Offering Black Friday deals as an artist can be a great way to boost your sales and attract new customers, but it’s essential to balance discounts with your need for profit. Here are five things to consider when creating promotions for your art:
Determine Your Discount Structure:
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- Decide on the type of discounts you want to offer. You can create a percentage discount (e.g., 20% off), a specific amount off (e.g., $50 off), or buy-one-get-one (BOGO) deals.
- Calculate the minimum discount that still allows you to cover your production costs and make a reasonable profit. Ensure the final price is attractive to customers and you don’t operate at a loss.
- Consider if you even want to create a discount. Do your customers buy from you because of a higher perceived value? If so, discounts may hurt your art business.
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