It could be a big, fat engagement ring, a rug at a flea market or a puppy – people are going to ask, “How much is it?”
That question has two different feels – am I right? If you’re asking, it’s intriguing – full of wonder. When it’s answered, you’ll discover if your estimated value of ‘X converges with an amount of money that you may, or may not want to part with. If someone asks you, “How much is that?” – pointing at your custom wedding albums – and you’re not rock solid about your pricing – you may feel a little twinge of panic. You might even be preparing yourself for rejection. “OMG they’re gonna say no what do I do?!? It’s too much money – I know – I didn’t really want to sell them anything anyway…sigh.”
So let’s get over this.
We all need to know where our hard earned dollars are going so why get all freaked out when customers ask for pricing on wedding albums and collections? Admittedly, asking for money is not for the weak of heart. It might be easy to ask to borrow ten dollars from a friend for lunch, but go ask a couple for several hundred dollars in exchange for a professional wedding album, and things get all weird. The images inside a wedding album tell the story of one of the most important days of someone’s life, nevertheless, seeing a bunch of dollar signs will make most folks tap on the brakes. Here’s the deal, that’s a normal reaction. Admit it, you might react the same way when presented with a sizable bill. What needs to happen here is that “merging of perceived value” into a number, a dollar amount, that make sense to your client. (That’s a different blog all together.) But first, you need to get your numbers in order. Your investment in time and cost of goods, and the resulting profit must work for you.
So, how much IS it? Pricing can be a struggle for photographers who are just starting to offer custom wedding albums or those changing up their collections. Maybe you’re cool with your collection pricing but you’re like a rubber band when it comes to sticking to the numbers and your profit margins are dismal. Perhaps you’ve carved out a rock solid multi-tiered pricing schedule but after explaining it a dozen times to your client even your eyes glaze over.
Every photographer is different and there are no cookie cutter solutions, but sound knowledge and confidence in this area is essential. This is where our Partnered Support can help. Zookbinders team of working professional photographers and sales experts can share pricing models suggesting and workflow solutions for albums and collections that your customers want.