Before someone can sell any kind of product and/or service, that person has to set the price of each of them. Once all of the items have a set price, that person must then create a price list so that customers are given information regarding how much a product or service would cost.
Most people and businesses that are just starting out have a bit of a problem when it comes to properly pricing their products. If you don’t know how to do that, then you may just scare away potential customers. Which is why it’s important for one to learn how to make a proper price list that would attract rather customers rather than sending them away to the competition.
The Influencing Factors of Your Photography Price List
These are the five main factors that should influence the price of your photography services. So here they are as follows:
- The quality of your work, as well as your finished product.
- Your perceived value in the marketplace, as well as the perceived value of your products and services. Basically how you’re seen by a client in comparison to the rest of the competition.
- Your confidence in your skills as a photographer. One of the best ways to do a skill assessment is to have friends and family judge the quality of your work. This will give you an idea of just how much you can price your services.
- What your competitors are charging their customers. You’ll need to do a proper market research in order for you to gain this valuable market information. Knowing this is crucial as you’ll know how to properly mark your prices that will make customers want to go to you rather than your competition.
- The costs of your goods. So that means how much you’ll be required to spend for the kind of service that you’ll be providing.
How to Present Your Photography Price List for Better Sales
If you’re a professional photographer, then you’ll know that you won’t stay long in the business if you don’t know how to present your price list to your clients.
This is a problem that a lot of professional photographers usually go through as most of them don’t know what prices they should charge and the problem of presenting the price list to the client without pressuring them into buying something that they won’t want. So here are three things you should do to make sure you present a proper price list to your clients:
- You must decide where you’re going to position your photography business within the marketplace and what kind of services and products you’re going to sell. What you’re going to want to do is conduct a market analysis that will tell you what your customers might want as well as what will help you stay ahead of your competition.
- Calculate all of your fees. If you’re working with others, then you’ll need to make a fee proposal based solidly upon your operations and the cost of sales, how much you make and personal requirements, and whatever your photography studio needs in order to attain success.
- And once everything is said and done, you’ll need to print at least one price list for yourself. It should always remain in your possession and that it should never leave your photography studio. The reason for this is to help you make any changes should they be required, and it will also help you keep track of your current prices.
Tips for Setting Your Photography Prices
- Publish some of your prices on your website. If you don’t have one, then it’s suggested that you make one immediately. This is one of the basic steps for when you have to manage the expectations of your clients. Just publish a couple of your prices to give you a reference.
- You have to remember to always charge a session fee as well as charging up front when the client makes a session reservation. By doing this, it ensures that the client will take your business seriously and will not just cancel out on you. It’s best that you do not take a deposit and that you take the whole payment. The reason for this is because there have been a lot of cases wherein deposit-leavers have left professional photographers without reason but those who make whole payments almost always push through.
- If you do decide to allow the deposit option, make sure that you tell the client that it’s non-refundable. You can ask the client to sign a photography contract to ensure that he or she understands this or the client can also sign an acknowledgment receipt of your confirmation e-mail.
- In the event that you place a client gallery up for a preview, remember to give it an expiry date. Put the gallery up for at least thirty days and you have to remember to watermark your photographs. It’s fine if you watermark the preview, this is to make it clear that anybody who wishes to take and make use of the preview will be considered a thief.
- Create a sense of urgency that will get your clients to go for your services. You’ll want to run a special discount on your session fees but only for a limited amount as well as a limited time. You can run a sale on all of your sessions fees once a year for a short duration.
- Consider the value of your time. It’s not just the photo shoot that could eat up your time, other factors can help you decide just how much you should be charging. Things such as the travel time, meeting time, post production time, phone time, ordering time and just about everything else that goes into the creation, preparation and the delivery of the photographs.
- Look into everything that’s included in your session fee. Remember to charge only for what’s in the sessions – that’s why it’s called a “session fee.”
The life of a photographer is hard, but if one knows how to properly price his or her services, then there shouldn’t be any problems.