Changing Your Photography Packages and Services

Should I Take $1,000 For This Photography Session?

Laura is a wedding photographer. Her bottom package, and bestseller, is a $2,000 coverage. She set her prices at $2,000 because she feels this is her bottom line. Anything less, and she won’t be making a profit, won’t make enough to cover her expenses, and would be working “for nothing”. Yet she routinely has people walk away saying they love her work and style, but simply can’t afford her. She’s had more than one person this year ask her for the same package at $1,000. So many in fact that she’s beginning to wonder if she should move her bottom package to $1,000. At least it will bring in $1,000, which is better than nothing.

I found a video put out by Pictage that also showcases a variety of “Laura’s” that are feeling the same things. And I know they are not alone.

So the question becomes, “Should I take $1,000 for this photograph session?”

My answer is no. And here’s why.

Lets return to Laura for a moment.

Let’s say for $2,000, she spends 6 hours on average at the wedding, photographs unlimited coverage, provides an album layout, and a variety of prints included in the package. Add in meeting and production time as well.

Now she decides to keep the same package, except lower the price to $1,000.

If she normally photographs 25 weddings per year, her $50,000 business was just sliced in half to $25,000.

Ah, but you say she wouldn’t have booked the 25 weddings this year anyway at $2,000, isn’t $25,000 better than nothing? (Providing she could book 25 at $1,000.)

Nothing other than price has changed. Meaning nothing other than profit has changed as well.

Laura will now look at those clients differently, approach photography differently, and have a completely different mindset as she’s shooting. It’s a negative place to be, and it will reflect in her work. If she is constantly grumbling to herself that she should have been paid more, she’s not giving it all. And isn’t that why you went into photography in the first place?

What should happen instead? One of three things. [Read more...]

Changing Your Photography Packages and Services

When was the last time you sat down and changed your products, services and packages?

For a wedding photographer, it may be once a year. For a portrait photographer, it may be once every couple of years.

No matter what field your in, now is the time to rethink your current offerings, even if you restructured them within the last few months.

Every time you turn on the television or login to the Internet, the news isn’t good. Companies continue to fail. The housing industry is crashing. The stock market is falling. You can’t help worrying about your own business.

As much as you think of your own business, its also time to think of your prospects and customers. What do they want in this economy?

Now more than ever, your clients want value. I didn’t say cheap, free, or low cost. I said value.

Just because your clients are watching their funds, and are looking to save money for the future, doesn’t mean they won’t part with money if they find you of good value.

There will always be people in every income bracket, ready and willing to part with their money.

Let me give you an example. At one of our weddings, the bride easily spent over $1 million dollars. The reception site was $25k – just for the site. She spent $15k on a caviar bar. She wore a custom designed Vera Wang original gown.

Do you think she would have been comfortable spending $1,000 on her photographs?

Pricing is relative.

You can create a portrait package valued at $10,000 – if you are targeting the right clients that are willing to pay it, and offer the photography that attracts them to you.

Maybe now is the time to re-evaluate your current clients, and create a package perfect for them. What can you do to entice them to buy from you in the last four months of 2008?