I learned a very valuable lesson one time about projecting our own thoughts of affordability on potential clients. A few years back, I was an Art Director aboard Princess Cruises. I was in charge of the onboard art gallery and held auctions aboard a variety of ships with a variety of itineraries. Once, early in my role of Art Director, I projected an idea of low affordability on a group of passengers (potential art buyers) on a cruise to Alaska.
You see, they were mostly families who were into the great outdoors. It wasn’t like some of the cruises in the Caribbean or the Med who were more well-heeled, well-traveled art connoisseurs. So I decided for them that they would not buy art – at least not the expensive pieces.
Then my supervisor came aboard and stepped in for me at auction. I was schooled – right then and there. He made no judgments about passengers and affordability. And these passengers bought Chagall after Chagall, which were priced in the $20,000.00’s. We had to start pulling more art from the walls of the ship to keep up with the bidding.
It was the last time I ever placed a limitation on a client as to what they could “afford”. I discovered that only clients can decide what they will afford – no matter who they are and where they are from.
If you decide that your clients can’t afford you or that your market can’t support a higher price, be prepared to be right.
Just know that there’s someone else in your market who has decided that your clients and market can.
And… You can quote me on that.
©2011 Mark K. Ferrell