Here are 4 common pricing mistakes made by boudoir photographers. Are you making some of these in your boudoir photography business?
Mistake 1: Charging too low
Charging low prices? You won’t be in business long. I have seen so many boudoir photographers come and go in my city, and most of them charged far too little. You might think it’s better than the hourly rate in your previous job, but that’s not enough. You have business expenses – even shooting from a home studio has significant expenses. Take a note of all your expenses, from the high cost of all your camera equipment down to the cost of a printer cartridge. Don’t forget the cost of your time and labour. You don’t want to just survive, you want to thrive!
Also consider what it does to the industry when you underprice yourself. It is important as an industry to lift each other up, to all charge well for our craft, so the public also values what we do.
Mistake 2: Setting your prices based on your competition
Years ago I contacted a glamour photographer whose work I really admired to find out his pricing. He was a published photographer who shot for mens magazines and was amazingly talented and a much better photographer than myself. When I saw his pricing I was shocked. I couldn’t believe it. His prices were so low.
My mind went into a panic. Why was he pricing himself like this? If he charged this low, how low would I have to charge? It destroyed my self confidence and made me want to underprice myself too. The lesson I learnt was if you decide to research your competition’s pricing, be aware it may just unleash a can of worms. It may cause you to second guess yourself, your prices and even your photographic ability. Just because an amazing photographer underprices themselves, it doesn’t mean you should too.
Mistake 3: Setting prices based on customers
Not everyone is going to be your client. And that is okay. You know the clients, the ones that just want the cheapest deal, or are just there to get one print and that’s it. Your prices should weed out which customers you don’t want anyway. You want your ideal clients, those who will happily pay your prices as they value what you do.
At some point, clients will likely question why you charge $250 for an 8×10 inch print, when they could get an 8×10 inch print at their local Kmart for only $3. I remember hearing photographer Bambi Cantrell’s awesome response to that on Creative Live. Bambi would tell the client ‘I can give you a photograph for $3 would you like me to give you one? So I walk in my office I get a piece of photographic paper and I bring it out and hand it to the client and it is blank. And you know why? Because the paper is only $3, but if you want my image on that paper and if you want one of my pictures, it is going to cost $x to get that. Because you can’t buy me for $3. You can get that blank piece of paper. But you cannot get my talent for that. Because this is our art form. You’re not buying a carton of eggs at the grocery store’.
Clients need to be educated on the value of your art work. They need to be reminded of your years of study and experience, your unique eye for photos, special photographic skill and ability. All those things come with a price tag.
Mistake 4: Not believing you are worthy of charging high prices
At my previous employment at a family photography studio, my boss charged $250 for an 8×10 inch print more than 15 years ago. She could not care less what the photographer Joe Bloe down the corner was charging for his prints and would never research the competition. She set her pricing based on what she felt she was worthy of and deserved. She believed in her experience and that her products were worth it and so she received it. And her turnover was more than a million dollars a year. So to say she knew what she was talking about would be an understatement.
Does that mean that, regardless of your photographic experience, you can charge a high rate for your work? Sure. But there’s a catch – only if you truly believe that you are worth it. As the saying goes ‘whether you believe you can, or you believe you can’t, either way you’re right’. Now before you roll your eyes and think to yourself ‘damn this girl has lost her mind’. Take a moment and have a think .. do you know of a mediocre photographer who is charging high prices and running a successful business? Sure you do.
Only you need to believe in your pricing. Believe in your ability and what sets you apart and charge a high rate for your work. If you don’t yet have self belief, I highly recommend saying affirmations. Sure, when you first starting saying them, you might feel like you are lying. But with enough repetition you will actually start believing them.
Or if affirmations aren’t for you, write down all the reasons why you are worthy of charging high prices. Keep adding to the list and read it often to remind yourself why you are deserving.
Have you made the above pricing mistakes in your photography business? Choose to walk your own path, as only you get to determine your worth. Make sure you value yourself highly.
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