Can insights into your art business help your career?
Getting insights into your art business helps you stay on track, put your efforts into what's working, and eliminate what isn't.
Monitor your artwork's performance across the board with charts and maps filled with the most vital information about your art business with Artwork Archive.
Shine a light on key insights to help you measure your success and improve your business strategy. Whether it’s knowing the value of your inventory versus your sales or understanding which galleries are pulling their weight, these numbers help you make informed decisions about growing your business.
Once you know where you stand, you can make an informed plan for the future.
Here are four key numbers to watch to better your art business and a simple way to analyze them.
Know the size and value of your art inventory
Knowing the size and value of your inventory will help you know where you stand in your art business. Find the value of your inventory at a glance and analyze these numbers to know where to focus your energy.
If you've emptied out your inventory by the end of the year, you can give yourself a pat on the back. If you’re left with too much inventory at the end of the year, you can use this information to plan your future sales strategy. You can also use the number of pieces to see how much art you produce each month and each year as well as for tax and insurance purposes.
"I do love this program. Yesterday, I was asked how much I wanted to insure my work for in the new studio. Boom. In 20 seconds, I knew the answer of how much work would be there. It makes inventory, sales records, etc so simple. Totally recommend this program." - Linda Richicci
Track your production and sales over time
The value of your inventory versus your sales can shine a huge light on your art business strategy. If you have thousands of dollars worth of inventory, that means you have thousands of dollars worth of potential sales. Consider slowing down production and focusing more on sales and marketing.
Inventory dwindling and sales soaring? Better get back in the studio and create more art to sell. The more aware you are of the value of your inventory versus what you’ve sold, the better you can plan your days.
Consider which galleries are selling best
Keep tabs on how your galleries are performing. If one gallery is selling all your pieces quickly, you know it’s a winner. Follow up with them and make sure they have everything they need. It’s also important to know if a gallery is very slow with sales. Or worse, if they don’t make any sales.
View how your artwork is distributed and the dollar value of your artwork at each location.
You can use this information to reconsider the location of your art pieces. It will also help you see which cities or parts of the country are best for your art sales. Then you can seek new places to sell your art in those locations. Being informed directs your efforts in the best way.
Understand Your Expenses Versus Your Income
Understanding this aspect is especially important when looking at where to show your artwork. Generate sales reports to get a better handle on the income and expenses of your art business.
How Can You Easily Track and Analyze Your Numbers?
The Artwork Archive’s Insights Page makes art business insights simple. It shows you easy-to-read charts like piece count and piece value. You can track your inventory, work for sale, and work sold at a glance. You can also see the value of your work at different locations and measure your production and sales over time.
