Hi friends! Tomorrow is the fist day of June and I have already been seeing calls for vendors at local sidewalk festivals, farmer’s markets and community fairs hitting my Facebook wall. If you are considering selling your art work or crafts soon check out tonight’s video where I tell you about the 4 P’s of Marketing!
All it takes is one of these elements to be off to lose sales. So let’s take a closer look at them:
Product: This is your beautiful artwork. Whether it is a painting, a necklace, cards or purses this is the thing you make. You need to take a good hard look at an item you want to sell and ask yourself “Would anyone want to buy this?” and “Who would want this?” You need to keep that person in mind. Sometimes what you make for yourself because you love it will be different from what you would make to sell, for instance, I love bright colors and bold patterns so that is what I make to keep but what I make to sell will be more on trend and conservative because most people do not dress like me and they might even think that purple, orange and turquoise clash, hard to believe I know.
Price: How much you will charge for an item. Generally it is figured by the cost of raw materials plus overhead (labor and overhead like a % of studio rent and utilities, packaging etc.) plus a profit margin. You are probably thinking “Hey, I am the labor, why do I need a profit on top of that?” Because there may come a time when you need to hire help to fill or package orders and you will need to account for that expense as well. You also need to temper this price by what the market will bear and what other artisans are charging for a similar product so the price you can charge in a ritzy city will be different that what you can get in the country but it is a starting point anyway.
Place: This is where you are selling your goods. Don’t expect to get Upscale prices if you are selling your jewelry at a yard sale (Top tip from RichMomBusiness.com BTW!) Your items need to be sold where the customers will value them. Fun and funky costume jewelry will go well at casual festival while more upscale pieces will sell better in a gallery setting. I have a rented booth in an antiques mall that works great for selling my cards, earrings and watercolors as they make great add-on purchases for items customers buy from other vendors. You might also decide that your local economy is not diverse enough to find enough people who want to buy your wares and selling online might be a better bet for you. BTW, RichMomBusiness has a free ETSY Webinar coming up if you wanted to check it out.
Promotion: This one I save for last but it is equally as important because what is the point of making all the beautiful things to sell if nobody sees them? When you are picking a place see if there is any promotion included. Is the festival advertised? If you are selling in an online multi vendor marketplace does it have built-in traffic? if you are making your own website from scratch how are you going to get people to see it? Now it is so easy to get the word out via social media and ask your friends to share it too expanding your network because it only takes a second to hit the share button. Maybe you will post some flyers on community bulletin boards or offer a coupon for a free trinket to shoppers ahead of time. Don’t skimp here, this is probably the hardest, out of the comfort zone, “P” of them all but it has to be done if your business will be a success.
Now I ask YOU, have you ever tried selling your work? How did the “Ps” fit in. Can you identify any parts of your marketing plan that were off? If you want to make money selling your work I advise that you jump in and try. You will learn more from your failures than your successes so if you compare the cost of a bad craft fair vs. the cost of a business class it was a sweet deal on education! You learn by doing, these tips I share are to get you started so hopefully you can learn from my experience and grow faster. Good luck!
I want to take a moment and thank Renae Christine from RichMomBusiness.com for sponsoring my YouTube videos during the month of May. This gal knows her stuff especially about selling handmade items online. You can check out her FREE 3 handmade training video series here and tell her “Hi!” from me. She can teach you way more about online sales than I ever can and her tips even help me with my brick and mortar sales. Thanks for stopping by and til next time happy crafting!