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Archive 2017 · Business Advice Needed: 2 Different Markets

  
 
level1photog
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p.1 #1 · p.1 #1 · Business Advice Needed: 2 Different Markets


I'm currently serving two markets (Asian weddings and everybody else). My starting rate for 8 hours wedding coverage is pretty competitive compared to photographers in a similar market. My starting rate for cultural weddings (12-16 hours, thank you card, pre-wedding/engagement, 2 photographers) are expensive compared to my competitors. I found out they include the whole shabang for the same price as my 8 hours coverage. I feel like I waste alot of time doing consultation only to find out I'm out of the couple budget.

I still get some booking from people willing to spend but I realized I'm not in everyone budget. My website already have a starting price and I'm thinking of include what a typical average couple spend just to weed more people. I also create special package for cultural weddings. I'm also thinking of doing phone/skype consultation and only reserve in person consultation for couples truly interested in booking me and have the means to do so. Any advice?



Feb 06, 2017 at 01:33 PM
TheyCallMeJ
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p.1 #2 · p.1 #2 · Business Advice Needed: 2 Different Markets


Not sure what you mean by wasting lots of time doing consultation, only for your client to realize that you are out of their price range. My preference is the phone to initiate contact and I will offer my price range during our conversation. At that point the potential client already knows whether he/she can afford you. If not, they are free to hang up and look for someone else. We are talking about 15 minutes or so... I wouldn't classify this as wasting my time.

Also, money flows in the path of least resistance. Don't make it difficult for your clients to pay or retain you. I have nothing against signing in person, but I wouldn't recommend enforcing that rule. Initial consultation via the phone or Skype just to make sure you aren't dealing with bridezilla? Absolutely! After that the signing and retainer can be done online. I booked many clients that way (different town or country) and there's no problem whatsoever.



Feb 06, 2017 at 01:52 PM
level1photog
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p.1 #3 · p.1 #3 · Business Advice Needed: 2 Different Markets


TheyCallMeJ wrote:
Not sure what you mean by wasting lots of time doing consultation, only for your client to realize that you are out of their price range. My preference is the phone to initiate contact and I will offer my price range during our conversation. At that point the potential client already knows whether he/she can afford you. If not, they are free to hang up and look for someone else. We are talking about 15 minutes or so... I wouldn't classify this as wasting my time.

Also, money flows in the path of least resistance. Don't make it difficult for your
...Show more

Thanks for the response. I do send out my price list with their email inquiry but I still get questions at the consultation about my pricing. Wasting time is meeting with them at a coffee shop, showing them album, more of my works, and answer their questions only to find out all the things they need is out of their price range.

I'll take your advice and try to do a quick 15 mins phone interview to discuss about their needs and expected price before an in person meeting if they are serious. Thanks!




Feb 06, 2017 at 02:06 PM
heikoM
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p.1 #4 · p.1 #4 · Business Advice Needed: 2 Different Markets


We also talk by phone first, often up to an hour to get an emotional connection with the bride/couple. In the end we talk about packages and prices. Often they book right after this conversation.

Skype or a possible in-person meeting follows later, before, or even after booking.

This allows a personal contact (via phone) to create emotional attachment but does not waste too much time when we out of budget range.
Not seldom you hear quite at the beginning of the conversation what kind of wedding this is going to be and how important the images are for the couple. When we sense we might be too expensive or the wrong guys we shorten the conversation considerably and talk about budget much earlier. After 5-10 minutes it can be over.


heiko



Feb 06, 2017 at 03:35 PM
glort
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p.1 #5 · p.1 #5 · Business Advice Needed: 2 Different Markets


level1photog wrote:
I feel like I waste alot of time doing consultation only to find out I'm out of the couple budget.



Yet again all the photographic skill and equipment falls down without basic business principals.

This is the red flag for me too. I don't know why you would do an in person interview for anyone BUT those truly interesd in booking you which you should well and truly know before you end the inquiry call.

