There are many myths about photography related to price and money. In this section, I’ll cover the big myths and expand on them in the video.
Here are 4 lies about money for photography
Myth One
If you increase the price of your photography, all your photography clients will leave you for someone else. While part of that may be true, it’s a good thing, and here’s why.
A customer leaving can be a positive situation as it allows you to have more room on your plate. When one customer leaves, another customer can enter. They have also signaled that their business is dependent on a bargain. If you’re a bargain photographer, they’ll come back. If you choose to leave the bottom of the pyramid, they will be looking for another bargain photographer. They are loyal to the discount, not the artist. Let them leave.
Myth two
Your competitors are terrible, and you have to destroy them and keep all your business secrets from them. Have you heard this line about your contest? You may have heard a version of this toxic view, and I wanted to share another. What if you introduced yourself before they found you? What if you greeted them before they formed a false story in their heads?
Introduce yourself to your competitors and turn them into colleagues. Ask how they like the market and how you can work together. Maybe they’ll share information that could save you months of grief. Perhaps they will be able to send you customers if they are already booked or vice versa! My video will help you dig deeper into all the reasons why you should turn your competitors into friendly co-workers. It’s a game changer if you’re willing to join a community.
How does this affect the price? It prevents competition between each other. You will communicate, and that means you will probably support each other and stop cutting each other off. That alone is worth the time investment.
Legend of Dad
Starting off with a discount will give them more of a reason to pay you more later on.
Did you laugh when you read it? I laughed when I wrote that. Here’s the thing about loyalty and perceived value: customers who want a discount before any relationship will never be loyal to you. They will be loyal to the discount.
After the initial round of loyalty, they will be loyal to friends and family. After friends and family will be colleagues and neighbors. Then friends of friends, and then, friends. Imagine that they would lie to the people closest to them to keep your rate up. That’s not how it works. When you give your customers a discount in the first place, they’ll see you as a bargain. Please charge your full fee!
Four legends
If I give them a great low rate, they will love me more. Wrong! In fact, you will ruin their experience with you and a professional photographer like you.
Here’s the experience: They want to pay more because they saved you. They want to brag about you. They want to let everyone know how they took a picture with you. This means you have to meet their expectations and give them a positive experience.
People rave about high-profile photographers. They are usually quiet with discount photographers. Want help with photography valuation? Maintain your rate because your customers will appreciate you more.
Remember that you are entitled to a living wage and deserve big payouts. No one is allowed to use your products and talents. You should calculate your salary and stop making excuses “lots of photographers in my area work for free or cheap” because that will only hurt you. If that’s how they judge themselves, let them. Let them take themselves out of the business. That’s not your story. Your story is about success. Get insights and bonus tips for taking photos in videos.
