Today’s Post by Joe Farace
I can just remember being broke, wondering if I had any talent – really wondering whether this was all a fantasy but I had to get out there and keep trying.–Lenny Abrahamson
The above quote sums up some of the thoughts I’ve expressed here and in my books about how some photographers think the only way they can attract new clients is by offering low-ball estimates that undercut their competition. These shooters seem blind to the fact that short-term thinking like this does not build client loyalty and only reduces an operation’s profitability.
Its Not about Price
I’ve heard people in the photo world refer to these low ball estimates as “giving away your work” and I think that’s a fair analogy. While some photographers believe customers will only flock to them if their day rate is inexpensive (read “cheap”), that doesn’t mean the concept of discount auto parts isn’t valid. The difference is that low prices were part of the car parts company’s business plan. Is that your plan?
There are on-line resources that can help with pricing your work–let your favorite search engine be your guide–but no matter how you do it, pricing your products and services should be fair, competitive and allow you to support your family and pay any employees a living wage. Photographers sometimes forget this kind of basic business practice when they’re in a cash flow slump and trying to pay bills. The problem with cutting prices when times are tough is that you might not survive the cost cutting process.
How Mary Made this Shot: Fians of Tiffen’s Contrast filters will like using the Olympus E-30’s Light Tone Art Filter. The exposure for this image was 1/500 sec at f/10 and ISO 200. For this particular camera only one option is offered, so you don’t have the Soft, Low, and Ultra options Tiffen provides with its on-camera contrast filters. This effect in the E-30 typically produces a color image but this was converted to monochrome with Silver Efex because I thought is made more of an editorial statement.,
Please don’t misunderstand
I’m not talking about occasionally giving some of your long term, good clients a break from time to time. Far too often, a voice on the telephone you don’t know asks you to cut them a deal and my response has always been that I reward customers for their loyalty. At the start of a business relationship, everybody pays the same prices but repeat customers are, from time to time, given favorable considerations.
The same is true when asked to work with charitable organizations. The danger is that once the word gets around about any freebies you’re offering, other potential clients may come knocking at your door and expect the same deal. A better way for photographers is to get involved with providing services for specific events that a charity might be involved in that have a high visibility and deliver real public relations value to your studio.
The bottom line is reflected in one of Farace’s Laws: If you don’t watch your bottom line, you can’t expect others to do it for you.
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