When to raise prices?

So I had a debate with my husband about pricing yesterday and I still don't know what to do. He has the mind set that if I raise my prices people will think that they are getting a quality product. If I keep my prices low then people think I'm not a good photographer and they wont get good pictures. However, I don't have any weddings booked for 2008 so I'm think I shouldn't raise my prices unless I'm booked out and turning away customers. However, a too low price MIGHT be a turn off anyway.

What do stats show? What has your experience been? Has raising prices helped or hurt you?

Raising prices has been great. When I was pretty new, after I did my first 3 paid weddings and had something to show, I doubled my prices. The bookings did not slow down, they only got crazier.

But it mostly depends on your area. I haven't spent much time in Salt Lake but from what I've been told by relatives that lived there, many weddings are very low budget and only want you for a couple hours at most, since you can't even get into the temple anyways.

Are there any high end expensive photographers in your area? If not, then it's either a sign that nobody wants to pay for good photography, or everyone is too scared to make the jump. I'm quite sure there are many beautiful weddings there, so what you want to do is jump into that market, and the best way to do that is by price.

You have obvious talent and I can totally see people paying a lot of money for your work. Haha, I think I even remember you asking about your pricing months ago and I ragged you out because your prices were too low. hahaha

Search thorougly, do some research for your area. It is a very unique market where normal big city theories may not apply.

I started taking bookings in 2/07 with my original (lower) pricing - and booked 18 weddings as far out as 6/08. I work full time and wanted to make sure I could keep up with post-processing, etc., so I raised my prices in 7/08 - I had shot ten weddings at that point - and advertised that I'm taking a limited number of bookings per month (2 weddings/month). I've booked 3 weddings since raising my prices. Things slowed down for me, but I would rather have half the bookings at twice the price than be slammed with so many and lose time with my family. This works good for me, since I only shoot part time. Hope I made sense! =)

What I would do is raise my prices anyway. Nothing booked for 2008 means you have nothing to lose and everything to gain.

AMeyer wrote in post #4105629
This works good for me, since I only shoot part time. Hope I made sense! =)

21 weddings and you say you're only doing this part time? wow.

Weve got 20ish weddings booked for next year and I am wishing we had raised our prices quicker and higher than we originally did because we keep having to turn down dates that were already booked for at a much cheaper price.

I can see how it would be worrying not having any bookings but if I was in your position now i would put my prices up (because your work is definitely worth more) and then offer a discount for people that book you before xmas or for the first x number of bookings that you take. By doing that your sending out a message that your work is worth more than what it is currently but then inviting people to take advantage of your short term offer, everyone likes to get a deal.

hey banbert, I've been told many many times that you should never give discounts on your work. Extra products and stuff, yes (like a few prints or so) but not your services. It devalues your work, and also kinda makes the statement, "I'm not getting enough bookings so I'm in panic mode"

People WANT to book with someone and say "we were lucky we even got in with opiefoto because they're booking up fast because chauntelle is so good". Yeah, some people might enjoy saying , " we lucked out because she was desperate to get some bookings so she gave us a super deal" but in general most people (in regards to wedding photos) wouldn't be so proud of that fact...

I'm of the opinion that if you raise your prices... it's for real.

I am currently pushing into the market for solo-wedding gigs. I've 2nd shot 8 weddings now, and feel that I am at the level to be shooting my own weddings.

I initially was going into it with the "best bang for the buck" philosophy, but was quickly straightened out by many of the folks here on the boards *cough, Lloyd*, and have raised my prices.

MrsOpie - your work is great and it is definitely worth the money. Personally, I want brides to book me because they like me and they like my work, not because I'm the cheapest photographer around.

Just my $0.02.

actually, it's kinda funny, this just reminded me of my last booking.

The bride asked me if there was any way she could get a discount... if she paid cash, or if she reduced the number of hours I shoot. I said no, this is my day rate and it is what it is.

