- Have you ever been scathingly told
that you're undercharging?
Or have you been guilty of saying this
to another photographer?
The photography industry is rife with price shaming,
and here's why it makes no sense at all.
(mid-tempo electronic beat)
I get it, I really do.
Some photographers are undercharging,
massively undercharging,
and when they do this it gets harder
for those who are trying to earn a living in this industry.
So, I do get it.
But is every photographer that you think is undercharging,
actually undercharging?
It's absolutely impossible to know
without understanding three things.
Number one: their cost of doing business.
Number two: their business model.
And three: their financial aspirations.
Unless you know their costs,
how long they spend on each client,
and how much they actually want to earn for their time,
then you have no idea whether their prices
are too low or not.
They may be just perfect, for them.
The problem is, they're too low for you, right?
They're undercharging, in your opinion,
and in comparison to you.
It's totally natural to feel threatened,
and frustrated by this,
especially if you are struggling to fill your diary.
But here's a fact.
A photographer doing lots of quick
and basic studio portraitures, for example,
for cheap prices,
can earn the same profit, in the same number of hours,
as a high-end photographer
working with just a few luxury clients.
Who's to say which is the right business model?
These photographers are making the same profit,
in the same amount of time.
Don't clients who just want a quick shoot,
and a few images, deserve to be served?
Sometimes, I want a slap-up a-la-carte meal.
And sometimes, I just want a McDonald's.
And I'm glad that I have both options.
But that's not the big issue, is it?
The real problem is when a photographer
is offering an a-la-carte service
for a McDonald's price, right?
Because when they do this,
they're A) not earning the profit they need,
B) making it much harder for their competitors,
who charge a lot more for a similar service.
But isn't that just life?
It's not unique to the photography industry.
We had quotes for roof repairs recently,
and they were vastly different.
When we mentioned the difference to one roofer,
he launched into this tirade about these cheap cowboys,
and how they don't know what they're doing,
and they're destroying the industry.
It's not just photography.
This is everywhere.
So, why price shame?
You're not going to change anything by pouring scorn
onto those who don't charge enough.
You're just going to piss them off.
Now if someone is undercharging,
and they're not earning the profit they need,
let them learn that for themselves.
It's massively important in their journey.
Now, the chances are, they're new to the industry.
Often, business people take a hit in their first year
in order to get the experience that they feel they need.
If another photographer's cheap pricing
is really upsetting you,
then it says a lot more about your profits
than it does about theirs.
Because let's face it,
if you were making what you wanted,
you would not give a crap about their prices.
If they have not asked you for advice,
then it's not your place to give it.
Take a deep breath,
and move on to focusing on your business, and your profits.
The landscape now means that it's more important than ever
to stand out, and create a business
that cannot be compared to a cheaper alternative.
But what if you do get asked for pricing advice
from a cheap photographer?
Maybe instead of the scorn and the price shaming,
you could point them in the direction
of a good pricing exercise,
so that they can work out the right price point for them.
It's profit, not price, that we should all be focused on.
Price shaming makes no sense, and it has no purpose.
So how about we help each other get a handle on our numbers,
so that we can each create a business
that gives us the profit we need.
And that profit can, and should,
be different for each and every one of us,
meaning our pricing should be too.
And if you're looking for a thorough pricing workbook
and a calculator either for yourself,
or to recommend to others,
then look no further than this one right here.
You can download it at togsinbusiness.com/pricing,
or click the link below.
(mid-tempo electronic beat)