Revamp Your Pricing Packages for Maximum Profit

Why Revisit Your Pricing?

Pricing is one of the most challenging aspects of business for photographers.  The amount you charge can depend on a variety of factors, including your location, competitor pricing, your costs, your target audience, your level of experience and more.

But regardless of where you are in your business, there are fundamental pricing strategies that you can apply to your business, which we will focus on for this week's challenge.

Minimum Viable Product (MVP)

Your lowest package should include the minimum products and services you need to get to a product you love.

While this is different for everyone, here are the general rules to follow:

• The client should not need to pay more to receive a complete, high quality product or service.  For example, avoid including an "album credit" if that album credit doesn't cover the cost of an actual product. Similarly, do not include a one hour engagement session if you typically need 2 hours to deliver the images you want.
• On the other end, do now include too much in this MVP and leave room for clients to upgrade to packages 2 and 3.

The Challenge

1) Watch Our FB Live

Start by watching FB Live in our group and reading the tips above.  

2) Adjust Your Pricing Packages and Ask Questions

Ask your questions in the comments of this post in our Facebook Group.  For this particular challenge, we are not asking that you post anything public, since we understand that pricing is a sensitive topic.