RbrtPtikLeoSen
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Upload & Sell: Off
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 p.3 #11 · mystical $$ secrets revealed. (no, really) | |
Mike Mahoney wrote:
ksmahgrts wrote:
my initial post was not about any of that stuff. it was about a method for arriving at a jumping off point for pricing. a completely valid and successful method.
Rubbage .. give me your zip code and portfolio and I'll tell you what your pricing should be. And so can every couple who look at you.
Your fatal flaw is which end of the tube you approach pricing from .. you approach from the "how much do I want to make" end, which will give you a price point, but not very often a competitive one. Most shooters use this approach because it's so easy, and usually results in a pricing which is (much) too high for their market. Which is why most wedding photographers fail as a business. Too lazy to even take off their rose-colored glasses.
Better to look at current economic conditions, local demographics, local wedding stats, number of shooters in your area, their pricing, local marketing costs & avenues, etc.
An effective salesmen informs the consumer without pressure to buy, and convinces them of their worth. Thus, the effective business savvy photographer creates his own market, by convincing the consumers around him that he is in fact, worth 5 times more than the dude next door who produces images of near or equal quality. Witness this for yourself, and you will no longer believe that ones pricing structure should be based on demographics/consumer spending habits.
My instructor is a portrait photographer who works out of Massachusetts, in his area the demographic literally sucks. The second highest charging photographer in his immediate area charges $40 for an 8x10 print after initial session fees, and doesn't get nearly as much traffic as my instructor who charges $200 for that same 8x10, does.
Why can he charge so much yet still attract so much clientele in a soso market? Because he's spent 20 years convincing everyone around him that he's worth it, that his prices are justified, that your going to get something not only timeless, but priceless for your money, and hell, it's an enticing proposition.
I also noticed that you mentioned looking into local wedding stats, etc. I will share with you one very good piece of advice that this instructor gave me... As photographers our competition is not our fellow photographers, but rather vendors of other leisure consumables. There are always people with extra money laying around, and they like to spend it, because it makes them feel good. What can they spend it on? Vacations, jewelry, a new car maybe? Thus, as photographers our real competition is the travel agent, the jeweler, and the car salesmen. Convince people why they should spend their money with you, and $$$ will start flowing. While your at it, do favors for those travel agents, jewelers, and cars salesmen, in trade for advertisement in their venues... They don't see you as their competition, which is an awesome opportunity to bring their potential dollars, your way. 
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