Yesterday I presented to five MBA students form Insead who were visiting NY from Paris. My presentation was a look at the complexity of running an interactive business. It highlighted how elements of different business models within a publisher’s ecosystem were often times at odds with each others goals. There is the constant need for the relationship with the viewer/reader to be re-examined across the many touch points. The final slide looked at a theoretical acquisition funnel and conversion model.
This morning in my feed reader was Bloomberg post about Jen Beckman’s 20 x 200 series. This reminded me that like all business, galleries face the challenge of growing the available buyers for work that show.
As a business, a gallery selling contemporary art is faced with numerous issues about taste, validation and the gallerists’ ability to map months ahead of showing how their vision connects to collector’s needs and wallets. However the single most limiting thing for any gallery or (gallery artist) business is a fiinite number of collectors who the gallery can engage and transact with. I am continued to be impressed with the 20 x 200 sales funnel concept. Ms. Beckman’s ability to generate interest and curiosity from the general public and media creates huge opportunities for the cultivation of potential collector leads. This is smart and bound to power the business into the future.
From the Bloomberg article:
On Twitter the other day, I stumbled over a clever piece of art called “Why You Should Buy Art!” And I bought it.
Twitter as the wide end of the funnel, light and potentially viral leads to interest in only 140 characters. One click and the work can be reviewed a couple more clicks and it is ready to ship. May be I should have presented this to this students from Insead …. hmmmm