I started this series to give you small doses of things you can do to fine-tune your business and help make 2018 your best year in business yet! My Friday "specials" are in no particular order, but have been topics that popped into my head sometime during the week usually as a question from a photographer or thread in a Facebook forum.
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?
One of the biggest challenges is being competitive WITHOUT discounting. It starts with the quality of your work and finishes with exceeding customer expectations. Your goal is to make yourself habit-forming and you can do it without getting into a pricing war in your market, which turns your work into a commodity!
Find Alternatives to Discounting!
Sal hits on it in the very beginning talking about nothing being more destructive to your business than lousy pricing and discounting is all part of that challenge. I know we live in a SALE driven society, but there are ways to add value to a promotion that doesn't require you to turn your business into a battle with your competitors.
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?"
Missed any of the past Fast Food Friday posts?
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.
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