Introduction to Development in the Private Sector
While the public sector is commonly associated with fundraising efforts, development plays an equally vital role in many commercial arts businesses. These enterprises aim to attract specific clients, audiences, and patrons, making development a critical aspect of their operations. In smaller companies, development often falls under the scope of sales or marketing teams, but specialised roles centred on development do exist in the commercial realm. These roles are primarily focused on identifying, engaging, and securing VIP clients, who play a pivotal role in the success of these businesses.
The Power of VIP Engagement in Art Fairs and Biennials
Art fairs and biennials, regarded as major events in the cultural calendar, rely on development teams to target a VIP contingent comprising high-profile collectors, artists, critics, and curators. Each year, guest lists are meticulously revised and perfected. These carefully selected individuals receive personalised invitations and enjoy a tailored programme of private previews, events, and tours. While international events draw a broader audience compared to most art world openings, it is well-documented that the majority of sales at art fairs occur during VIP previews, if not pre-previews. Therefore, the success of the fair and its exhibiting galleries hinges to a large extent on the attendance of this highly curated guest list, a responsibility expertly handled by specialist development teams.
Client Development in Commercial Galleries: A Strategic Endeavour
In commercial galleries, a distinct form of development is employed. This approach centres on expanding the client base in harmony with the artist programme, involving targeting specific geographies, demographics, or collecting patterns. Many top sales directors in galleries are complemented by a dedicated Client Developer, whose role involves monitoring the international market to identify potential buyers, often taking the initiative to establish relationships on behalf of the gallery. Documenting buying patterns, tastes, and collector ambitions is also a crucial responsibility of a Client Developer. This information is used to match clients with the most suitable works available in the market, exclusively through the gallery. Recognised as a vital precursor to a successful career in independent sales, Client Developers orchestrate the nuanced relationship between buyer and gallery that frequently lays the groundwork for high-value sales.
Client Strategy in Major Auction Houses: Expanding Market Reach
Within major auction houses, client development, or “client strategy,” assumes a pivotal role in market expansion. These professionals are often assigned to specific departments or markets. They vigilantly monitor sales patterns, trends, and market conditions to pinpoint areas and individuals to target. These efforts are aligned with the house’s marketing and business development strategy. Prospective clients are approached through strategic event programming and meticulously curated guest lists. The objective is to connect them with specialists and cultivate a preferential relationship with patrons over competitors.
Converging Paths: Elite Patrons and Collectors
While development in the public sector primarily revolves around cultivating relationships with grant-giving trusts, corporate partners, or individual patrons for fundraising, in the private sector, it signifies strategic endeavours to build relationships with VIP clients and collectors. Despite this pivotal difference, there is notable overlap, particularly regarding the elite circle comprising both important patrons and collectors of the arts. These individuals, often high-net-worth benefactors and buyers, require a personalised, strategic approach complemented by exclusive treatment and benefits.
SML and Development in the Private Sector
Roles in development are uniquely rewarding, offering the opportunity to connect talented professionals with prestigious galleries, museums, and auction houses. Whether it’s securing VIP clients, enhancing client engagement, or driving strategic growth, we thrive on facilitating these critical connections that ultimately shape the success and legacy of commercial arts businesses.
Photo Credits:
Isaw Company, Jessica Pamp