18 Dec Can street art / murals increase business?
The weekly Street Art tour organized by Alternative Bucharest is showing a rise of interest in street art. It’s not only the public that’s interested, but also fresh business. Gradually, a beautiful challenge reveals itself: what murals to include in the tour, as the number of high quality pieces is also on the rise. Therefore, a question pops out naturally: are street art and murals, in particular, good for business?
We’ve already seen through the Street Art tour and other events like the Bucharest Stickerz Fest that people enjoy discovering new locations and feel connected. Luckily, it wasn’t just an impression: studies and numbers confirm it.
The marketing effect of street art
A good mural is a work of art, a masterpiece in itself. By picking the right artist to collaborate with, it can enhance the brand image. We’re talking about the whole package: colours, text, tone, culture.
We all know that good content is worth sharing. If you have a masterpiece on your walls, it will get featured in stories on social media, shared, viewed, liked and usually, the location tagged. In marketing, the very first step to convert someone to a customer is awareness. People have to know you exist first. Natural / organic growth is the best marketing you can get. It creates engagement. Murals and street art in general can be the buzz a business needs.
Good street art / great murals create a connection to clients. In the past years, we’ve seen a lot of stiff business trying to turn playful to attract not only younger customers, but also people craving for authentic experiences. We see banks, hubs and corporations incorporating street art design in their working spaces. That’s something that was almost unconceivable a decade ago.
People crave for authentic relationships. Murals and street art in general incorporate messages and feelings that people can relate to. It’s like an unspoken communication between the business hosting the mural and the customer. We sometimes find it hard to express what we feel, but when we find something we resonate with, we share it instantly. Murals can be a visual expression of our thoughts.
What do the numbers say?
Ok, ok, it all sounds nice, but what do the numbers say? Surprisingly or not, they confirm that murals and high quality street art in general, can be beneficial for increasing sales.
An academic study done in Bucharest, available here, pointed out a direct connection between street art and investments in the city centre. Other sources, regarding cities with a more developed Street Art scene, found an estimated direct proportionality of 73% between density of street art (murals in particular) and investments in the area. Food and beverage services lead the way, covering 61% of the venue hosting street art. The rest is shared between cultural hubs and creative spaces.
Given the qualitative nature of murals vs casual graffiti tags, they create a positive effect. The area is perceived as “taken care of” as the overall appearance is enhanced.
According to Forbes, a project called Beautify Lincoln, that added 40-50 murals to Lincoln boulevard, Los Angeles, drove up the revenue of each business with 5-10% and in some cases with up to 50%.
A study done by flyresearch.com in July 2017 indicated that people in Britain were willing to pay up to 50 000 gbp extra for a property hosting an artistic mural.
Three completely different locations, three different studies – all got the same result. Street art / murals are good for business.
Art brings people together. High quality art brings sales figures up, because it increases visibility and expands the community. We’ve passed the point where street art was seen only as a form of protest. Street art is people’s voice, so why not integrate it in your space? A place where people can feel heard.
If you have enjoyed reading this and want to discover more, join our Street Art Tour in Bucharest or if you have something to show, get in touch with us and be part of the network!