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?