Maximizing Profits for Artists: A Guide to Affordable Merchandising

Whether you’re an artist for fun, profit, or a mixture of both, you likely understand the importance

of having sustainable income to fuel your craft. Merchandising is a great way to make money to afford future artistic endeavors and continue doing what you love. However, smaller businesses have to approach merchandising creatively to make a profit. Luckily, creativity is your strong suit. Use the following tips to navigate the world of affordable, quality merchandising to leverage your creative side and business prowess to maximize your profits.

Understanding the Art of Cost Control

Before diving into the creative aspects of merchandising, it’s essential to establish a solid foundation in cost control. Cost control is an art in and of itself. Learning to keep prices in check as the market fluctuates is crucial to keeping customers, but you have to also make sure that you’re seeing a return. Here are some considerations to make before diving into merchandising:

• Forecast demand: If you’ve never sold art before, this can be a bit difficult to start. However, analyze the sales of similar artists to make an estimate, and track your sales going forward. This will prevent overstock and wasted resources.
• Have a system for tracking: Even on a smaller scale, it’s important to have a way to track sales and return on investment (ROI). Anything from a spreadsheet to an inventory management system can offer insights along the way to improve your merch strategy.
• Pick a platform: If you have a significant following, you can sell directly on social sites and your art website. Otherwise, look into “borrowing” the audience of established sites like MerchBar, RedBubble, and MerchNow.
• Understand your budget: Be realistic about what you can invest starting out. This will guide your process and allow you to scale up in the future.
• Look into do-it-yourself options: If you’re thinking about making your own merch, you can skip third parties and handle it yourself. Determine whether this is feasible and how much the equipment would cost. Buy used equipment like screen-printing devices or think about merch you could craft that has little overhead, like stickers or digital art.
• Research third-party companies: When buying blanks in bulk or having some company manufacture products for you, you should vet them extensively first. Even if the cost is low, a bad experience can lead to sunk costs down the line.
• Poll your audience: Ask those who follow your art pages what they would like to see. This can lead to increased sales and serve as a free promotion.

Preparation is key, allowing you to craft a sustainable merchandising business. By controlling costs, you ensure that your products remain competitive in the market, attracting more buyers and enhancing your profitability.

Crafting Cost-Effective Designs

Creating appealing and affordable merchandise begins with thoughtful design choices. This process starts with understanding your audience. Figure out what resonates with them and what they’re most likely to purchase from you. This insight will guide your design process and ensure that your merchandise aligns with your artistic brand. Some of the best merch ideas for small businesses to get you started include:

• Buttons and pins;
• Decals;
• Patches;
• Stickers;
• Temporary tattoos;
• Tote bags

However, you can get creative with your selection. Finding something your target audience would love that incorporates some aspect of your art that they are already interested in can work wonders. Your merchandising efforts should seamlessly integrate with your artistic identity. If you’re looking to monetize as a digital artist, for instance, consider turning your creations into prints, posters, or even custom phone cases.

Additionally, monetizing your digital art opens up avenues for cost-effective merchandise. Transform your digital creations into downloadable prints, allowing customers to print them at their convenience. This minimizes production costs while broadening your customer base beyond geographical constraints. Painters might explore options like clothing adorned with artwork or limited-edition art books. The key is to diversify your merchandise while staying true to your brand.

Select the Right Suppliers and Materials

Selecting suppliers and materials wisely is another crucial aspect of affordable merchandising. Seek quality materials that fit your budget without compromising integrity. When it comes to suppliers, shop around for the best deals and consider building lasting relationships for potential bulk discounts in the future.

You can even look around for local shops that may be willing to partner with you to create custom merch at a discount for free promotion. Remember, cost-effectiveness doesn’t mean you have to sacrifice the quality of the goods or even the customer service. It’s about finding the right balance, even if that means responsibly sourcing materials yourself.

Market Using Digital Platforms

You can certainly sell your merch at events and local shops. In addition to that, though, online platforms are a game-changer to maximize your reach. Your website, social media pages, or merch shop can serve as a hub where customers can explore and purchase your merchandise directly. The easier it is for your supporters to buy your merch, the more likely they are to do so.

Further, think about running seasonal promotions, bundles, or limited-time offerings to create a sense of urgency among your customers. Offering a variety of price points ensures that your merchandise is accessible to a wide range of buyers, enhancing your overall sales potential.

Moving Forward With Merch

Affordable merchandising is a potent tool that you can leverage to increase your income as an artist while expanding your reach. Finding the right balance of supply and demand will be a recipe for success. Remember, the key lies in aligning your merchandise with your artistic brand, creating a seamless experience for your customers, and ultimately maximizing your profits.

Katie Brenneman is a passionate writer specializing in marketing and merchandising. Katie can be found on Twitter.