How Artsy’s Online Marketplace Leveraged Data to Connect Artists With Collectors
Artsy, a digital marketplace for buying and selling fine art, leveraged its virtual showroom to connect artists with collectors during the pandemic with measured success. In fact, its ecommerce business grew 150 percent last year. Artsy CMO Everette Taylor says the results stem from a focus on customer experience, lifecycle marketing and audience segmentation in addition to top-of-the-funnel tactics, according to a piece in AdExchanger.
Taylor maintains that spending millions of dollars at the top of the sales funnel won’t work unless you attend to things like lifetime value. By using data to run A/B tests and analyzing audience engagement with emails, companies can get more out of the customers they’ve acquired. User research that established different personas has helped the team shape messaging for different segments. For instance, the site might recommend certain artists based on browsing and purchase history or offer a free valuation to users interested in selling a piece of art.
In terms of marketing channels, paid search, email and display advertising has worked well for the brand. It’s also invested substantially in out-of-home advertising as consumers begin to venture outside more frequently. For more on Artsy’s data-driven marketing strategy, read on in AdExchanger.
