Trade-ins as upgrades

In response to last week’s newsletter on offering upgrades, Tina Mammoser commented:

Tina Mammoser, On the Sands, ©The Artist

Tina Mammoser, On the Sands, ©The Artist

Basically I offer a trade-in on paintings for the current sale value towards a larger painting. It’s win-win: some collectors may not be able afford the high price of a larger work, or they might prefer something bigger rather than building a set. The collector also gains from the increase in the value of my work too since I trade it for the current value of that size.

For me I get back smaller works that are still sought after. In the current economy I see that as a big benefit for me. There may be more demand for smaller works and upgrades can help me keep a good range of smaller pieces on offer while also allowing me to continue creating the larger paintings.

I read somewhere that gallery dealers often offer the same–a trade-in–to their best customers who want to upgrade. Might not be a bad idea.

But how would you announce it loudly? Post it on your site?

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2 comments to Trade-ins as upgrades

  • I think this is a great idea! I don’t think I would announce it on my site, though…..seems like it is a benefit you want to offer to your collectors. I think I would do a mailing or an email announcement directed to those collectors, or maybe even to my general list. I just did a blog post announcing a significant savings on my large size giclees. My original idea was to use Flickr and put a badge or a slide show on my blog. But I couldn’t get either of those to work, so I ended up putting a link to my “set” on Flickr which showed the selection available. Then I sent out an email “flyer” with the info and the link. That worked quite well, & I got a decent response.

  • Ah, this is where my sales experience kicks in! The best way to announce it loudly is to simply talk about it. IRL: When people are flagging on any sale, and you are there to speak with them face to face, let them know they can trade it in later for the later value. Sell the service itself for its own sake, since it is such a great idea. Talk to people and make sure they -know- you have -their- best interest in mind. Be honest about it, and show you understand their situation. :) Put it in brochures either as it’s own page, or as a half page. Come the Holidays, you could re-announce it in its own brochure. Email lists, just have it noted in the bottom of every mail as a footer with your contact info for “More Info!” Keep this small, but not tiny. Your main content in your emails should be the main focus. But the constant reminder will drill it into people’s heads. In a Gallery setting, if you can, have a small kiosk or stand that talks about all your services as an artist (some galleries may not allow this, so check to be sure). If you go to conventions or trade shows, just talk to people in general. For example: Selling GS cookies with my daughter, I’ve gotten a number of the new cookies to sell by educating the folks who came up for the normal cookies. We also do a “cookies to troop” deal that most folks don’t realize. I tell them, “this isn’t something you have to do now, but I wanted to just let you know that most of the troops are doing this. So if you see a troop and don’t have enough for cookies, or have enough cookies at home, consider dropping off a quarter now so the troop can send cookies to the folks over seas. *BIG GRIN*” Let it be -their- decisions, but make it sound like the perfect idea. Never force- sell something. (This is why I couldn’t do the carriage tours because we had to force solicit people and I hated that.) Online make a small banner, or “coupon” looking graphic and put it near the bottom of your menu (if vertical) or near the footer. People will see it. Add it to your shopping cart as a small advertisiment. (This acts in the same way that end-caps at the registers do in a retail store. “Last minute purchase”). If you make it a link, have them sign up for “more information”. Then send them a small PDF or e-book about the service. :)