Whether your business is up or down this year, we're into the busy season, and it will continue through the end of the year. You have to pay attention to the trends, your audience and all the vehicles at your fingertips to help expand your reach. Thanks to social media, you have the same reach today that only small newspapers and magazines had a decade ago.
This is number 15 in the series, and we're hitting on one of the most serious topics - pricing. There's no better place to start than with the Master himself, Sal Cincotta. This video is at least seven years old, but Sal's focus is entirely relevant, especially in today's competitive market. However, regarding building a stronger revenue stream, I expanded on the topic with more ideas to help you raise the bar on the products/services you're selling.
Is it time to review your pricing strategy?
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- Packages: Sal talks about different packages. Package pricing is perfect to allow you to put together various components for a limited time promotion.
- Talk to your lab: There's so much going on today, and you might want to add a canvas or metal print to the mix. Ask your lab a simple question, "What's new?"
- Be a full service photographer: Michele Celentano has made herself a "full service" photographer. She helps the client decide on the size of the portrait, the frame and then she shows up when it's ready, complete with hammer, level, and picture hooks! Nothing is preventing you from also becoming "full service."
- Extended coverage: As wedding photographers, you can create added value with extended hours of coverage or an expanded engagement session.
- Contact with your album company: There are so many add-on products to enhance the core album.
- Are you offering hybrid solutions? Slideshows are back with a vengeance, especially when you can combine still images with video and great music. Offer your clients a unique product and expand your reputation as a storyteller. And, Photodex could not make it easier for you to do!
- Holiday cards, invitations and virtually anything you can do with an image become a fun promotional addition to your mix of products. And don't forget framed prints, but you have to show them on your site and in your studio to plant the seed.
- Look for ways to cross-promote with other vendors. Get together with the limo company, florist, caterer, etc. and find unique ways to promote each other's products.
Last but not least, you've got to do a better than average job of getting the client to understand what an album is, especially in the wedding category:
A wedding album is the first family heirloom of a new family. It captures memories that years later are long forgotten and answers the question to an inquisitive granddaughter who asks, "Grandma, what did you look like when you and Papa got married?"
They're all just a click away, and each one identifies another aspect of business to help you make 2018 an outstanding year. There are so many different things you can be doing to build a stronger business, and most of them take so little time to add to your strategy!
And, if there's an area we haven't talked about yet, just leave me a comment and we'll start the research for a future post.