With many collectors, the sales process isn't always fast. Oftentimes art consultants must follow up repeatedly with a client before closing a deal. But the more drawn out the process, the more likely it is that the sale will fall through.
To prevent this loss of momentum, speed up your art sales by creating a sense of urgency in clients' minds. A sense of urgency prompts them to take action and complete the sale.
You can create a sense of urgency through something as simple as word choice and how you frame your messages, or even by making a client an offer that feels special and exclusive.
If you haven't heard the term FOMO before, the acronym stands for "Fear of Missing Out." Even though we're not in middle school anymore, we're still swayed by the power of popularity and the idea that we may be missing out on something that someone else gets to enjoy.
FOMO can be a great way to instill a sense of urgency in your clients, and can be done in a variety of different ways:
Nothing creates a sense of urgency like the idea that time is running out, or that the optimal window of time to make an investment may pass. Real estate agents, for example, use this technique all the time.
Just be sure to leverage time in a tasteful and sophisticated manner, rather than in a used-car-salesman, this-weekend-only kind of way.
For many collectors - especially younger ones just beginning to collect - spending thousands of dollars on an artwork is a big decision. Understandably, it can take some time before a person is ready to make a big ticket purchase.
You can make it easier for collectors to take the plunge by helping them feel confident that they're making a good decision and facilitating the sale for them.
Some ways to lower hurdles in the sales process:
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