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CALLING ALL PHOTOGRAPHERS, KELS CONVERSE EDUCATION THIS WAY >
When to Increase Your Pricing as a Photographer
Key signs on when to increase your pricing
Talking about finances and pricing as a photographer can often feel sooo UNCOMFY, especially for us creatives who prefer to focus on our art rather than numbers. However, its SO needed in our industry, and I’m passionate about bringing light to the topics that aren’t often talked about, specifically around money! Understanding when and how to adjust your pricing is crucial for sustaining a successful photography business. And that is what I want for all of us, friends!!
Pricing as a photographer isn’t just about covering costs(CODB)—it’s about valuing your time, expertise, and the unique experience you provide to your clients.
In this blog, we’ll explore the key signs indicating it’s time to raise your prices, helping you confidently navigate this essential aspect of your business!!
Alright lets dive into when to increase your pricing as a photographer!
Key Signs on When to Increase Your Pricing
As a photographer, setting the right price for your services is crucial to maintaining a sustainable and profitable business. However, knowing when to adjust those prices can be challenging. Here are some key signs that it might be time to raise your rates.
1. High Demand
One of the most apparent indicators that you should consider increasing your prices is consistently high demand. You might think that a 100% booking rate is a sign of success, but it could also mean that your services are undervalued. If clients are flocking to book you and your calendar is consistently full, this suggests that you may not be charging enough for the quality of your work. Raising your prices can help manage your workload while ensuring that your income aligns with the demand for your services.
How do you know if you’re in high demand? This is a very general rule, but I’d say if you’re getting more than 10 inquiries per month consistently, and you’re booking 80% or above.
2. Increased Photography Experience
The saying “you pay for the years, not the hours” holds true in the world of photography. Your pricing should reflect the depth of your experience, not just the time you spend on a shoot. Over time, you’ve likely invested countless hours honing your craft, attending workshops, learning new techniques, and refining your style. This accumulated experience and knowledge make you more efficient and capable, delivering higher-quality results. As your expertise grows, so should your rates. Clients aren’t just paying for the time you spend with them—they’re investing in the years of experience that enable you to capture their moments beautifully and efficiently.
Check out 7 Money Management Tips for Photographers
3. Enhanced Client Experience
As your business evolves, so does the experience you provide to your clients. Perhaps you’ve started offering more in-depth planning assistance, providing clients with detailed guides, or adding personalized touches that enhance their overall experience. These improvements increase the value of your services beyond just the final images. Whether it’s the peace of mind you offer through careful planning or the ease of communication you provide through efficient tools, these enhancements contribute to the overall client experience. As these aspects of your service improve, it’s only natural that your pricing should reflect the added value. Your rates should align with the premium experience you offer, ensuring that your pricing accurately represents the comprehensive service your clients receive.
This experience also goes with your knowledge. The more experience you have, the more knowledge and prep that you can help with. It ensures that you are going to have advice and helpful information than a newer photographer may have.
Check out How to Create an amazing client experience
4. Market Research and Industry Standards
Another important factor in determining whether it’s time to raise your prices is staying informed about industry trends and standards. Regularly researching what other photographers with similar experience and offerings are charging can provide valuable insight into whether your rates are competitive. If you find that your pricing is significantly lower than others in your market, it may be time to reassess. But remember, you need to more focus on YOUR demand, and YOUR experience.
Additionally, consider the cost of running your business—if your expenses have increased, your pricing may need to follow suit to maintain profitability.
5. Professional Growth and Recognition
As your reputation grows and you gain more recognition in the photography community, your value as a professional naturally increases. Awards, features in publications, or even a growing social media following can be indicators that your work is in high demand and valued by a broader audience. This recognition should be reflected in your pricing. Clients are often willing to pay more for a photographer who is well-known and highly regarded in the industry, as it gives them confidence in your ability to deliver exceptional results.
Read up on my Utimate Guide to Creating a Pricing Page that Converts
My general rule of thumb
When I was first starting in photography, I knew the price I wanted to be at. However, the road to how in getting there can be difficult. I was listening to Jenna Kutcher’s podcast, a well known business educator. She mentioned that she would just slowly raise her prices every few bookings.
So that’s what I did, and it worked. A lot of people wait until the next year to raise their prices. I personally had a rule of every 3 bookings, I would raise my prices $200-$500. This of course was based on my demand and experience! But remember… the more you book, the more experience you get. The more you have people raving about you. The more content you get to have.
Feel free to use this rule of them! It has been a game changer for myself and my students.
Need help with your pricing as a photographer?
Raising your prices can be a daunting decision, but it’s an essential step in the growth of your photography business. By recognizing these key signs—high demand, increased experience, enhanced client offerings, market research, and professional recognition—you can ensure that your pricing reflects the true value of your services. Adjusting your rates not only helps you maintain a sustainable business but also signals to your clients that they are investing in a premium service.
Here at Kels Converse Education, we’re diving into allll things money, boundaries, client experience + beyond. If you’re looking for a community of like-minded photographers to grow with, check out my Biz with Boundaries Mastermind! I‘m a firm believer in accountability being a catalyst to growth! My goal is to see other elopement photographers thrive in their businesses and live the life they love!
