This week, with some help from Beth Crook (thanks Beth!) I raised my prices again... this time it was the biggest jump ever.

Reasons: I'm booking up WAY in advance, turning multiple away for each date, and after some math realized I wasn't pocketing as much as I'd like for each wedding.

Take a look: www.ryanestes.com/prices.htm

I'd love to get people's opinions as to whether they're too high/low with regard to what I'm offering for the $, quality of work you're seeing, etc. I usually use Leather Craftsmen for my albums. Thanks in advance...

Only the client can decide the value, but for up north your prices seem to be exactly average.

Of course, one reason for the previous popularity might have been that they were below average. I raised my prices $300 one time and my bookings went from 95% to 30%.

Hmmm....I'm not quite sure.

Just kidding

Structure looks good but I would list your packages from highest to lowest. Also, it may be your market, but I think that including all image files for $2195 might be a little low. Like I said, maybe that's good for your market.

Thanks for the feedback... we'll see how it goes. Tracy, I had originally listed the packages from highest to lowest but Beth suggested reversing the order. Two ways I can settle this: paper/rock/scissors between you two, OR does anyone else have an opinion?

Let's get some more opinions! I only suggested lowest first because putting on my recent bride head, the first price I saw was $6k+ and almost closed the website thinking "Wow, this dude is out of my budget range". I seriously did. Without even giving a chance to investigate further. With my photographer head on, I wanted to see more.

Thoughts?

Personally I would not list specifics on my website. I would do something like post a starting price for your services. If I was going to list what was included with each package I would not list prices, other than a starting price.

I feel that if you have everything listed you would have a lot of people trying to compare you to other photographers based solely on what they get at any given price point. I know us photograhers want to be judged on our art or style rather than price.

In print, I think that most marketing gurus would agree to list the whopper packages first. It is much harder for most people to start looking at lower priced packages and work up to where we want to be than to have a really outrageous package to make the others look like a bargain.

Just my thinking.....I am listening.

I do not have any pricing listed on my site. It needs a serious overhaul. When I do redesign my site, I will have a starting point and then list a few things that I offer but no complete pricing.

Hmmm... good thoughts, Tracy. I'll need to mull that one over but the more I hear people advocating this, the better it sounds.

I checked out your prices, and don't have specific feedback on what your packages include (especially because I'm not exactly sure of your market) but I DO suggest going through each item included in each package and figuring out what your cost of sale is. If you can get solid numbers on what it will actually cost you to give your client what is included in the package, then you can see where you are when you multiply that cost by 3.3 (this is somewhat of an industry standard, as far as the cost of sales percentage). If your packages are somewhere in the ballpark of what you get when you multiply your costs (ie-say $200 for example) by 3.3, this would would mean you are selling the package for $660. If you do this, at the very least, you will know you are making money off the packages. Of course there's much more to it than simply figuring out this equation, but imho, it's a great starting point. It's considered "ideal" to not have you COS be above 30-35%. So if your packages at least meet this mark, then you're off to a good start! Doing this has helped Chris and I realize which packages we're making the most money off so that we can market these packages more, and also has shown us that just because one package is priced higher, it doesn't mean that we're actually making more money off of it. Looking at your packages this way will help you see which ones are really the most profitable!
Just some food for thought as you continue the process!

OOPS- that was katie, not chris above!

That's a given.... I know very very little of what Katie's talking about, but I'm learning slowly! This is SUCH valuable info though to take the time to learn.

We've been going through Liana's Profit Center DVD and the info in there is invaluable. We can't recommend it enough.

This stuff is SO important to have a grasp on though!

Flip your price list.
Always show your highest offering first.

Mark

you might consider taking the digital negs off the lowest package

Your prices are very fair on weddings. I use LC as well, they are pricey as far as albums go, but I love the look of them and the customer service rocks.

I noticed your print prices are really low? Not sure if you have considered going up in price on the 4x6s. I hesitated for years and when I finally made that jump to $10 for a 4x6, etc. sales went up! not only that, but now I sell LARGER prints, not quite as many 4x6s. It is great.

Good luck to you with the new pricing. I am sure your work will be valued on a whole new level.

Jenny



Tracy, these are great points. I am going to be taking down the pricing on my site as soon as I can get to updating. After talking with Kevin Swan I am also going to have a starting point and let them guess from there. If I am already booked for 3 weekends in a month and someone comes to take my last Saturday with the family I just may bump that price up a bit, also if album prices, print prices increase now I can quote with a little "wiggle room"...just a good thing to do. I do like having the prices up there to avoid answering mails from people who want a wedding shot with an album for less than what I am willing to shoot for, but weighing the pros and cons I think a starting point is sufficient pricing.

Jenny

Interesting point re: print prices, Jenny. Anyone else have any experience with print sales jumping as prices went up?

I agree with Beth here...and maybe it depends on your area, but if I was a bride and saw your most expensive package first, I might think that it was your cheapest and not even bother to look any further.

I don't want to loose the customer, before they've even entered the store.

I list mine cheapest to most expensive.

+1

I don't list my prices on my website. I am a very convincing salsperson. Not because I am pushy but because I figure I am the product. I sell myself and what I can do for them. When they see a list of things they get for a price they forget they are also getting a person with that. I like to meet my brides or at least speak to them on the phone when we talk turkey that way I can answer questions and help put them at ease that I will take care of them on their special day.

I don't know about your adrea but If I offered your package number 1 in my area I would never book anyother package. The digital negs on that package make it too good. I would also take those off and reserve them for a higher priced package. If you want to offer digital files call have a proof CD with blog or email ready pictures. 4x6 at 72 dpi. You keep a product in the digital negative spot but they would still need to order from you if they want 8x10 11x14 ect.

Just a thought. I am not an expert. (insert legal disclaimer here)

Well, just received my 1st inquiry with the new prices and they want to add hrs on as well - WHOOT!

Lots of stuff to chew on from this thread... ditch digital negs on lowest package? Raise prices on prints? Rearrange package listings? What about other stuff to include in the packages -- say, a pair of "Ryan Estes Photography" underwear?

Thank you all for taking the time to help me out.

Who do you think you are?! David Jay?! LOL j/k

Congrats on the inquiry!! I told you to just get the new prices posted, wait a couple of days, and you'd be surprised at who will bite. And most likely the higher market you put yourself in, the more top packages will get booked and less of the cheapest

Ryan, ditch those digital negs! Make them work for it:) Don't sell yourself short, it isn't a "disc" they are buying...memories for a LIFETIME, your ART.

Good luck!

Oh and one more thing. YOU ARE WORTH IT.

PS - the "David Jay" comment was regarding the underwear

hmmm... lost on me, I think. Is it possible to get David Jay underwear? How does one get on that train?

Knowing this place, it will take less than an hour for someone to have a DJ thong for sale on cafepress


*EDIT* probably less than 20 minutes.

awesome!

Rumor has it, he may be putting up a few of his ninja outfits on his e-store....

I thought one of the girls made them last year on cafe press? I know there were shirts being made. It was just before a big GTG. Or maybe I was just having crazy dreams

Yes Ryan.....get those reprint prices up.

Mine are:
4x6 $15
5x7 $20
8x10 $30
11x14 $75
16x20 $200
20x24 $300......

I need to raise mine again. There are lots of folks here that have the $4 4x6 and the $8 8x10. Don't sell yourself cheap. I am considering dropping 4x6 all together except for flush mount albums and making my 8x10 and 5x7 price at $50. Just more food for though.........a lot of photographers are calling 4x6, 5x7 and 8x10 prints gift portraits or desk portraits and charge the same price for them all.

Update: 1st booking with new prices.