5 Tips to Know When To Raise Your Photography Pricing
When it comes to making more money in your photography business, you really only have two choices:
1. Photograph more people
2. Raise your prices
Perhaps you already have too much on your plate and the thought of taking on more sessions or weddings leads to feelings of overwhelm... so the only logical option is to charge more per client.
Many photographers resist raising their prices. After all, just even coming up with initial prices is a big hurdle so the thought of increasing them leads to a ton of uneasiness.
So how do you know if now is the right time to increase your session or wedding pricing?
Here are 5 signs to look out for before your next price increase:
1. You're booking out.
This doesn't necessarily mean that you have hundreds of clients. Every one of us has a different version of what "booked out" is. What's yours? 4 clients a month? 6? 10? 20?
Regardless of what booked out is to you, if people are clamoring to get on your calendar, there is a high demand for your photography services. And when there is a high demand for you, the market can bear a higher price point.
2. Current clients tell you you're too cheap.
When you're clients say "Oh wow! That's so cheap!" or "I expected it to be more than that," it's time to up your prices.
3. You're attracting the WRONG kind of clients.
You know the kind...the ones who are constantly complaining, asking for more discounts or are not happy with your process. They can be a huge suck on your time and your energy level...and quite frankly, it's just not fun working with those kind of clients!
Upping your prices a bit can help pre-qualify the people who book you because they are more likely to appreciate you and your photography talent.
4. You've mastered consistency.
This means you’re consistent in posing, in lighting, in post processing, and with client interaction. If you are going into sessions and/or weddings confident in your skills and consistently getting amazing results, you deserve to be paid in line with the higher value you offer.
5. You simply want to earn more money.
No need to feel guilty about wanting to earn more money. You put a lot of time, energy, and effort into your photography business, and as your skillset and experience increase, it's totally natural to earn more.
Not to mention, the cost of doing business and the cost of living is steadily going up too so it just makes since that what you charge will need to increase over time as well.
If you've known that you need to increase prices then DO IT. Do not wait for someone else's permission.
Ask yourself, what would feel good to charge per session or per wedding? What makes the most sense in this season in your life given your financial goals and time?
The next season can be one of the best financial seasons in your business if you just get out of your comfort zone and sort out your pricing!
Cheering you on!
Heather
PS. Need more pricing help? Grab our Free Profitable Photographer’s Calculator right below?