Here Are the 3 Keys to Raising Your Rates:
Key 1: Just Do It
The most important thing when raising your prices is that you just need to get over it and do it. Like Nike says.
Yes, it’s scary.
Yes, you’ve never crossed that line before.
But what you do know for a fact is that there are other photographers out there charging significantly more than you... So doesn’t it stand to reason that there are clients out there willing to pay higher prices?
It’s time to get over your fears and realize that if you want to be a successful photographer, you need to start making choices based on logic instead of emotion.
I admit - I was terrible at this for years.
I kept telling myself the age-old story most photographers believe: “I need to pay my dues for years and years before reaching that level.”
Well, that story is a lie.
There is no “level” you’re aspiring to.
There’s no Photography God out there saying, “Though shalt not raise thy prices until thou hast earned the right.”
You just need to say to yourself, “No more. I’m going to raise my rates!” And what will happen when you do?
Business will slow down.
For a while. But NOT forever.
Depending on how big your jump is, you might have to wait a few weeks or a few months before you get your next booking.
How Long Until You Get Bookings Again After Raising Prices?
If you currently charge $200 for a one-hour photoshoot, or $2,000 for a wedding, what will happen if you raise your rates by 25%?
You’ll be charging $250 for portraits or $2,500 for weddings.
And if you typically book five people per month, you might suddenly see that drop to one person per month.
But guess what?
Once that first person finally books with you at your new price point, your confidence will soar.
When that client sees you’re worth it, they will refer their friends to you. And their friends will believe you’re worth it.
And in the next month, you might get 2 more bookings.
And in the month after, you’ll probably another 3-4 bookings!
And by the fourth month, you’ll literally be getting just as many, if not more bookings than when you originally started!
You Can Choose to Believe Me or Not
You can stay where you are or trust me on this - your decision is not going to hurt me either way.
But just know that what I’m saying is true. It worked for me and has worked for thousands of other photographers.
You have to get over it and ignore the emotions telling you you’re a failure and your business is dying as you wait it out for 3-5 months.
Pretty soon you’ll start getting bookings again.
And before you know it, you’ll be looking to raise your rates again!
Key 2: Make it Easy to Work With You
The second key to raising your rates is to make it a pleasure to do business with you.
If you put all the responsibility on your clients and make things difficult for them, they won’t refer you to their friends.
Here are a few examples of how you can make things easier for your clients:
What Are the Results You Provide?
Ask yourself, “What is the real result I give my clients?”
If you shoot weddings, they aren’t hiring you because they want documentation of their special day.
They are hiring you because of what that documentation will mean for them.
What are their biggest challenges?
Well, just think about the opposite of the benefits you wrote earlier. Chances are, a bride is stressed because she currently:
Step 2: Transition into the results:
“Well, my main goal is to make your day run as smoothly as possible. I’ll be able to grab everyone and make sure they’re in the pictures and positioned properly, which means way less stress for you and better photos. I’ll even confirm ahead of time on whether you have any particular concerns on camera, like one side of your face that you like better than another, etc., so I make sure you look amazing in all your shots.”
Now the bride is thinking, “Oh my god, this photographer totally gets me and is perfect for me!”
She will likely not care at all about your credentials or the camera you use, or any of that stuff by this point.
Suddenly, that price increase of 25% is utterly meaningless.
Your client doesn’t care what it costs because YOU’RE EXACTLY WHO SHE NEEDS.
Avoid talking about your process and instead focus on the pain and benefits related to your work and you’ll have clients lining up to work with you, regardless of your rates.
Make things as easy as possible for every client you work with so they love the experience and want to refer all their friends.
And remember - the biggest barrier to raising your prices is the one you’re creating in your own head.
That’s why we discussed that at length first.
Just get over it and raise your rates - even if things aren’t perfect yet.
It’s much better to raise your rates BEFORE right away because that way, you’ll feel COMPELLED to make your work and marketing better to support it.
If you wait to make your business processes better first, there’s no time-based incentive to change!
So light that fire under yourself and create your success!!!
Are you a photographer?
Do you ever get angry that sometimes you’re booked with lots of clients and other times it feels like your business is dying and you’re stressed out of your mind?
What if you could have consistent work every month so you had a predictable, baseline of income that covered all your expenses?
Well I’m Martin Bentsen and I help photographers get booked solid.
I’d like to help you end the “Feast or Famine” in your business within the next three months.
And I’d like to help you for FREE.
“Catch Your Focus” is my free, 20-Minute Strategy Call to get your photography bookings consistent
I’ll help you get hyper clear on your messaging so clients line up to work with you, because they totally get how perfect you are for them.
We’ll also come up with a crystal-clear, step-by-step action plan to more than DOUBLE your photography business within one year.
And don’t worry - I don’t do hard selling. We're just gonna chat. If you want to hire me as your business consultant, that’s up to you.
My goal is just to help you reach yours. Sign up for “Catch Your Focus.”
Hey I'm Martin, and my goal is to help you reach yours. I love writing content about career advancement, marketing strategies, productivity, and much more.