SO YOU’VE GOT THE SALE. NOW WHAT?
This video is actually from 2018 but I rewatched it and thought is was relevant and still spot on. In this video I discuss the work that happens after the sale.
You might think that you've got the big win after you close a sale but that is where the work of getting the most return on your effort and investments begins. Your best new collectors are your prior collectors. However, you need a strategy for reaching out to them. Patience and tradecraft are your assets here. Take a look at how I increased sales from Redmond Art Festival from $23,000 to $25,500 and on to $31,500.
After I finished this video, I called Doug. Doug is a collector of mine in Las Vegas who owns Solitude, Ice Cave With A View, and Moon Over Mt Baker. We've talked about Tree of Fire multiple times and, emboldened, I gave him a call and pitched the one behind my desk to him.
Doug ended up collecting Tree of Fire in 2019. In 2020, Doug also bought a first edition of Wandering Star. Find people like Doug and cultivate those relationships.
To drive the point in a litter further, here is another video installation about selling to them after you’ve sold to them.
LTV: Life time value of a client is the expect earnings you can get expect from a collector over the life of their relationship with you, For me, this number is about $7,000 or two pieces of art. Whether that be from two sales or a single sale, I know that I should keep a new customer in the loop and on my radar at least until I’ve acquired that second sale.
This video reviews four of the second+ sales I had this year. It’s a candid discussion on how these sales came about. Hopefully it will help you find more value in your customers and see how the course comes together.