When to raise prices?

cdifoto wrote in post #4105927
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*

what is your day rate? Put it in the 3000+ range and you'll get different answers.

Banbert wrote in post #4105947
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"

The strategy I'm trying to say is this....

get a few weddings under your belt for a portfolio. Or second shoot for someone NOW to get images without waiting a year for the wedding to come. Meanwhile, with your prices already high, nobody is going to book you without a portfolio.

When you show the world your awesome portfolio, now they'll start coming.

People will book a $700 photographer without even looking at any pictures.

seriously!

They will not do that for a $2000 photographer.

So if you have prices low or discounts out there, people are gonna just fill up your schedule with these low priced weddings!!

But if you raised your prices and waited a bit, you could have filled that same schedule up with higher priced, higher end weddings.

It is ridiculously easy to book couples in the cheap range! I'll bet someone with a crap portfolio could book 20 weddings if they were charging $1000. why fill up and delay the growth of your business by a year when you don't really have to???

picturecrazy wrote in post #4105980
The strategy I'm trying to say is this....

get a few weddings under your belt for a portfolio. Or second shoot for someone NOW to get images without waiting a year for the wedding to come. Meanwhile, with your prices already high, nobody is going to book you without a portfolio.

When you show the world your awesome portfolio, now they'll start coming.

People will book a $700 photographer without even looking at any pictures.

seriously!

They will not do that for a $2000 photographer.

So if you have prices low or discounts out there, people are gonna just fill up your schedule with these low priced weddings!!

But if you raised your prices and waited a bit, you could have filled that same schedule up with higher priced, higher end weddings.

It is ridiculously easy to book couples in the cheap range! I'll bet someone with a crap portfolio could book 20 weddings if they were charging $1000. why fill up and delay the growth of your business by a year when you don't really have to???

I don't know about the $1000 thing...maybe in some areas. I'd say the $500-800 range, but I totally agree with the rest!

picturecrazy wrote in post #4105980
I'll bet someone with a crap portfolio could book 20 weddings if they were charging $1000.

I guess I put out stuff that's worse than crap then.

picturecrazy wrote in post #4105950
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.

Thanks for the advice...

I met with a bride 3 weeks ago and she told me who else she was considering for the job. I check out the websites and this is what they were offering:

#1 $2,400
$1,400 shoot fee for complete coverage
engagement session
$1,000 product credit

#2 $2,000
$1,200 shooting fee for complete coverage
engagement session
bridal session
$800 product credit

My Package $1,600
6 hours coverage
engagement session
bridal session
$600 product credit
high res wedding pictures on disc

I was the cheapest photographer out of the bunch and she went with guy #2. She also wanted to remove the $600 product credit so she would get her package at $1,000. Half the price of the other 2 people. She was willing to pay double for guy #2 instead of going with me. She would even get the digital negatives with me and she wouldn't get that with the other 2 photographers.

I just don't want brides to think of me as a "budget" photographer.

Another factor is the type of clients that you will attract.

As Lloyd said, some people will book a $700 wedding photographer without even looking at the photos...but you can be darn sure that they will complain if they don't get what they expected...and they probably expect more than what $700 will get them from most photographers.

If, on the other hand, you change a higher rate, you won't attract those bargain hunting clients, you will attract clients who come to you for your style and they will likely be easier to work with and easier to please.

When you include the files on CD, why would they want $600 in credit? How about loosing the credit part of that package and keeping the price the same? Or, not including the files and keeping the credit? Either way, it brings you closer to the one that got the job...and it's more money for you.

cdifoto wrote in post #4106004
I guess I put out stuff that's worse than crap then.

ok ok, I'm speaking mainly from my area... I know rural areas aren't quite as lucky, but any decent sized city will have a lot of brides looking!

MrsOpie wrote in post #4106050
She was willing to pay double for guy #2 instead of going with me.

I can almost bet if your rate was $2500 she would have gone with you.

People, for the most part, do not buy on logic.

picturecrazy wrote in post #4106080
ok ok, I'm speaking mainly from my area... I know rural areas aren't quite as lucky, but any decent sized city will have a lot of brides looking!

I'm not playing the budget angle, but the higher price one isn't working either.

The problem I think with my area is there just aren't enough weddings. When you look in either of our 2 main newspapers on any given day, it's a surprise to an engagement announcement...

what area are you in?

South Central PA. We have a few bigger towns, but Harrisburg is the biggest city within reasonable distance 45 minutes north. Kinda difficult to penetrate that particular market as a rural boy who doesn't even live there.

MrsOpie wrote in post #4106050
I met with a bride 3 weeks ago and she told me who else she was considering for the job.

I was the cheapest photographer out of the bunch and she went with guy #2. She also wanted to remove the $600 product credit so she would get her package at $1,000. Half the price of the other 2 people. She was willing to pay double for guy #2 instead of going with me. She would even get the digital negatives with me and she wouldn't get that with the other 2 photographers.

I just don't want brides to think of me as a "budget" photographer.

Do you know why she chose #2?

Everytime I raise my prices I get more business. I send out an email to my past, future and present clients within the email thanking them for their business and letting them know that if they have a referral to get it in because my prices are going up effective (blank) date.
I actually get most people who read the email calling me after the increase date and booking.
When you compete with everyone else you will loose. Compete with the better few. It is not what your prices are at that point but how well you can sell them on you. People buy from people they like.