Questions on Pricing

[Sion]

We often have questions about how much you charge this and how how much you charge that as if there is a hard and fast rule about pricing in photography.

I would think it depends on how far you have to travel, how difficult is the job, how demanding is the client, whether pick-up and delivery are required etc. etc. I expect my competitor's price would be different from mine because he can do the job faster, he has lower cost of operation, I'm is more hungry than him etc. etc.

I've just raised a job from a regular client by 30% because he always needs 24 hours delivery and the job requires some PS combo work. I was prepared to lose the job. But he emailed back to agree with it by just "OK. Thanks." I guess he was too lazy or had no time to look for another photographer.

I guess if it's the first job and you want to get the foot in the door it would be probably some kind of a strategy to go low on price but produce much better than the competitors. But I don't have the solution as to how to raise the price later.

 

[saberlancer]

So many possibilities..
No time to find smone else, last time wrk w you..

Really like your work, only raise 30% still v worth it..

For some people maybe nw charge too low or v low, when up 30% then still only mkt rate..lol

Etc etc..

I believe Willy Foo said b4 he still has early clients with special rates.

 

[sjackal]

I raise price every year. When starting out, a few times a year.

The problem with creative people is that (1) they don't know their real value and often price themselves too low, (2) they are scared/shy/terrified to raise prices.

The solution is to learn from great examples, like our train services, every so frequently they mess up, the whole country so angry with them, but their price keep raising. Why? Not just because its a monopoly - although it is, but the main underlying principle is people need them and lang pa pa lang have no choice.

Your client is used to the rapport with you. As long as you don't mess up and continue to keep him happy, you can raise prices as much as he can afford.

Also it depends upon your relative positions in the market to each other. For example if you are booked busy and happy enough when a new client shows up, the price quoted for them can be higher than usual because you can afford him not to take up your offer. The problem with quoting low for the first job is that in times to come you are then again faced with the problem of raising price to match up in future. Businesses knows this and will always try to secure and lock in low prices with first time vendors.

 

[Sion]

For some people maybe nw charge too low or v low, when up 30% then still only mkt rate..lol

How true. I think it's about confidence. Some new comers need to find the confidence to charge according to their worth.

However if they find themselves working with something not worthwhile their time and afford they will drop out the trade by their own will.

Every photographer will want to charge the highest market rate. But it's the competitors in our market who won't allow us to do so.

 

[raptor84]

I've raised prices to a level where the volume is comfortable. If I want more free time then need to raise again lor =p But yes I still have repeat clients who enjoy my older rates as well

 

[Agetan]

Things with pricing is this...

You sell it at the rates that you can sell it constantly if you are thinking of having this as a career.

To truly understand the rates you can charge is by increase it until you hit a balance between volume vs pricing.

Of course, this apply only for those who consider doing it themselves.

It is different case for a company who hire the photographers... there are a lot more consideration as far as pricing goes.

Regards,

Hart

 

[ellery]

Sion
You are a sweetheart - rush delivery aka 24hr turnaround is for most people I know at 50 to 100% loading. Remember you have to screw over the other guys in your work pipeline to do his first and still have to come back and may have to do 24hrs for them now that you are late. Trick is when to splat on charges. Some clients I have are like this, to make it fair to me , the rates reflect this… everything is bespoke nothing is ala cart.

 

[JasonB]

everything is bespoke nothing is ala cart.

To reinforce what ellery said. Every extra effort you do comes with a price.