How your “slowest” seller could actually be your best marketing.
There are two tenets in business that everyone accepts as true:
1. You should figure out what your most popular product is, and sell the heck out of it.
2. You should figure out what your least popular product is, and get rid of it.
In fact, I read it again just a few minutes ago.
Here’s a little story about why you should reconsider step 2.
I’ve been a long-time CVS fan. While waiting for prescriptions to be filled, I would wander the aisles shopping. (In fact, once our insurance company switched to Medco’s online pharmacy, our “miscellaneous” expenditures dropped enormously.)
CVS is losing me as a customer to Walgreen’s. Why?
They no longer carry three products that I love:
b) Dr. Scholl’s pedicure file (probably because their store brand is cheaper, though not nearly as good);
c) and they don’t carry dental wax (which I want to use to position jewelry for photography.)
Probably because they were slow sellers. Or they had a store brand they wanted to push. I dunno.
But guess where I’m finding these products now?
Okay, to be perfectly fair, the makeup remover is getting harder to find anywhere. I suspect the product is going through a makeover.
But my point is, wherever these products are, that’s where I’m going to go to get them.
Our local grocery store does the same thing. It introduces new products which I love, and discontinues them when they aren’t big movers.
Other grocery stores pick them up–and that’s where I go to get them. One carries my all-time favorite fruit-infused vinegars. (People, these are amazing to use in homemade salad dressings.) I go to another for my Ghiradelli hot cocoa.
So every month or so, Hanniford’s does not get my $200-$300 grocery bill.
So sometimes your slowest seller can be a draw to very passionate users/buyers. People who will look elsewhere if you drop it, like my favorite pear infused vinegar.
Sometimes an item sells slow because it’s really expensive, or very unusual. It can still be a huge draw to your other work. And it can make the rest of your work seem more affordable. I don’t sell too many $5,000 wall hangings. But when I do a) it’s the equivalent of selling a hundred $50 items, and b) it does a bang-up job of publicity.
Sometimes a “slow” product will come back around. I hadn’t sold much fish jewelry in years. Maybe their time was over? When I put my “business hat” on, I considered dropping it. When I put my “artist hat” on, I realized it still had a story to tell. And guess what? I’m now selling more fish.
Or perhaps it just hasn’t had time to catch on yet. I hardly sold any sculptures when I first started out. Just when I was about to lose hope, sales took off. Plus, turns out they fill a major niche as a gift for guys. I would have lost that marketing opportunity if I’d given up too soon.
Maybe your slow seller is something that sets off the rest of your products. Years ago, a friend had a yarn store. She didn’t carry any yellow yarn, because “it didn’t sell.” I showed her an article by a color designer for a local yarn mill. The designer said every line should have a yellow “because it fills out the color wheel, and makes other colors sing.” The store owner added yellow, and her sales rose.
Maybe your slowest seller is a dog* because of very good reasons. It’s out of fashion, you make a better one now, or you can’t even get the supplies to make it anymore.
But unless you’re sure it no longer serves any purpose, consider it a small price to pay for a few very special, very passionate customers.
Because any customer who is passionate about your art is sharing that passion with a lot of other people.
And that’s a good thing.
P.S. I apologize for calling any part of my/your art “a dog”. Just trying to give some good business advice here, as well as good artistic advice.