Saturday, 6 March 2010

more tea vicar?

I'm not too keen on this one, I think it's a bit too sparse, but it was fun to draw. whether i will use or not i don't know but we will see.

following on from yesterday's handy business promotion tips that i picked up from an event i went to the other night here is handy hint number 2 for cheap/free things you can do to promote your business:

Pricing: now this is a trick old subject but it's all linked to knowing your market and isn't an exact science by any stretch of the imagination. It's something I really struggle with at times. You don't want to undervalue your work but when you are starting up and have little or no reputation you can't charge the earth for your product. Know all your costs for materials and time and be able to build in a margin for discount. If you are able to offer this to your customers they are more likely to come back for more if they think they have received 'a bit of special treatment'. Also make sure that your pricing structure is the same across all your areas. Now I'm no expert on pricing but there is lots of help/advice and info out there. I have found the forums on folksy to be helpful with pricing advice but if you pick up any craft business book there is info on pricing structures and how you work them out. Another handy nugget I picked up was to have a good spread or range of prices across your range of work, from higher end 'show-stopper' pieces (in my case, an original illustration) to a more affordable mid-range (eg prints of the original) and then smaller items which you can make more of (eg greetings cards, postcards, smaller versions of prints).

Any tips or comments on how you price your work would be really helpful...

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