Whether you’re starting a photography business from scratch – or wanting to discover how to improve the profitability of a photography business you already have, you will find the tips revealed in this article, and subsequent articles, very valuable – I sure have.
You see, starting a photography business is like starting your car – if you have the “keys” it’s a whole lot easier and faster than if you don’t have the keys.
There are 3 major keys to starting your photography business (or improving the one you already have) . Let’s talk about the first “key” in this article.
Starting a photography business Key #1: Smart Pricing Skills –
Here’s 5 secrets regarding your pricing that will make you a lot of money with your photography business:
1. Decide NOT to keep your prices really low – it’s just not necessary. If you keep your prices low – you won’t make hardly any money, and you’ll be gone before you even got started. If people are not hiring you right now – it’s NOT because your prices are too high. Not a chance. It’s because your marketing is not effective and you can’t sell effectively.
2. The actual prices aren’t anywhere near as important as the WAY you merchandise them. For example – I have discovered that packages (or “collections”) almost always outsell a-la-carte pricing – so offer packages. This makes the decisions much easier for your clients and prospects. (I suggest you also offer a-la-carte pricing, too, so you can use this to your advantage – see #3 below.)
3. Always state how much your clients will save by choosing a certain package over investing in individual images one at a time. So you set your a-la-carte prices substantially high – fair – but high. Then you put together packages or “collections” which will give your clients a great savings over what it would have cost them if they had invested in the same sizes from your a-la-carte menu.
4. Never put your prices on your website. It’s one of the most common mistakes photographers make. It totally screws up your business. Why? Because the number one reason people call you is to find out the price. If you give that to them on your site, there’s no reason to call you, and you will never have the chance to build trust and a relationship with them, and then book them.
5. Raise your prices twice a year – no matter what. I call this “Auto-Pilot Pricing” and it’s amazingly effective. Twice a year, you raise your fees between 10% and 20% each time. This is not much of an increase. But, as you do this twice a year, it really adds up, and before you know it, you’re fees are very substantial.
So there you have it – 5 powerful tips regarding the pricing of your photography services – whether you are just starting a photography business, or you already have a photography business and want to earn a better living with it.