If you send a price list, how the FK is this happening?
I'll tell you, YOU are failing to pre qualify. Maybe you are in too much of a rush to get them in before you make sure they are even going to be your client.

Before you are booking an interview, I'd be saying " You got my information I sent you? Any you are happy with the inclusions and the coverage's are withing your Budget? Would you like me to go over the coverage's and investment with you?
What have you decided to invest in your wedding photography memories?

And don't just touch on it once, do it 3 times. Even if not in a direct question, as part of the conversation.
"OK so your wedding is the 35th of sepnuaryust, you are interested in the Purple coverage and that's in your budget and I have booked you in for Half past 13 on the 43 of this month. Look forward to seeing you then".

Alternatively, just flat out ask what their budget is. Once you know, make note and feed it back to them. Ask if that's right, get an agreeance but confirm it one way or the other.

What you have to realise with this is the problem is YOU not them. If it happened once it's them. If it happens enough for you to mention it here, it's you.
They need to be qualified well and truly. You can ask them when are they looking to make a decision, whom else have they or are going to see on the phone or skype or however you do it. I pretty much always have.

I also tend to go from pre qualify on the phone ( don't have all these people that are so incredibly busy they can't talk on the phone about their most favorite subject in the whole world) to engaging them and getting all the details and answering all the questions so when they come in it's more a matter of getting his nod and handing over the plastic for the deposit.

I'll basically lead into the interview on the phone. I'll have all the details down to the colour of the bridesmaids dresses, who the annoying uncle is likley to be, where they are going for the honeymoon and when they will be back and have generally built a rock solid rapport.

Either the call goes for 30 min and they come in 95% ready to book or it's over in 2 and there is no interview or further waste of my time. I tell them my starting price and I make a point to tell them, " don't think that's all you are going to sped because I'm going to be busting my butt to take all the great pictures I can so you'll want to buy them all and spend a fortune.!" I'll tell them " Most people spend on average around $XXX but the couple that came in and did their album plan last week loved their pics so much, they spent double".

And pretty much every client that comes back in and finalises their album tells me " You said we'd spend that much but we didn't think we would but we couldn't possibly leave anything else out."
Yep, they have spent more than they thought which is what I told them MULTIPLE times and they are very happy about it.

As for your different markets, not really sure about that. Sounds like you just have 2 Different offerings.
Years ago I mainly did Medium format High end coverage's. I wasn't as business educated as I am now and I had a lot of people come in that liked the work but didn't have the budget. Rather than loose them completely, I offered Cheaper coverage's shot on 35mm only. They were a winner and the upshot was I built a more profitable business having stringers shoot these cheaper weddings for me than what I was making on my own out of the high end coverage's.

My suggestion would be promote your high end stuff without revealing price too quick and if that's what they fall over on, offer the lower cost coverage.
It's going to take some sales skills but it's real easy to do because it's all about building rapport first. After that getting the $$ is easy.

Alternatively, create 2 different brands. Target your site to each one. that way you get 2 bites of the Cherry without under pricing one or over pricing the other. If you can sell you don't need to do this but if you would have trouble upselling particularly, might be the way to avoid burning the clients all together.

Good luck with it.







Feb 06, 2017 at 10:24 PM
Littleguy
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p.1 #6 · p.1 #6 · Business Advice Needed: 2 Different Markets


We all have this assumption that our clients love going to vendor meetings in coffee shops and wasting our time.

I think back on when I was getting married and having to pick vendors - I hated going to meet the vendors.

If you got them to come for an in-person meeting after e-mail them your price list and didn't close the deal - its not their budget - its all about you.

Most couples will go to the mommy and daddy bank or rework their budget if there is something they really want.




Feb 07, 2017 at 01:52 PM
level1photog
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p.1 #7 · p.1 #7 · Business Advice Needed: 2 Different Markets


Thank you everyone for your suggestions. I'll definitely re-evaluate how I pre-qualify them, discuss with them over the phone before meeting them in person.


Feb 08, 2017 at 06:15 PM





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