What do you think of photographer who charge above market rates?

[bowwow]

to me is the rates, where u price yourself in the market.

 

[Blur Shadow]

it is just a simple illustration which I think most people can understand easily.

many people making mistake of thinking they can make enough profit by selling more cheap assignments.
but which is very wrong, we are not selling some products, which is not manufacture by us,
we are offering an unique service to each individuals customers with different set of requirement.
how much assignments we can take has a limit, taking too many assignments we simply have no life, and will burnt out very soon.
that will surely cost us dearly.

when photographers are young, still staying with parents, they have no idea of the cost of living in Singapore,
when reality bits, they have to live on their own, support his own family, and their own parents.
they find out they can't do cheap assignments any further,
most of them will just quit, not because their work no good, but they don't have the time and money to detour.

Absolutely true! I just wish to add a bit more perspective!

 

[Blur Shadow]

i feel the market is divided into 3 segments for rates. the lower-to-middle, the middle-upper and the upper segments of the market.

Here is my take. 3 segments as well.

1. The "Pits" - utterly low and unsustainable prices, meant to cover variable costs, no way to earn any profit in the long run.

2. Moderately sustainable - "in-between" pricing, charging a slight premium for clients who wants more, supported by collaboration with wedding studios etc., which pays peanuts, but provides for a more stable volume.

3. Premium - folks who are able to impress people with the skills, before talking about fees. Photographers who are able to differentiate on other factors and expertise.

Ultimately, any business owner needs to discern what works for them, what doesn't. But I can assure you that a sole photographer is unable to make it big in the first 2 segments.

 

[Blur Shadow]

The way to move up the segments is to:

1. Develop a unique set of expertise / service / skill etc. that is not easily replicated by rivals. This is your unique selling point.

2. Learn to move out of your current market segment and look for new clients with greater buying power.

3. Understand what is the expectations of the new segment and meet, if not exceed, the requirements.

All these require a paradigm shift in the photographer's personal attitude, working style, inter-personal skills etc.

 

[Kit]

In a market like this one, its an achievement to price yourself higher than others and still get business. You have to talk to the right audience, not just everyone that comes along. For the price you charge, you have to offer your clients something extra and tangible. Delivering the photos as promised is the very least you can do.

I'll take what I do for example. Many people do not think much about photographing buildings. The building is always there for you to photograph. What's so great about things you do? Most people don't understand that buildings "behave" differently at different time of the day, different time of the year. A lot of time had to be spent on planning the shoot. A study of the building and a plan will precede everything else. This will display your understanding of the assignment and to a certain extend, provide assurance to the client that you know what it takes to get the job done. All these takes time. Time=$.

This is why I like working with corporate clients. I can provide a paper trail justifying why I can charge higher. These people can afford to pay but they need justification to satisfy the finance department. Its a challenge to remain competitive, especially when you first start out. Once you have secured a regular stream of assignments from your cliants, don't look back. Of course, maintaining good working relationship with them is critical.

 

[Kit]

To make yourself stand out, you've got to identify what's important and lacking in the market. Then go for it.

 

[bowwow]

It's very true what Kit said. An understanding of what you are shooting gives u a huge advantage and this advantage translate to value for the clients. the same goes for my field of speciality, I have an intimate knowledge of the genre that I shoot having been involved in the industry. My clients appreciate that fact.

 

[Agetan]

Good to see the good flow of useful information... I think this is what we need to do more rather than focusing on the negative.

 

[seven311]

.....

 

[wildcat]

In some scenerio that I've encountered:
1. I take reasonably decent photos which I share with friends on FB.
2. Friend hoping to pull a fast one, ask friends to take photos instead of a pro photographer.

I've made this mistake before also, offering services for cheap or free. Now I will just refer them to list of available photographers and save both parties some grief. It's not that I can't take the photos, but seriously, I have better things to do than ensure you get reasonable quality photography (my time is not free, equipment to take wedding or events is not cheap, and well, I take enough photos that I don't need to sit in front of computer doing post processing for you when I don't even do it for my own photos anymore).

If you are one of my best friends though, I will still do it for friendship if you ask me (there are only a handful of people - and these are also people who know better than to ask me). This goes for my daughter as well, who gets free photography because daddy thinks his photography good enough that she doesn't need a pro photographer :bsmilie: (again, this is where I prefer to spend my time on).

 

[bowwow]

If you are one of my best friends though, I will still do it for friendship if you ask me (there are only a handful of people - and these are also people who know better than to ask me)..

there are also the friends who truly value your friend that they insist you not take their wedding photos and instead come as their guest to be part of their special day. these are the best.

 

[marlboro]

think about this like the pyramid, the higher tiers it goes, the lesser pieces of bricks it has.
there won't be everyone charging super premium prices, there won't be enough customers to support them.

lets take Chicken rice for an example,
many people like to eat chicken rice,
you can find $2.50 at most places neighbourhood hawker centres or factory canteens, they provide the most simple dish, noting fancy
you can find $1.00 chicken rice from time to time, but you may have to order two to three plates to fill your stomach
those sell chicken rice at air-con food courts, price start from $3.50, some offer set set meal at $5.50 or more
and some restaurants specialise sell chicken rice only, their simple set start $7.50
and 5 stars hotels do sell chicken rice too, their price noting less then $20.00.


if you (customers) like to have chicken rice (engage photography service),
you (customers) will pick where to eat (hiring photographer), what kind of chicken rice dish (spending on photography services) base on your (their) budget,


we can have our favour chicken rice at many places,

and we should have some realistic expectation of a gourmet chicken rice set won't sell for $2.00.

Hi catchlights, may I know where you grabbed the chicken rice picture from?

 

[catchlights]

Hi catchlights, may I know where you grabbed the chicken rice picture from?

found images from the Google images search.

https://www.google.com.sg/search?q=...14DQBA&ved=0CAcQ_AUoAQ&biw=1920&bih=955&dpr=1

 

[marlboro]

found images from the Google images search.

https://www.google.com.sg/search?q=...14DQBA&ved=0CAcQ_AUoAQ&biw=1920&bih=955&dpr=1

Hi catchlights,
Thank you for the clarification. I was just curious as the shot was done for Meritus Mandarin.
Thank you for the good work done to maintain this forum.
Cheers.

 

[Shizuma]

im not a pro photographer.

but I do run a small creative-industry business.

What I think is...

1) How do they get their competitive advantage

2) How may I also get this if possible!