Warhol Fetches Millions while Met Home Crashes: How to Sell Through the Contradictions.

In 1 on November 12, 2009 at 3:35 pm

In a week that has produced both a miracle on the auction block ($43+ million for Warhol’s “200 $100 Bills”) and another  disaster on the magazine front (Metropolitan Home closes) – it is clear that  another set of dealers will suffer the effects of a contested economy.

While the sale of “200 $100 Bills” indicated the big money is feeling secure enough to start buying again, the closing of Metropolitan Home has broader implications.

Met Home was the mecca of modernist designers. Comfort and joy no more.Its closing imperils the modern decorative arts dealers who have, until recently, not been as hard hit as those selling traditional decorative arts.

With the decorative arts market now completely trashed,  the marketplace will contract once again. Who survives to cash in on the discretionary funds that are available will depend on who can react quickly to change their mindset about promotion.

Before you can move the pendulum, you need to have honest, analytical answers to these eight questions.

  1. What can I do differently now than I did in the past?
  2. Am I pinning too much on a website without finding  pro-active ways of driving traffic to my site?
  3. What can I do to improve the length of time people spend on my website?
  4. Am I signed up with a directory?
  5. Is it the right directory or is there a better one for my offerngs?
  6. Do  I know how the directory administrators are driving traffic?
  7. If social networking,  am I working the ones or am I stuck on Facebook?
  8. How many click throughs are my newsletters generating?

The days of a product based marketing mindset are over.  Going forward, it’s keep up or step down.

Bear in mind that most buyers don’t get an advertiser’s message until they have seen it about twelve times. That means, you need to adopt a dedicated program of marketing.

While we can help you map out a plan that will work, here are eight PR strategies you can implement yourself.

  • Get your press release mojo working. The internet is filled with free distribution sites that are the working capital of bloggers and journalists.
  • Be sure to submit press releases that are newsworthy. Load them with keywords.
  • Write articles on your specialty. Include inbound links to your website. Post on your website and the websites set up to distribute them.
  • Re-think your social network strategy.
  • Post videos on YouTube. Don’t worry about production value; it doesn’t count for much these days.
  • Write interesting, action oriented newsletters.
  • Evaluate and kick up your ad plan.
  • Double check the benefits of all the directories. You may need to sign on to more than one.

If you want to talk through some of the points, please don’t hesitate to call me.  Together, we can help your business survive and prosper.

Andy Warhol

The artist's painting kicked up the contemporary art market


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