How To Avoid Discounting Your Photography

There may be slow times in your photography business when you think the only way to attract clients is to change up your photography pricing strategy.

We’ve all been there!

Bills come in and there are no sessions booked.

This fear leads to a huge mistake:  DISCOUNTING your photography.

Here’s what we know. Price-sensitive photography buyers are rarely the type of clients you want if you’re following a boutique business model.

Before you cut your prices, we challenge you to consider to an alternative that is better than discounting—adding value to your existing offerings.

In your business, you can more readily attract the right clients by adding a value-added incentive when your clients make a purchase.

So what does that look like when it comes to your photography pricing strategy?

Instead of discounting your sessions and offering 50% off this month, consider this. Included  a free digital app of all images a client purchases for sessions booked this month.

You can also consider including a physical product that maybe isn’t even offered on your price list.  This wood keepsake photo box from whcc is a client favorite. It’s available as a value-added incentive when a minimum order investment has been made.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Using this value-added strategy with your photography pricing strategy focuses on rewarding your clients when they spend more versus discounting the product before they’ve made an investment.

By doing this, you keep your entire profit margin and you aren’t cheapening your brand to your clients. Your clients are motivated to purchase because of the extra incentive you are offering.

Take a look at the following photography pricing strategy example comparing straight discounting with a value-added option.

Strategy #1: Offering a 50 percent discount on a $500 session.

Strategy #2: Offering a product that retails for $250 as a bonus incentive for the purchase of a $500 product.

Strategy #1
$500 Product
– $250 Less 50 percent discount you offered
– $150 Less your costs for the $500 product
$100 Profit

Strategy #2
$500 Product
– $  75 Less your costs on the added-value item that retails for $250
– $150 Less your costs for the $500 product
$275 Profit

In this example, you make nearly three times more profit by offering an added-value bonus versus discounting the original item.

When you use this strategy, you’re attracting people who want something more and aren’t just focused on price, just like a boutique business should.

Want to Learn More?

To learn more about the boutique business model and how to make more profit in your photography business, register for our upcoming FREE live training event “3 NO-FAIL Marketing Activities for Finding the Right Clients.” Seating is limited so grab your seat now.