How to make an extra $1000 overnight by changing your photography pricing!
Podcast: Download (Duration: 0:52:47 — 48.3 MB)
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Today’s episode, Laurence will be talking about pricing. He’ll share how to make an extra $1,000 overnight by just changing your pricing. Laurence will run through his few steps for changing your pricing especially when it comes to wedding photography and how to make that extra money.
We will also talk about album credits and how to package correctly to make more money to make an extra of $500-$2,000 after the wedding!
Enjoy! Brent.
In this episode:
(02:39) – Why pricing is so important
(04:23) – Steps for getting your pricing correctly
(10:28) – Why packages really work
(18:20) – Album credits in your packages
(25:33) – Puppy dog close
(29:07) – Reason why pricing is low
(34:56) – How to get confidence in selling
(40:41) – Giving discounts
(44:36) – Giving something extra
Episode Highlights:
15% off the normal price for these 2 courses:
Wedding Photography Pricing Mastery – Link>>>
Wedding Album Sales Mastery – Link>>>
Why pricing is so important:
- It is the fastest way to increase your revenue and profits
- You can make incredible gains
- Literally increase your profitability
Steps for getting your pricing correct:
- Find photographers closely match to yourself (similar level)
- Collect their starting price (lowest cost package)
- Find out what the average is or what the median is
- Raise your price above 5% per year
- Double the inflation every year (inflation around 2-3%)
- Photographers need packages
- Clients will gravitate towards the middle package
Why packages really work:
- It gives the feeling that you’re getting some type of deal
- The more you buy the better deal you get
- People would mostly go on the middle package
- Photographers need a really high end portrait package
- Have at least 3 packages
Album Credits:
- Do not include album in your packages
- Only include album credits
Puppy dog close:
- Take home the puppy at home then return if you don’t like the puppy
- Mostly people will buy the puppy once they bring it home
- Similar with photography album
- Most photographers don’t like to sell
Reason why pricing is low:
- Having a very high booking rate
- You wanted to book 90% of the people you meet
- You should only book 30% of the people you meet
- Used your marketing to have more meetings
- Lower booking rate will enable you have higher price
- Perfect price lets you book your desired number of weddings
How to get confidence in selling:
- You’ll lose if you’re justifying the pricing
- If you start explaining you will become the antelope and the client became the lion
- Just go over the prices casually with no hesitation
- Do not bet too many challenging on your pricing
- Save yourself some time in aggravation
- Client know what you’re pricing is
- Don’t justify or argue with a potential client about your pricing
- Don’t put all your package details and prices in your website
Giving discounts:
- Offer minor concession
- Offer minor price reduction
- Add extra value (upgrade a print)
- More print credit
Giving something extra:
- Something the client is not expecting
- Give an extra print
- Makes the client more happy
- Getting goodwill
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