Elevate to your desired pricing; don't drop and flop!
There are countless entries on photographer forums and groups that go something like this. Do you recognize yourself in any of these phrases?
I’ve run my cost of doing business (CODB) and I’m losing money. I have to raise price but terrified I won’t book any clients
I finally found the courage to raise prices and I’m not getting any bookings/ getting ghosted. Should I drop prices back down?
I need to increase my prices. Am I worth xx?
Everyone in my area charges very low/my market is saturated. Should I drop prices to compete for those clients?
I get it. Dropping a price is a very tempting proposition if you’ve answered yes to any or all of the above and you’re struggling. The first thing I’m going to ask is:
Why is dropping price is the very first reaction?
Bear with me here as I digress to prove a point:
Scenario: Little Timmy isn’t doing well at school. His parents immediately decide that they’ll hold him back a grade.
Scenario: Little Suzie can’t swim. This summer she’s been invited to some pool parties, and her parents decide just to keep her at home because they are terrified of her drowning.
Do you agree with the decisions here? Should the very first reaction be holding Timmy back, or could it be to get him assessed and possibly give him help and resources to bring his learning level up? Enrichment activities, tutoring, counselling before making a decision to hold him back?
Would the very first reaction be to keep Suzie home all summer long, missing all the fun of activities with her friends because of parental fears, or would it be to get Suzie into swim classes, so that she learns the skill she needs to then enjoy the water with confidence and remain safe?
Let’s revisit this with the opening questions:
I’ve run my cost of doing business (CODB) and I’m losing money. I have to raise price but terrified I won’t book any clients. Or, overcome the fear and create a plan to find clients?
I raised my prices (slightly) and I’m not getting any bookings/ getting ghosted. Should I drop prices back down? Or, improve my marketing and communication skills to increase the chances of a client response? Brush up on selling skills?
I need to increase my prices. Am I worth xx? Or, work on the self-doubt and build confidence - something that can improve many aspects of your life?
Everyone in my area charges very low/my market is saturated. Should I drop prices to compete for those clients? Or, start competing in a different tier of the market and look for ways to differentiate from the low-end, low-priced photographers?
Why don’t we ever go there? Why is our knee-jerk reaction to sabotage ourselves even further instead of finding solutions that move us forward to where we want to be, rather than knocking ourselves backwards to where we didn’t want to be in the first place?
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Pricing for mistakes harms you, your clients and your business
If you are pricing for your potential mistakes or your low self-worth then you are doing a disservice to any client. Hey client, you only pay $50! That way if I screw your photos up and lose your memories, then you didn’t pay a lot for me to give you that crappiness and somehow that should make you feel better. If someone ever said that to you as a service provider, how would that make you feel? When you undercharge, that’s often what you are telling people, whether you mean to or not. It’s because you fear that if you raise price, you raise expectations of your performance, and you’re terrified to measure up.
If a person isn’t willing to or doesn’t want to pay for a premium service then most understand that they don’t get the bells and whistles of the premium product, but what is the base standard of quality that you hold yourself to? There needs to be one, because it’s your reputation, business and professionalism at stake. Presumably you want to overcome this obstacle eventually and charge more, so an attitude of pricing for mistakes can really harm your efforts in what you want to build and is really not an acceptable answer. Take a car dealership. The cheapest car is still a safe vehicle and comes with what the industry refers to as ‘standard’ features. There is a base level, because you still need windows and tires and a windshield. You may not have the heated seats and sunroof, but they won’t sell you an unsafe piece of junk with missing parts at the base price and expect you to be happy because you paid much less than the luxury version. You still want a drivable car!
The right question to ask: What do I need to do to get to the level that people will pay what I want and need?
You must do whatever it takes to get to that level that you think you’re not at. If you feel your work is not at par with a better price, or that you perceive others at low price having better skill as photographers, the answer is not to drop price to make it commensurate with something that you aren’t happy with! The answer is to bring your skill to the level you want and need. Practice, take classes, binge-watch Youtube videos, post in FB groups and be open to critique, do the work. Basically, DO.THE.WORK. Start somewhere, anywhere! When you invest in getting yourself to an elevated place, you will become a better photographer, which means you’ll give better work to clients, which means clients will have beautiful memories of their moments, which means they’ll tell people about you, which means you’ll get more business, which means you can increase pricing, which means you are on the road of success. In what world was dropping price a better option? You hope the low cost people won’t give you terrible reviews or have to hire someone else after a session because your photography wasn’t good? In that scenario, everyone suffers.
Dropping price is easy. I could do it in one minute on my price list right now. But it’s not a better answer. I will admit, it is harder to take weeks or months to learn flash for example, but once you do and you can tackle any lighting condition with ease, it’s a win-win for everyone! You can accept a broader spectrum of clients indoors or in evenings, you’ll be able to provide great photographs under those conditions, and clients pay you because you can do this. And same applies to marketing skill. If you don’t have it, learn it. There is no other way - do whatever it takes for you to fulfill your dreams and goals.
Don’t drop and flop! Challenge yourself to do better, be better. Your business and your clients will thank you!
If you’re looking to kickstart your marketing journey, do a “Present Vision Board” exercise. It’s a process of self-discovery that will inform your business model, branding and give you some marketing clarity, available on my products page. It’s a powerful process that taps into your subconscious and can really surprise you! Read about my own personal results here.
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