4 Big Photography Money Myths To Avoid
Another post with photography pricing help is here! You have probably heard many tips about pricing over the years. I certainly have and it was not positive. You won’t believe how many photographers tell me it’s impossible to book clients. When I try to say otherwise, they refuse to believe it.
I have no choice other than to believe their story and assign it to them. They can’t book clients and they can’t pay their bills. That’s not your story and that’s not my story. Got it? That is NOT your story.
In this blog, I’m talking about the top 4 (plus bonus) photography pricing myths that hurt your business. Are you ready for photography pricing help? Let’s start!
Photo 1: photography pricing pyramid. You want to appear at the top of the pyramid and avoid the bottom at all cost.
Myth 1 About Photography Pricing:
If you raise your photography prices, you will lose your clients and they will go elsewhere. That’s not true! The truth is this: When you raise your photography prices, you will lose a few frugal clients. That opens your schedule for better clients who are willing to pay more.
Here’s the funny thing about clients leaving you when the price goes up. They’re telling you something important. Pay attention to the writing on the wall. When a client leaves after a price increase, they want a discount photographer. They will always want that and they’re not loyal to you or another photographer. They are loyal to the discount and they’ll always go shopping fort he lowest price.
Avoid of the Bottom of the Pricing Pyramid
They are at the bottom of the triangle where it’s the most crowded. That is where photographers undercut each other and often work for free. That’s who this client wants and you know what? Let them have them and let them jump from photographer to photographer. We are traveling up the pyramid.
Myth 2 About Photography Pricing:
Your competition is bad and you must destroy them and keep all your trade secrets from them. Have you heard this line about your competition?
Let’s break it down and see how you can win with your “competition” and not destroy your local market. On Clubhouse people would often suggest we call competitors for their pricing. They say we should lie about who we are. Theywill get all their pricing and try to get a sense of the market by pretending to be a real customer.
If you felt icky reading that, then you’re a good person because that type of practice is gross. Imagine someone doing that to you or another person you love. We have no idea what they are going through and giving another human false hope should be banned.
Here are 3 things you can do to fight myth 2:
- Call your local photographer and. introduce yourself. Don’t let them discover you, announce yourself. Don’t allow them to write a story about you in their head. Instead you will write and control the narrative. They’ll like and respect you more.
- Ask if you can take them out for a coffee and dessert. Coffee alone is frugal. Say you’re new to the market and you want to be respectful of what they built. This way you don’t come in and undercut the market, causing a bidding war. Not only will they appreciate this gesture but they will also respect you more and want to help.
- Do you have a competitor that serves the same type of client you do? Instead of spying on them with your secret Instagram account, send a DM. Ask if they’d be open to being allies with you? Maybe they have a client who needs photography but they’re booked. What a great way to earn referrals. Maybe you need to refer a client to someone reputable! This is why you say hello and turn your competition into peers.
Myth 3 About Photography Pricing:
Starting with a discount will give them more reason to pay you more later.
Did you laugh reading that? I laughed writing that. Here’s the thing about loyalty and perceived value, my friend. The clients who want a discount before any relationship will never be loyal to you. They will be loyal to the discount. Read that again.
Besides, they are loyal to their inner circle. That is their family, friends, neighbors and coworkers. Imagine thinking they will lie to the people nearest to them to keep your rate up. That’s not how it works.
When you give the client a discount from the start, they will see you as a reduced rate product. They will never see you as something to brag about. They will treat you like a bargain deal and when we see a good deal, we call our loved ones. We say “hurry up before it’s all gone!” and that’s the treatment you’ll get. I’m here because no one else will give you the truth.
Photo 3: Got it? We MIGHT discount later but it’s our choice.
Myth 4 About Photography Pricing Help:
If I offer them a great low rate, they will love me more. Wrong! In fact you are ruining their fantasy. Ever thought you’d be a part of someone’s photography fantasy? Well, you are!
Here’s the fantasy that you should know and it is a big deal with your photography pricing. They want to pay more because they saved up for you. They want to brag about you. They want to tell everyone how they photographed with you.
People rave about high-end photographers. They are often quiet with the discount photographers. Want photography pricing help? Keep your rates up because your clients will appreciate you more.
Wow, I’m a Little Mind-Blown And Warn To Learn More:
Great and I want to help with more photography pricing. I would really suggest you visit this blog next. It’s about 4 questions you MUST ask each photography client.
Bonus Photography Pricing Myth: It’s simple but important to mention. I want you stop telling stories that hold you back. Telling stories? Yes, telling stories that destroy your chances of success. Here are a few common stories you may have recited to yourself:
- I’m not that good yet, so I will charge less until I am better at photography.
- My photography pricing has to stay low because everyone charges a little in my area.
- If people want my photography then they will just approach me. I don’t think it’s good to push my business.
Have you heard or recited any of these lies?
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