How does the privately run Art Gallery stay buoyant and successful in a socio-economic downturn?

How does the privately run Art Gallery stay buoyant and successful in a socio-economic downturn?

Cupola Gallery Conclusive Analysis

'[…] innovation, creativity, customer service, quality, productivity and performance’.[i]

In order for an art business to become successful there are several fundamental business terms that we can look upon. These components can be categorised as: company management and staff roles; gallery space, display and location; marketing and exhibitions and databases, records and finances. Once identified, these attributes can be implemented, in order to establish a thriving business. Every element must interact continuously, adapting and accommodating change. Assertiveness, innovation and a creative mind are needed, which can be found in an arts management role.

‘Many of those running contemporary galleries come from an art background with a fine art or an art history degree’.[ii] I feel Sherwood's knowledge of the arts allows her to consociate with artists, which is highly important in establishing business relationships.

It is important that key structures formed and appointed by an arts management role allows for three distinct disciplines: the communication of the staff team (allowing the business to progress); forming an established organisation body (with the public, which leads to relationship marketing); and finally, helping to provide a framework in which strategic planning can take place. Thus increasing, productivity, performance - allowing for improved time management and production.

Through the consideration of environmental psychology, a curator allows art to be affectively communicated to a target market, thus increasing the commerciality. By adhering to the theory that 'passion buys art, not money'[iii], we are able to open up a more expansive, cultural and social diverse market. Cupola's urban location can access this wide band of individuals. An expansive art stock and ability of consignment, allows for an automated and vast choice of display, creating contemporary and commercial interest.

Strategic marketing allows Cupola to tailor to and focus on a specific market. Marketing research; direct marketing; media editorial practice; relationship marketing and regular exhibitions are vital to keep Cupola's business afloat. Cupola uses exhibitions as an opportunity to showcase emerging artists, thus sparking interest with the communities.

Data capture, through DBMS and constant updating of records allows for the appliance and calculation of consumer statistics, in order to develop market knowledge. An advantage over other commercial galleries is the combination of both the gallery and framing department. Cupola supports, interacts and financially benefits from the income of both businesses, each supporting and subsiding one another.

It is important that an established gallery such as Cupola constantly thrives and develops in order to exploit the gallery’s contemporary position. Laura Sillars, director of Site Gallery, agrees: “The recession impacts smaller agencies and galleries rather than more established galleries”.[iv] Cupola’s lasting relationship and constant communication with both suppliers and buyers[v] allows the gallery to implement all the business components discussed with creative and innovative thinking, impelled by managing director Karen Sherwood.