LIMITED TIME: SAVE $75 ON THE ULTIMATE IPS COURSE WITH CODE: IPS75  ||  MAKE THE SWITCH

The F Stops Here: Should I Lower My Prices To Compete?

The F Stops Here: Should I Lower My Prices To Compete?

Not so long ago, in a small town in the American Midwest, there existed no less than 5 photography studios: all branded in bright colors, along with the photographer’s name. Nestled in downtown, each studio storefront displayed cheerful young families, forever frozen in an almost identical pose.

For a small town with a population of nearly 13,000 people, that’s a lot of competition.

A quick look at those photographer’s websites reveals that those five studios are locked in a price war: lowering session fees and undercutting each other with specials, numerous discounts, and freebies just to bring clients through the door. Because the photographers are so similar, differentiating by price is the only way to stand out from the competition.

In an overly saturated market, lowering your prices to compete might seem like the only way to survive.

But there’s a different way, one we would urge you to consider.

In the small town described above, the value proposition (the value delivered to those who purchase their goods and services) of these photography studios is that they are offering images and session fees for very little money. Put more bluntly, their value proposition is that they are cheap.

If you are having difficulty breaking through in your market, think about what value you provide to your clientele. Are you:

  • The cheapest?
  • The most cutting edge, offering products that can’t be found anywhere else?
  • An aspirational luxury brand?
  • Specializing in gallery and design services?
  • Award-winning?
  • The most experienced?
  • Incorporating a different style or technique that can’t be found anywhere else?
  • Frequently published in magazines or online?
  • Able to appeal to a specific demographic or subculture?

In other words, why would someone want to hire you?

In order to market your photography to clients who will value your services, you need to figure out exactly what that value is first.

So think about what makes you and your business special and make a list. Immediately cross off items like “I take beautiful pictures” (a lot of people do) or “I preserve memories” (anyone with a camera can do that).

Clients want to know what you can do for them, beyond just having the lowest prices in the market.

Because despite what your cheapest clients might lead you to think, a market for sustainably priced, profitable photography does exist. Style, branding, and having an excellent customer experience are often far more compelling considerations than price.

But, you say, I would never drop $3,000 on boutique photography services.

That’s perfectly OK, because some clients will. For those clients, the value of your photography outweighs the cost.

So if you’re lamenting the fact that clients don’t seem interested in paying your rates, reframe your thinking to focus on the right clients--those who appreciate the value you are offering--rather than the right prices. Figure out your value proposition, and run your business accordingly. You’ll be amazed at the success that can result.

~ The F Stops Here is an exclusive collection of articles by Design Aglow, designed to be used and shared by photographers. Feel free to grab & share on your site, blog and/or social media pages with a byline and link to DesignAglow.com.




Also in Design Aglow Blog

Flat Rate Shipping is Here!
Flat Rate Shipping is Here!

0 Comments

Read More

5 Simple Strategies for Connecting with Other Vendors in the Photography Business
5 Simple Strategies for Connecting with Other Vendors in the Photography Business

0 Comments

There are any number of ways you can market your photography business: online profiles with paid and unpaid services, or social media advertisements. You could even go old school and try a radio ad or billboard. But we’re firm believers that one of the best ways to spread your good name is by good old-fashioned word of mouth. Because it works.

Read More

Travel With Photographers: Lisa Patey
Travel With Photographers: Lisa Patey

0 Comments

Visiting Paris has always been on my bucket list and my two best friends and I have been talking about planning a trip for what seems like forever. Finally, one day while perusing flight deals we decided to just go for it. The plan was to travel to Paris first, London second and take the train back and forth. In hindsight, flying into Paris would've been much easier, especially after a long flight and jet lag. But easy doesn't make great memories! The train was actually quite convenient and a great way to relax after a long flight. You can buy snacks (and WINE) for your 2 hour trip without even leaving the station.  

Read More