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Archive 2014 · Everyone's Favorite: Critique my pricing

  
 
IrishDino
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p.1 #1 · p.1 #1 · Everyone's Favorite: Critique my pricing


Note: We don't sell prints or albums

Standard: Full res USB, photographer's assistant

1 - $3500
"All day" coverage
Second photog @ 8h
E-Session

2 - $2700
12h coverage
E-session

3 - $2200
9h coverage

4 - $1600
6h coverage

A la carte:
- extra hours @ $200/hr
- E-session @ $200
- Second photog @ $400



Nov 22, 2014 at 03:55 PM
beachbumphoto
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p.1 #2 · p.1 #2 · Everyone's Favorite: Critique my pricing


Hi There,

A few questions - first and foremost, how long have you been photographing weddings?

Secondly, what do you do in regards to post processing?
Are your photos strictly out of the camera JPEG/RAW images or do you take the time to enhance and/or correct?

Lastly, where are you photographing? Are you located in a large metropolis or small town?



Nov 22, 2014 at 05:44 PM
SloPhoto
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p.1 #3 · p.1 #3 · Everyone's Favorite: Critique my pricing


seems a bit low, but post your location/website.


Nov 22, 2014 at 05:59 PM
ricardovaste
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p.1 #4 · p.1 #4 · Everyone's Favorite: Critique my pricing


Was there something in particular you wanted feedback on? Numbers alone are pretty meaningless. To comment on structure, I think 4 packages offer a good amount of choice, but you could simplify. You don't want people to do maths. As an example the booking I took last weekend: took them around 15-20 seconds to come to their decision when they looked at their options.


Nov 22, 2014 at 06:08 PM
jcolman
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p.1 #5 · p.1 #5 · Everyone's Favorite: Critique my pricing


My only comment (besides what the others have said) is that not too many weddings run over 12 hours anyway. So offering " all day coverage" may not be that much of a selling point.


Nov 22, 2014 at 06:22 PM
popinvasion
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p.1 #6 · p.1 #6 · Everyone's Favorite: Critique my pricing


All day coverage. Blah. Cap it and then upsell clients on additional hours.


Nov 22, 2014 at 06:34 PM
sgraafmans
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p.1 #7 · p.1 #7 · Everyone's Favorite: Critique my pricing


Thank for sharing this subject. I found it very helpful indeed.


Nov 22, 2014 at 07:16 PM
nolaguy
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p.1 #8 · p.1 #8 · Everyone's Favorite: Critique my pricing


Sorry if this is off topic but it's somewhat related so maybe you guys can help.

I'm starting a car company - not sure yet if I'm going to sell them in Vietnam or Germany or whether or not to paint the vehicles or not (note that I am DEFINITELY going to prime them). What do you think of these prices:

5 door w floor mats
$18,000

4 door
$15,000

2 door
$8,000

Each additional door
$2,500


I'm not being a smartass, Zach (well, maybe just a little bit but it's intended to be illustrative and good natured). There's just so little info and context, any feedback you get will be largely meaningless to you. After three years here whatever you might gather from any comments on this thread you could and should easily already have gotten from casual observation.

1. you gotta show your work for anyone to offer an opinion

2. where's your market - Altlanta or bum f*ck

3. who's your market - Walmart or Cartier

4. as noted, what's your level of service - post processing, etc

....there's more but I'm sure you get the idea.

Regards and good luck.




Nov 22, 2014 at 07:22 PM
glort
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p.1 #9 · p.1 #9 · Everyone's Favorite: Critique my pricing



So if I buy a 4 door and add on the additional door I'm $500 better off less the floor mats?

I think your prices sound great!
I'd like to order 4x 10 door Stretch Limos please. For $30K apiece sounds like a real bargain! No worry about paint, makes them easier to put in our own company colours.

I'm going to start a limo service and with the ROI I get on these 4 units I expect to be ordering more very soon! Please let me know where to send the deposit!



