Photographer Andrew Faulk explains why he believes it’s a better idea to raise your prices than to lower them.
This has been one of the issues I’ve struggled with, and I have just recently learned to trust my work and let it guide my clients towards my business – instead of trying to “lure” them in with lower prices.
Have you found it hard to put a price tag on your photography? Would you like to give advice to beginning photographers? Feel free to share in the comments below.
You Aren’t a Work Horse
Long, grinding hours are not sustainable and leave photographers mentally and physically exhausted. Low prices are the quickest way to inherit this unsustainable grind. Depressed pricing attracts customers who consider budget over everything else. While these cost-minded clients do bring photographers a small payday, they also refer new clients with similar values. Soon enough, you will have a steady stream of meager-paying jobs but will not have the time to do much else with your life.
While higher prices for each portrait session might result in less work at first, you will still maintain your same annual bottom line with less effort. The average annual income for a portrait photographer in the United States hovers around $50,000. If a photographer raised their prices by a modest 20 percent, their new income would reach sixty thousand dollars. The extra income will provide you with the flexibility to work less hours and increase free time to spend with your family, relaxing, or working on your craft.
Professional photographers realize how their clients feel when being photographed. The last thing you should want your client thinking during a session is about how they do not trust you as their photographer. It is a photographer’s goal to make their clients relax in the knowledge that they are in great hands.
Higher prices will inevitably lead your customers to have confidence in you. If a client pays dearly for your service, they have confidence that your work will live up to its price. With consumer confidence high, your client will not doubt the decisions you make before, during, and after your portrait session.
Starting a business is one of the most challenging endeavors you can face as a creative. In fact, many professionals don’t last in the field because of financial uncertainty. By increasing your prices, you are gaining an edge against the odds and positioning yourself as a staple in your market.
Knowing that you are receiving a decent wage for your work, you will be more likely to show up for your portrait shoot motivated and full of excitement. With fresh energy, you are more likely create better work that will, in turn, attract the clients you have always desired. With increased revenue, you will soon be able to pick the projects that deeply interest you and will add years to the lifespan of your photographic career.