This topic was covered in the Economist article Something doesn’t add up. In a following issue, a reader wrote a letter noting consumer psychology:

A price tells you much more about a product than merely what it costs. A price cut may be sensibly perceived as a mark of mild desperation on the part of the seller…Charging the full price but adding something extra does not convey the same desperation…

There is definitely something to this logic. When I see a packaged food product on a clearance shelf, I am always in a bind. I want to save money, but I know the clearance shelf is a bad signal. The product might be there since it tasted horrible and no one bought it. Or, it could have been an overlooked gem. But even if I truly love it, since the store is clearing its inventory, that means I’ll be unlikely to find it again. I’m screwed if the product is bad or good.

Anyway, this is my argument for offering bonuses to people for buying your artwork during a giveaway versus purchasing your artwork at a discount. I think it’s pretty convincing.

What bonuses did I give?

I offered a second poster as a bonus with my giveaway. Essentially, it was ‘Buy One Get One,’ only, they were offered a specific bonus poster and only “while supplies lasted.” I rotated new bonus posters into the giveaway which served to entice a defferent segment of the audience as well as provide me fresh content to share.

So, what could you offer as a bonus. What would make you want to buy a piece of arAllow me to brainstorm for you:

1. A bonus piece of art

   1. This bonus could be the same size or a complete different format. Example: a set of greeting cards or an acrylic table artwork.

2. The bonus could be to enter the customer into some new drawing, maybe for a more expensive piece of art.

3. Individualize the experience/artwork. You could personalize each purchased art work with a note or custom signature.

If you have great bonus ideas for the group leave them in comments and I’ll add them to the list.