Maintaining and nurturing relationships with collectors is paramount for gallery success. But, building effective collector relationships can present a unique set of challenges. So, how can you ensure that from the moment you speak with a collector, your system is set up to support your efforts to build stronger relationships with them?
46% of HNW collectors will purchase from dealers they already know.
Survery of Global Art Collecting 2023
Whilst meeting new collectors is always essential, maximizing your existing relationships to drive sales is also key. Here's how you can take your collector relationships to the next level.
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Future sales are in the details:
When a potential collector shows interest in a particular artwork or exhibition, it’s important to build a clear picture of them in your system. Use their contact record to keep track of artworks or artists they are interested in, tagging related contacts like family members, and recording their preferences (such as if they prefer lunch meetings or dinners) to help you tailor future correspondence. By tailoring your outreach, you increase engagement with potential buyers and create a more positive experience overall.
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Strategize your sales:
Sort contacts by how recently they’ve been added and fill out core contact fields such as budget and importance rating. Additionally, utilize custom fields to categorize and segment contacts based on their activity level, interests and more. This data allows you to make more informed decisions about outreach and due diligence ahead of meetings, as well as offering the right artworks ahead of fairs or private view openings.
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Stay on top of your deals:
Finally, make use of the Sales Pipeline section of your system to stay organized and on top of your offers and potential sales. By monitoring what has been shared with a collector and how they’re progressing through various stages, you can see what they like and avoid duplicate offers. Additionally, you can prioritize follow-ups more effectively and increase collaboration between team members. This increased efficiency will ensure that you can devote more time to meaningful outreach, rather than just managing lists.
Implementing these tips in your Artlogic system can maximize your collector relationships, leading to increased sales and more engaged collectors. By utilizing personalized offers, focusing on the contact record and making use of the Sales Pipeline, you can create a system that supports your efforts to build stronger relationships with your clients.
To understand more on how to easily maximize your collector relationships, watch Three Ways to Maximize Collector Relationships and learn how to leverage Artlogic to build robust collector-management foundations.
Watch Maximizing Collector Relationships
