In your photography business, it is important to have established processes and systems that help you maintain your success. As you continue to work with your ideal clients and practice your skills as a photographer, what are some ways you can increase your income by a substantial amount? One way is by optimizing the systems you have in place to help you grow as a business owner, and allow you to meet and book more clients each year. Pricing is one of the most difficult aspects of owning your photography business, but is also one of the best ways for you to increase your profit with your upcoming bookings. Implement these six quick, pricing optimizations for big results.
1. Re-evaluate your Current Pricing
When you started your business, you may have set pricing that fit the goals you wanted to reach at that time. If you have yet to change your prices to match your worth, this is something that can help you increase sales and profit drastically. Since you are usually busy meeting clients or shooting, document the amount of time you spend working on each unique wedding from the beginning of the process until your final interaction with that couple. Adding up the hours can help you see how much time you spend, and then you can reevaluate your current pricing.
2. Be Confident in your Pricing
Take a look into your photography business and the tasks you take care of on a daily basis. This will help you understand exactly what you do for your clients and allow you charge accordingly. When you set your prices for your products and services, be confident in what you decide. You know exactly what you need to charge to make a profit from your business, and this is why you set the prices the way they are.
The more confident you are in your pricing, the more likely it is that your clients will accept the prices you set if they want to work with you. Take pride in your abilities and what you are capable of as a photographer and business owner, and set prices that represent your work.
3. Develop a Simple Pricing Page
Many times, before a potential client reaches out to you, they look at your website. Your pricing page should be treated like every other part of your website. Remember, less is more, and people are turned off by a crowded and confusing page. Take a look at your current pricing page as if you were a potential client. Can you easily tell what the prices are for each product and service, or do you have to look through confusing text? Making changes to your pricing page which allow potential clients to know exactly what to expect when they book you will help them make a quick decision. This helps you because they have already made a decision to work with you based on this one page on your website, which will give you more bookings.
4. Create Prices Based on your Target Market
While developing your pricing, it is important to determine the factors of your target market. First, take a look at who your ideal client is and what type of photography they would prefer. Next, take a look at what other photographers are charging for your ideal clients. After that, look back and see how much it will cost you per wedding to find out how much you should charge. Once you take a look at those factors, create competitive pricing your ideal clients will pay and that will help you stay in business and make a profit from each booking.
Tip: Spend more time working on perfecting your pricing when you outsource your wedding photo editing needs. When you partner with a specialist to take care of your post-production work, you will have extra time to optimize the important parts of your business.
5. Set Clear Prices for Packages
Although you can present a la carte pricing to your clients, creating packages can make the decision process easier for your couple. To avoid frustration or confusion when it comes to pricing, create packages for your clients. Each package can combine your main services, but be at price points that your ideal clients will choose. Your clients will be more apt to choose a package when you have made the process quick and simple. Confusion is the #1 reason people won’t book you.[ninja-inline id=14322]
6. Make it Easy to Upsell
While you made the decision process easier for your clients in regard to purchasing packages, there are still additional products and services you provide. On your pricing page, make your add-on list simple and easy to choose from. Once your clients pick their package, they can quickly glance at the add-ons to see what else they would like to purchase. Many times, creating individual prices for packages lowers their cost, and they have a bit extra in their budget to include a few add-ons. Make sure that when you list your add-ons, the descriptions and prices are clear and attractive to your clients.
When you take a look at the current pricing you have in place for your products and services, you will see there are many ways to optimize and increase your profit. Learn more about how to set up photography pricing for your business with our free Guide, The Keys to Pricing for the Wedding Photographer. We feature tips from wedding photographer, Vanessa Joy, plus how to know which pricing model is the best for you. Download it today!