© Greg Spalenka

It is amazing how much time can be taken up by doing research. After a day of scanning the internet looking for venues and blogs to connect with, checking out supplies, seeing what others are doing can sometimes feel like wasting time. But it isn't!

Market research is vital for your art business. Unless you are making art for a hobby or part of the old paradigm of hoping your gallery will do it for you then you are the marketing research department. You can team up with others to glean the gems each has found but most likely you will have to focus on your own products.

Most artists underprice their art. A formula that works for most products is-  Materials + Labor + Expenses + Profit = Wholesale x 2 = Retail

Here are two articles from Etsy that offer some good advice on price points. Some of this info pertains specifically to Etsy but much of it is simply good marketing sense.

A Simple Formula for Pricing Your Work

Market Research Tool Strategies

In November of 2009 Parade magazine printed an article called Can Art Save a Mall? by Susan Fine. When too many stores came up empty at a large mall in the St. Louis area the owners decided that instead of demolishing it they would offer the spaces to artists for $100 per month, plus utilities. Art galleries, a dance studio, museum, etc. were created. Not only did it give arts groups a home it also increased traffic in the mall for the other stores and restaurants. I bring this article to your attention because its exactly this alternative approach to artist promotion every talented entrepreneurial soul can embrace.

In this instance the owners of the Mall took the initiative, but creatives can do the same by starting their own venues. Consider this group of frustrated artists disappointed with the size of the San Diego Comic Con (its gigantic). They are producing their own more intimate convention called Creator-Con. Here is an interesting take on this new venue on the Blog Cartoon Brew. The power of an idea whose time has come can manifest quickly if  desire, focus, and energy is placed behind it.

Start your own alternate showcase, gallery, convention, art faire, artist workshop, etc. What are some cool ideas you have thought of or heard of recently? How about some artist marketing brainstorming?

To artist empowerment!

Greg