How To Be Sure Your Price Lists Are Doing Their "Job"
Here are the major "check points" to use in evaluating whether or not your price lists are going to do the job they must do for you - which is to help you book clients who are happy to work with you and pay your prices - without your having to discount your prices.
NOTE: If you'd like more secrets about PRICING & PACKAGING, as well as hear from 4 Mystery Guest Photo Experts - Check THIS Out As Well...
by: Charles J. Lewis
1. First, a review of a couple very important points:
a. Price Determines Everything - if you don't charge enough, then you won't receive any respect or cooperation from your clients.
b. It's Not The Price That Matters, It's How You Present It. This is true both in how you merchandise and how you "sell" the prices to your products and services to your prospects.
c. Raise Your Prices Twice A Year, Every Year,10%-20% Each Time. THIS IS VERY IMPORTANT! DON'T SKIP THIS! (For weddings, I actually prefer to "never book two weddings at the same price." By this, I mean that each time you book a wedding, you raise ALL your wedding packages a tiny amount - like 3% or 5% - this way, your prices are always slowly increasing. Very important!)
d. Remember The Principle Of The Price/Value Relationship - The More You Charge, The More You Are Worth!
2. Are about 2/3rds of your clients or prospective clients complaining about your prices? Even a small complaint? If not, your prices may be too low.
3. How simple are your price lists to understand by someone who doesn't understand photography?
4. Do you begin with your best, and work your way down, rather than beginning with your least expensive products and services and working your way up?
5. Do you have a "Whopper" for each service you offer? Very important! - Note, a WHOPPER is the most expensive package or photograph - the one you expect NO ONE to invest in. It makes all your other packages and images seem inexpensive by comparison.
6. Be sure your price lists don't use professional "lingo" like "units" etc.
7. Does your price list annoy people by having all the things they really want "extra add-ons?"
8. Is your price list a left brain or a right brain presentation of your prices and services? Remember, people invest in portrait and wedding photography for emotional, right brain reasons, so be sure your price list is an emotional presentation of your prices - at least as emotional as possible.
9. Does your price list begin with one or more of your Unique Factors? Or does it just have the prices and sizes on it?
10. Does your price list use the correct vocabulary? Such as "creation fee" instead of "sitting fee."
11. Do you have a maximum & minimum of 3 choices - (good, better, best)
12. Does your price list include a description of the good, better, and best? Does each have a name?
13. Do you have choices of both "a la carte" and packages? For graduating seniors, this is a really powerful way to increase your sales - if the packages are created correctly. For weddings, I recommend you have only packages for your primary services. Then you can have a la carte and packages both for reorders, etc.
14. If you have packages, what are their names? Be careful not to use names like "standard", "regular" or "economy" , etc.
15. If you have packages, do you always clearly tell them on the price list how much they save by selecting each package, opposed to a la carte?
16. If you have packages, do you list the investment for each package at the top of the description of what's in the package, not at the bottom?
17. Do you charge a prepaid creation fee for portraits, and is it obviously not a deposit? Is this concept presented in a positive way?
18. Do your price lists leave the studio at any time? (they shouldn't - but there is a great way to give them the prices to take with them without letting your price lists out of the studio...)
19. Do you include frames with the portraits? (Don't do that.)
20. And last, but not least, when a non-photographer glances at your price list, is it SIMPLE TO UNDERSTAND? (I know, this was already mentioned above, but it's sooooo important that I
wanted to mention it again!)
There's your checklist. For more secrets on PRICING & PACKAGING, as well as to hear from 4 GUEST PHOTOGRAPHIC EXPERTS revealing their secrets to marketing, pricing, packaging and selling of photography - simply click on the link to the RIGHT to signup for the FREE LIVE teleseminar event coming up on August 26th, 2008 ONLY!
Go For It!
CHARLES J. LEWIS ONLINE NEWSLETTER
Marketing & Sales Secrets For Charles Lewis
Photographic Members ONLY!
Photography Marketing & Sales Secrets
How To Bring In Lots Of Clients In A Steady Stream, and Make BIG MONEY Working 35 Hours A Week Or Less - All From Photography