How Much Is Your Art Actually Worth?
Have you ever had thoughts like these when it comes to your art/business...?
I'm not as good as [insert other artist's name here]
Why would someone want to buy my work?
There are so many other better letterers/designers/artists than me
I'm really not the most skilled, I didn't even go to art school
If your answer is yes, then first of all—you're not alone.
I guarantee every creative has doubts like these. By definition, as a creative you're putting work out there that is unique and new and personal to you.
And with social media, it's never been easier or more tempting to compare yourself to other artists in your industry.
But this mindset makes it really hard to feel confident in the value of your work.
Which makes it hard to price your work appropriately and show up to sell your work.
Luckily, it doesn't really matter what YOU think of your work—it's all about your customers' mindsets.
What's the real value of your work?
Believe it or not, the value of your creative work has very little to do with:
Your experience level
Your credentials
Your # of followers
Your own opinion of your work
It has EVERYTHING to do with:
The problem your products/services solve or the need they fulfill
The people who want a solution to that problem or have that need
How much those people are willing to trade for that solution
Value is subjective
When you really think about it, value is a weird, totally subjective, man-made concept—products/services are priced based on how much we're willing to trade for the satisfaction, ease, convenience, or feeling that they'll give us.
For example, a lot of name brands or luxury brands aren't all that different from their generic brand counterparts—but having a product with a certain logo gives us a feeling of prestige, and we're willing to part with more of our money for that feeling.
Value is based on need
Value is also very unique to each person's need, and the problems they want to solve.
I recently spent ~$300 on a treatment for my hair that made it smoother, easier to manage, able to dry way faster, and not need to be washed as frequently.
Why? I'm super busy. I've recently taken up running, which I typically do in the mornings, and then I have to shower and be ready for work by 8am.
Dealing with my annoyingly thick poofy hair took up so much of my time that I had to get up super early for these runs in order to start work on time, and it made my mornings frazzled and stressful.
I have so many more important, impactful things I can be doing with my time than drying and styling my hair, so this solution was absolutely worth the few hundred bucks to me.
But to some of you reading this, spending that much money on a hair treatment may seem totally absurd, and that's ok! You don't have the same needs as I do, or the problem isn't as urgent for you. That doesn't make the service worth less, it just means you're not the ideal client for that service.
Pricing your art based on value
And that's what you need to keep in mind as you price and sell your work—your work is worth the price to your ideal client.
There will be people who see your work, and it's not worth the price tag to them. That's not a reflection of your work not being good enough, it's a reflection of your work not being an ideal fit for their specific needs.
If you find the RIGHT person who has a need that your artwork/services fulfill, you can actually charge a sustainable price for it without feeling bad or sleazy.
That's why it's SO important to start your marketing strategy by identifying and defining your ideal clients/customers. You need to know exactly what their needs are, the problems they want to solve, and how much a solution to those problems is worth to them.
With these things in mind, you can start publishing content that attracts that specific audience and educates them on your solution and how it can affect their lives, leading to more sales at a price point that feels good to both of you.