August 7, 2023
We’ve kind of been on a little bit of a pricing kick the last few episodes, so it’s almost turned into a little series of different pricing things because when I talk to you guys, when I dig into our Facebook group, whenever I look at our DMs with each other, I realize that pricing is such a big conversation, and I know it’s because you love what you do, and sometimes it can be hard to charge appropriately when you’re passionate about what you do.
I totally get that, which is why today, I want to hopefully inspire you to know that there are clients out there willing to pay your prices, and I know sometimes it might not feel that way, but I want to inspire you and give you some actual data and information to show you what is possible and what is actually out there for you and your photography business.
A lot of photographers are charging higher prices because maybe a mentor told them to, or they didn’t want to drag down the market by undercharging, so they put themselves out there at a price that they actually don’t believe they’re worth.
Understanding the real cost of doing business can be an eye-opener. Calculate everything, including your time, equipment, editing, travel, insurance, taxes, etc.
This exercise helps you recognize that your pricing is not arbitrary, but grounded in real financial needs.
What sets you apart from other photographers? Is it your style, your customer service, your experience, your technique?
Do you offer a full custom experience for your newborn sessions? Do you come to your client’s home for the session? Do you offer more extensive retouching at no additional charge? For birth photographers, do you stay at the birth for an unlimited amount of time?
Understanding this can really help you believe in what you’re charging.
Reading positive feedback from satisfied clients can significantly boost your confidence. These testimonials are real-life proof that people see value in your work and are willing to pay for it.
Sometimes, an outside perspective can be enlightening. Speaking with a trusted mentor or peer about your pricing can provide validation and encouragement.
That is 100% false.
That’s why you see some people living in small houses, but taking luxury vacations – they value travel. Or why you see these gorgeous homes with a modest car sitting in the driveway, they value their home more than a car. Or why you see people who sacrifice other things in life to afford nice handbags or to get their nails done every week – it’s because that’s what they value.
I’ve had a wide range of clients who’ve spent a lot of money on photography not because they were wealthy, but because they value photography and they want quality.
Let’s look at this another way – think about Target and Walmart. Both have their appeal, but why do some folks choose Target over Walmart? Sure, Walmart might have lower prices on some items, but Target is known for quality, unique styles, and a particular shopping experience.
The same can be said for other luxury markets. Think about cars, handbags, or even gourmet coffee shops. People choose quality, branding, and experience over a deal every day.
So why would photography be any different?
There are careers and industries that are solid and thriving and have disposable income to spend.
Listen up – your financial situation is not your client’s financial situation. If you’re someone who doesn’t have the money to spend $2000 on birth photos it might be challenging to imagine there are people who do. But there are people who do.
In addition to those who will save and make it a priority no matter their income, there are also industries like software developers, surgeons, pharmacists and law professionals and executives who have the solid careers and income and are willing to spend it on a luxury service so they can have the memories and beautiful photos in their homes without taking the time and energy to plan and do much of any of it themselves.
I’ve even had NBA players hire us and an NFL player hire me and we don’t even have an NFL team in Oklahoma City.
Why am I telling you this? I want to inspire you and motivate you and show you the abundant side of the world and community so you’re not stuck digging yourself in a hole thinking there aren’t people with extra money right now or people don’t want to pay high prices for photography.
It’s our job as marketers and business owners to identify our niche and position our brand to attract those clients!
I hope right now you’re feeling excited and motivated and you’re choosing abundant thoughts and not scarcity thoughts. You’re listening to me talk and thinking “this is possible for me” instead of coming up with reasons why this is not possible for you.
If you’re currently feeling like you’re in this scarcity place where you’re worried about the future of the economy, you’re worried about your photography business, you’re worried if your prices are too high enough people will actually pay it, I want you to look at the groups on social media that you’re spending time in and the people that you’re allowing to speak into your life or the social media accounts that you follow that might be making you feel scarcity. Instead, flip those and start following luxury accounts, not just photography accounts, but luxury businesses and look at what people are saying. Look at how they’re positioning themselves and surround yourself with the right kind of mindset and people who are going to speak life into you and your business and not this like fear-mongering, scarcity type stuff. I promise you, we’ll make a world of difference and how you show up for your clients and for your business.
So friend, I hope that you will save this episode. I hope that you will keep it in your back pocket to when you’re feeling like, “Oh, man, everybody just wants a deal. Everybody just wants a discount.” And come back and listen to this pretty quick little episode to remind yourself that there are clients out there that are willing to pay your prices and the steps that you can take to get yourself to understand that that is possible for you too.
If you have a photography biz bestie who you think needs to hear this message to, you can screenshot this and text it over to them or copy the link directly and text it to them. That would mean so much to me because every time you do that, it helps the show reach new people, which keeps us doing this for free.
And my friend, if you have a passion, it’s not an accident because not everyone loves the thing that you love. Not everyone loves that niche of photography that you love. And whatever your passion is, it is there for a reason, and I hope that you will get out there, follow that passion and make it happen.
Have a great week.