to cater to your customers and boost your sales. Let's delve into each category of buyer and gain insights into their dynamics.

The Singular Act: The One-time Buyer

This category is pretty self-explanatory. These buyers make a single purchase and don't return for more. Several reasons could contribute to someone becoming a one-time buyer.

They might have stumbled upon your art by chance and appreciated it only on a surface level. Alternatively, a passerby might have seen your art displayed, leading them to make an impulse purchase.

Sometimes, they were on the lookout for a specific kind of art and found yours, but it didn't resonate deeply with them.

There's also the possibility that they genuinely loved your art but had budget constraints, limiting them to just one piece. Alternatively, they may have acquired the perfect artwork for their living space, leaving no room for additional pieces.

The question often arises – "How can we convert more of these one-time buyers into long-term collectors?" More on this aspect later.

The Energetic Frenzy: The Frenzied Buyer

On the other end of the spectrum, we have the frenzied buyers. They acquire a substantial amount of art either rapidly or over a relatively short span.

There are a few reasons why individuals fall into the frenzied buyer category. For one, they might have recently discovered your art and fallen head over heels for it.

Another possibility is that they need to quickly fill a sizable space, like a new home, and seek to amass an impressive art collection in a short time.

Lastly, art investors aiming to swiftly build a collection of your work might also exhibit frenzied buying behavior.

Frenzied buyers can be excellent customers as they make multiple purchases swiftly. However, their buying spree may be finite – once their project is complete or their enthusiasm wanes, they might halt their purchases altogether.

The Steady Progress: The Slow and Steady Buyer

This is the type many gallerists and artists hold in high regard. They make deliberate, gradual purchases over time, typically acquiring one or two pieces annually.

Several factors might lead someone to become a slow and steady buyer. Initially, they might need time to warm up to your work. An initial purchase could initiate a gradual appreciation, fostering a growing affinity for your art and a personal connection with you. This often translates into additional sales over time.

Alternatively, these buyers might desire to build a carefully curated collection of your work, waiting for the right pieces to come along before making a purchase.

Finally, some slow and steady buyers may have limited disposable income, allowing them to invest in one or two pieces per year.

The slow and steady buyer's value extends beyond sales – they tend to develop a deeper personal investment in you and your art. These customers enjoy witnessing the evolution of your work and career, forming enduring relationships.

Slow and steady buyers often cultivate the most rewarding relationships and often become your most cherished customers.

Determining the Best Buyer Type

So, which category of buyer is the best? The answer lies in recognizing the value each type brings – all of them are integral to your success.

One-time buyers are valuable contributors to your art and career, constituting a significant portion of your customer base.

Frenzied buyers make multiple purchases quickly, providing substantial short-term gains.

Slow and steady buyers offer enduring support, often becoming personally invested in your art's journey.

To optimize sales and minimize risk, it's ideal to have a mix of all three types of buyers. While most marketing efforts focus on attracting new buyers, nurturing existing relationships is equally crucial.

Reflect on your past year's sales – if fewer than 20% comprised returning customers, it's essential to strengthen those connections. Are you engaging with your customers through emails and social media? Are you updating past buyers about new work? These interactions present a significant opportunity to boost your sales potential.

Particularly, consistent communication after a purchase can be impactful. Sending follow-up emails with additional artwork fosters engagement.

Here are some strategies for building robust customer relationships:

• Forge personal connections, delving into their lives, interests, and artistic preferences.

• Sustain communication during lulls in purchasing, extending holiday and birthday greetings, along with updates on art exhibitions.

• Offer exclusive privileges, such as early access to new artworks and complimentary shipping on future orders.

• Extend invitations to exclusive events, granting them a peek into your creative world.