Raise your Rates!
We all struggle with what to charge our clients and sometimes need a kick in the butt to get to profitable territory. Hopefully this article is that kick in the butt for some of you! "I'm sure most of us have (or possibly even still do) struggle with our prices. We want a raise but without losing our current clientele in the process. How do we do this?
Only a year in, I was at the Burn Out point! I have a hard time saying no to people requesting my services. I mean, who doesn't feel honored when someone wants YOU to capture their family portrait!?
The answer is, PREMIUMS! Don't you like options when you 'shop' for.....well anything? For me, this was the best way to see just exactly what people would pay for services.
How much you want to make?
Let's shoot for $500 for a session!
This is your base price and you'll work around this number.
Your currently at $120 though and that's what your clients like.....
We can work with that. In order to for your current clients to continue to pay the $120 rate, have stipulations on this.
Here is where the Premiums come into play.
Have both WEEKDAY and WEEKEND Rates.
(We all value our weekends so why not charge more for them)
Your $500 rate goes on the weekend. Those are worth more to everyone! Give a discount to those willing to book 30 days in advance. This keeps you sane in a major way! Those that are willing to wait, give a discount.
We all of course have our wanna be cheap clients.The ones that CAN pay but don't want to if they don't have to. Well then, they can book Mon-Fri. Make them wait! They can have that rate but ONLY if they book 30 days in advance. For those that need to get in this month, they pay a premium yet again.
So, it could look something like this:
Mon-Fri $249 (booked 30 days in advance $199)
Sat-Sun $499 (booked 30 days in advance $399)
Obviously all these rates and what is or is not included, varies per photographer and by the individual market, but it has definitely helped me see what people will pay for my skills and time. I've had lots of bookings for a weekend and the clients didn't bat an eye on the extra costs. And I am still able to keep 90% of all my original clients even with my new pricing structure.
Just my 2 cents and what has helped me keep a steady clientele and gain lots of new clients as well! I was shocked by what people would pay. It also lets everyone know ahead of time what to expect to pay in the future as well.
Hope this helps you!"
ShutterCliq wishes to thank Audrey Anderson for this valuable contribution.
Audrey Anderson is a Louisville, Kentucky based newborn, senior and portrait photographer and her new website is currently under construction. We're looking forward to bringing it to you when she tells us we can!
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