Nov 22, 2014 at 09:57 PM
Depth of Feel
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p.1 #10 · p.1 #10 · Everyone's Favorite: Critique my pricing


nolaguy wrote:
Sorry if this is off topic but it's somewhat related so maybe you guys can help.

I'm starting a car company - not sure yet if I'm going to sell them in Vietnam or Germany or whether or not to paint the vehicles or not (note that I am DEFINITELY going to prime them). What do you think of these prices:

5 door w floor mats
$18,000

4 door
$15,000

2 door
$8,000

Each additional door
$2,500

I'm not being a smartass, Zach (well, maybe just a little bit but it's intended to be illustrative and good natured). There's just so little info and context, any feedback you get will
...Show more

My uncle has a nice 3d printer that makes toy cars. I think I will have him print me a car to save money.



Nov 23, 2014 at 12:05 AM
TTLKurtis
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p.1 #11 · p.1 #11 · Everyone's Favorite: Critique my pricing


First things first... figure out your costs of living and your costs of doing business and then work backwards from that to figure out your prices. I'm going to guess your prices are about 60% of where they need to be, roughly, but it's different for everyone.

Your experience, style, quality of work etc. is all irrelevant when it comes to figuring out what you *need* to be charging to make a living at this.



Nov 23, 2014 at 01:37 AM
nolaguy
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p.1 #12 · p.1 #12 · Everyone's Favorite: Critique my pricing


^ This is so the bottom line.

But I think Zack was asking for impressions of his pricing from a market-competitiveness/impression point of view.

Rinse and repeat the points above.




Nov 23, 2014 at 01:57 AM
TTLKurtis
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p.1 #13 · p.1 #13 · Everyone's Favorite: Critique my pricing


If you're looking at market-competitiveness you will always lose, because the majority of people aren't running their business like an intelligent, informed, reasonable person would. They're just trying to be competitive. And that makes for very bad business.


Nov 23, 2014 at 02:07 AM
sgtbueno
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p.1 #14 · p.1 #14 · Everyone's Favorite: Critique my pricing


How can we comment on price without seeing your offering?


Nov 23, 2014 at 08:24 AM
ricardovaste
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p.1 #15 · p.1 #15 · Everyone's Favorite: Critique my pricing


sgtbueno wrote:
How can we comment on price without seeing your offering?


You can easily make some comments on how people are pricing things without knowing anything about their work or life (costs). But as someone else touched upon, they're the sort of things that have been discussed quite a few times on here, and as the OP has frequented here for a good time he must already be mostly aware of them. So exactly what sort of feedback he wants... I am not sure.



Nov 23, 2014 at 08:45 AM
glort
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p.1 #16 · p.1 #16 · Everyone's Favorite: Critique my pricing


TTLKurtis wrote:
First things first... figure out your costs of living and your costs of doing business and then work backwards from that to figure out your prices. I'm going to guess your prices are about 60% of where they need to be, roughly, but it's different for everyone.

Your experience, style, quality of work etc. is all irrelevant when it comes to figuring out what you *need* to be charging to make a living at this.


I disagree and agree... in that order.

If I'm buying my 10 door strech Limos From Nolaguy for $30K each when everyone else who hasn't cottoned on to his deal is paying 150K or more, why should I lower my prices on what everyone else is charging because my costs are lower than theirs? I can charge the same ball park figure and still be competitive. I can in fact undercut if I use that to effectively drive more business my way but still make bigger margins.

If I looked at it and said I'm only paying off a 30K loan instead of 150K so my prices should be that much less, then I could in fact be doing myself a dis service by being so much cheaper everyone wonders whats the catch and books the other guy anyway.
It's going to be hard enough with everyone asking what sort of a car is a " NOLA" anyway.
Think I'll just get Depth of feels uncle to print me up some Mercedes badges or Rolls Royce Silver ladys and bung them on. OTOH, 10 door stretch ferrarri could be marketable!

For one line of work I do I produce all my own prints and have done deals with suppliers so I am producing 8x12s for like 15C in material costs. It would be stupid to then sell them for say $5 because my material costs are so much cheaper than everyone elses. I sell them for $35 and get it all day long.