She then said, "good, because if you gave us a discount we WOULDN'T have booked you". She was at a local bridal show recently and totally bypassed all the photographers there because they were all giving "bridal show discounts", which was a total turn off to her. As a hairstylist herself, she charges in the upper range and believes her services are top notch and charges for it. She wanted someone who believed in their own work just as much. Then they bought a $6000 package.

The people who will value your photography the most are also the people who will pay the most.

Great story Lloyd!

So, then, I am forced to ask Lloyd, do you just have 1 package/amount of coverage? You say that the one package was your "day rate" ... does your "day rate" change with each package or just what they get with the package?

I'm still new and have no plans to raise my prices because I want to stay competitive with the million other wedding photogs in my area.

So far I have 2 weddings booked for next Summer that I got from referrals and hope to have at least 10.

picturecrazy wrote in post #4105883
actually, it's kinda funny, this just reminded me of my last booking.

The bride asked me if there was any way she could get a discount... if she paid cash, or if she reduced the number of hours I shoot. I said no, this is my day rate and it is what it is.

She then said, "good, because if you gave us a discount we WOULDN'T have booked you". She was at a local bridal show recently and totally bypassed all the photographers there because they were all giving "bridal show discounts", which was a total turn off to her. As a hairstylist herself, she charges in the upper range and believes her services are top notch and charges for it. She wanted someone who believed in their own work just as much. Then they bought a $6000 package.

The people who will value your photography the most are also the people who will pay the most.

Funny. I tried the single day rate thing and the got same questions. However, standing my ground only ever got me "thank you for your time." *CLICK*

bcap wrote in post #4105911
Great story Lloyd!

So, then, I am forced to ask Lloyd, do you just have 1 package/amount of coverage? You say that the one package was your "day rate" ... does your "day rate" change with each package or just what they get with the package?

my day rate just means I don't get out of bed for less that $3000; my basic package price.

Even some couples who only want me for 3 hours... they still pay $3000.


I have two packages... basic ($3000) and premium ($6000), and yes, I'm thinking of raising them somewhat soon...

picturecrazy wrote in post #4105865
hey banbert, I've been told many many times that you should never give discounts on your work. Extra products and stuff, yes (like a few prints or so) but not your services. It devalues your work, and also kinda makes the statement, "I'm not getting enough bookings so I'm in panic mode"

People WANT to book with someone and say "we were lucky we even got in with opiefoto because they're booking up fast because chauntelle is so good". Yeah, some people might enjoy saying , " we lucked out because she was desperate to get some bookings so she gave us a super deal" but in general most people (in regards to wedding photos) wouldn't be so proud of that fact...

I'm of the opinion that if you raise your prices... it's for real.

Upto a point I totally agree with you matey (and I posted that story in the other trhead about that tog giving a £700 discount and how it backfired), but I think its different when your at a stage where your building your portfolio and just starting out . We started this year very cheap because we wanted to get some weddings under our belt and expand our portfolio after doing just one in 2006, so rather than sending the message out "hey were cheap, book us" we tried to send out the message "were great and worth just as much as the next guy, but because were new we have this great startup offer"

I arent saying it suits everyone to do it this way but we started up near the end of 2006 and shot 20 weddings this year and have a good start at a portfolio which is just what we wanted. Other people go and shoot for other established pros for free or very cheap to learn the ropes so it isnt very different tbh.

Jimbo24 wrote in post #4105919
I'm still new and have no plans to raise my prices because I want to stay competitive with the million other wedding photogs in my area.

THAT'S your problem. You are trying to stay competitive with a million other photogs.

Second shoot, or start out cheaply with craigslist or something like Jamie did. Just something to get a good portfolio with. Once you have something nice... jump up there.

DO NOT COMPETE with the million other photogs. Compete with the 5-10 photogs who are shooting the upper end weddings. If your photos are up to the snuff these guys put out, then you can get in there too.