Pricing is so overwhelming.
You don't want to overprice, or underprice, or not price at all! In fact, pricing can also be thought of as a marketing tool, you want it to work FOR you, not against you!
Price is such a driving factor in today's society when people select you as their photographer. Remember we're selling the creative process, not just a piece of photo paper or the cost of a DVD. Focus on your passion, focus on your drive, and commit to pricing.
Imagine you're pulling up to a drive-thru and you order your value meal. They ask, do you want that small, medium or large? Which do you typically order? Medium! Society has ingrained in us this idea that middle range is best. Lower is bad, and More is too much. People are comfortable in the middle. It is important to remember this when creating your photography packages.
Here are a few other tips to help get you started!
1. Name appropriately
Naming is everything. Appropriate naming can help to streamline the process for your client while assisting them in making a decision. It's amazing how calling a package the “most popular” will draw people to that package.
Placement of your packages will mean a lot when your clients are choosing, especially if they are feeling overwhelmed. Place your largest package first. If it's the “big kahuna” package that you've put out there to drive people to your middle package the shock value of that package price will make them feel better when they move down one package to the middle, where you want them to be.
Best Value = This is your big kahuna package that you strive to have all your clients to want.
Most Popular = This is your target package of where you want your clients to go. Best for them and for you!
Mini = Bottom package. This package will be the LOWEST you can go before you start going in the negative.
3. Don't overwhelm your clients
I've learned pricing through practice and formal education, but it wasn't until I noticed how I, as a consumer, am driven to purchase certain packages. Even this past week I dropped into the pedicure chair, and quite frankly I just wanted someone to rub my swollen, preggo feet. However, when presented with the menu of pedicure packages I was OVERWHELMED with choices.
I ended up not even reading the menu and selected the "middle" package because I figured I would get a "good enough" pedicure without paying for the most expensive.
4. Don't underwhelm your clients
Lack of choices can lead to clients reluctantly choosing a package (thereby reducing their experience with you) or not wanting to order at all.
I hope this helps you out just a little bit on demystifying the pricing enigma! It's not a secret key to success - just a few tips I've picked up from education, personal experience and the many educational seminars I've attended the last few weeks!
And I may as well plug it, if you want more individualized help on pricing check out BizRevamp®, the legal business course for photographers.