As for style and intangibles etc, dead right. Wether I paint my limos Red or blue, I'm still going to make a killing on what Nola is going to build them for me. Fixed costs are the same no matter what you do.

BTW Nola, add in a couple of the 2 doors will you? I want them for cute little pageboy and flower girls cars. And add a couple of 12 door stretches to that order. Well do party groups with them.
I spoke to my Dad who is in the car game and he pointed out that if we order a 2 door with 3 extra doors we save $2500 on the 5 door price and we'll buy our own frigging floor mats!
K-,mart has them for $25 a set.

How long before we can take delivery? Theres a Big Elvis Festival coming up soon and we don't want to miss out on that business.

BTW, Do you do a 1 Door car we can add 4 extra doors to and save even more?





Nov 23, 2014 at 12:11 PM
Focus Locus
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p.1 #17 · p.1 #17 · Everyone's Favorite: Critique my pricing


TTLKurtis wrote:
figure out your costs of living and your costs of doing business and then work backwards from that to figure out your prices ...when it comes to figuring out what you *need* to be charging to make a living at this.



I'm not sure why people always say this in response to a pricing question.

Did Google price their search engine based on the costs of doing business? No. They provided their search results for free, while they spent billions of dollars building server farms, data centers, mapping the globe, photographing the globe, developing the Android platform, buying up other companies for billions... while we search for free. Did Google price their first ads based on recovering these huge content infrastructural costs? No. They priced their ads on what the ad market would bear, considering that many other previously established online players like Yahoo were already selling search related ads.

Did Facebook price their pages based on their costs of doing business? No. They offered services for free, for years, and developed and gave away tools to other businesses to enable them to integrate the Facebook platform into their web presence. Facebook hired hundreds of the brightest boldest computer programmers, all out of pocket, all with no promise of return, all at the risk of zero revenue... in order to build up their business.

Neither Google nor Facebook priced their monetization products based on what it cost them to produce the audience that gives those products (essentially advertising) any value. They did not divide their capital expenses and employee compensation by the number of ad placements they estimated they would sell in their first year, or even their first decade.

Instead, they had to consider that any business who advertises through their platforms has a choice of venues in which to advertise in. It was not enough to offer a new, cool, and different way to advertise. It was not enough to prove that targeted online advertising is more effective than dying newspaper or magazines. And it certainly was not enough to cover their costs of doing business. They had to consider market readiness and acceptance. They had to consider the advertising budgets of the businesses they hoped to convert to customers.

In other words, they had to do their homework about the market... without regard to their costs to become a successful player in that market. And that is what it looks like the OP is trying to do with this question.

I don't understand why he/she is being borderline ridiculed for having the courage to ask.




Nov 23, 2014 at 02:46 PM
ricardovaste
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p.1 #18 · p.1 #18 · Everyone's Favorite: Critique my pricing


Focus Locus wrote:
In other words, they had to do their homework about the market... without regard to their costs to become a successful player in that market. And that is what it looks like the OP is trying to do with this question.


Where did you get that impression from?



Nov 23, 2014 at 02:55 PM
Focus Locus
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p.1 #19 · p.1 #19 · Everyone's Favorite: Critique my pricing


The original post. And the OP's concurrent thread, where he/she shared the decline in number of bookings when lower package prices were not selectable, despite an increase in profit per booking. It appears that this resulted in a net revenue decline, that the OP is trying to tune up.

Edited on Nov 23, 2014 at 03:32 PM · View previous versions



Nov 23, 2014 at 03:04 PM
johnrg
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p.1 #20 · p.1 #20 · Everyone's Favorite: Critique my pricing


Focus Locus wrote:
In other words, they had to do their homework about the market... without regard to their costs to become a successful player in that market. And that is what it looks like the OP is trying to do with this question.


I don't think this is a fair comparison. Google and Facebook are operating in a completely different space and a highly scalable one at that. Small businesses have to price for profit or they won't be around long.



Nov 23, 2014 at 03:25 PM
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