Have you felt a little nervous to raise your prices? Personally, I over think this a lot.
It’s so dang hard to know what the ‘sweet spot’ is for the things I’m selling. When I wasn’t selling a whole bunch, I had a bit of mental drama over raising my prices, even in an almost unnoticeable amount.
With each new body of work, you and I get to look at our pricing again, and decide if we feel like it’s going to sell for that amount. Kinda nerve-wracking stuff.
But there is one dead easy way to raise your prices.
When you learn this, it’s going to feel like a hall pass to charge more. Without doing a thing.
Should You Charge More for Your Art?
Figuring out how to put a price on your art can lead to SO MANY worries. Things like if…
it's too high?
it's too low? —You don't want to appear cheap or like a newbie
people will pay that amount for it?
I should put prices on the labels?
I should show the prices on my website?
it's similar to how other artists are pricing their work?
And a lot more. This list of concerns can keep going, right?
Artists almost always do a price validation process when they work with me. The thing we see 99% of the time is that their prices are shockingly low, usually far below fair market value.
And, that doesn't cover the cost of supplies, much less keep the lights on.
Survey Says….
So when I read that buyers are willing to pay 10% more for work that people enjoy creating, it felt like permission to raise my prices.
The study by researchers from Lehigh University, Tilburg University, and Northwestern University was published in The Journal of Marketing, showed that if you enjoy the making process for your work, you can charge 10% more for it.
For me, and I’m guessing for you, there’s a whole lot of happiness and enjoyment that happens during your making process. Yes, there may be hiccups and moments along the way. But you wouldn't be making art and creative offerings if it didn’t feel rewarding and brought some level of happiness, right?
How to Charge More
So, how can you show that side of what you do?
Show the enjoyment side. What does it look like for you?
Here are a few ideas:
Can you describe the things that you like most about what you're making in your social media captions?
Can you share about the fun you're having in your newsletter?
Can you share photos of you smiling with your work, finished or in progress?
Can you share your favorite tools and why you love them?
This is your opportunity to raise your prices just a little because despite the ups and downs of being a creative human, I bet you get a lot of joy out of your process.
Fair Pay for Artists and Creatives
I help artists and creatives to have prices that feel fair to them and their buyers, everyday. It allows them to charge a rate that supports a sustainable creative practice, whether they’re selling all original art or a mix of art, products and services.
Your next step is to go change your prices by 10%.
If you want help with setting your prices and offers overall, schedule a complementary Artist Income Blueprint meeting with me to see if working together is a fit. When you get the price validation process, you get your prices figured out. AND, you finally feel confident about the amount you’re asking for your work. It’s a huge relief.