How to Fix Corporate Photography Pricing?
When you’re starting out as a professional photographer, you will face the question of how to fix the corporate photography pricing. I have prepared this photography pricing guide to help you to figure out the answer to this same question. Also, this guide will help you to decide on some pricing key facts and set a competitive and winning price for your photography services.
Corporate photography focuses on serving businesses with the photography at competitive prices. Not only that your work needs to be in first-class rating but also you have to kick out your competitors with the alluring pricing.
Here are some key points you can follow for better on your price -
Know your real cost
Most of the photographers tend to ignore their costing when setting the price. The main reason is- they are setting the price based on their local competitor without covering their cost. Looking into your cost is the first step to set a realistic pricing. If you think your pricing is comparatively more than others, then try to lower your total cost.
Tiered pricing is very famous in every business. You should offer small, medium and large package options to your customers. The reason for this is the natural human tendency to going for medium options. You should set the price to more than you expect to get average sales.
Base Pricing on your sales targets
Suppose my target for every wedding program I do is 3000$. So the pricing sometimes depends on your lifestyle. In order to have a decent lifestyle, I need to have at least 40 wedding programs. But it's not possible to do 40 for me in a year. So instead I attend 25 a year but upgrading the target to 4500$ per wedding.
Don’t Lower your price
If you start to decrease the money for your work from the start what will your client do? It would be very difficult to sell a service with a price that you think it’s not appropriate. You will not be able to convince your clients.
Corporate photography Pricing model approaches
If you are a product, interior, food, headshot photographers or someone like shooting extremely high-rated work, you may go for image-based pricing. It’s well suited where the quantity of images is low but photographs for advertisements, billboard or television campaigns. Hence you will charge premium prices for each photo as it is highly recommended and it’s proper standard way.
Hourly based rates:
If you are a wedding photographer, birthday, school/college/office events, you can charge an hourly basis. This pricing should include all of your expenses in traveling cost, pre-production, post-production, creating deliverables like frames etc. For headshot photography, you may often ask for a flat hourly session.
What Types of photographer are you? This fixes everything of your corporate photography pricing.
Photographers diversification webs various range of pricing for corporate photography. Such as there are a newbie, professional, hobbyist, entry level in terms of the experience of photography. Or, the basis on the specialty, there are portraits, wedding, real estate, wildlife, product photographers. So, taking all these in mind, there’s no other way than the variation in pricing to evaluate the prospective photographer.
Newbie and hobbyist:
If you are a fresher in the photography business, then you have to lower your expectation of income by photography. Such case, you may expect to $25-$75 an hour for blogs, local advertising photography.
Professional with experiences:
In photography experience is valued the most. Therefore, if you fall into this category you can normally charge $75 - $250 for an hour or an image. evaluating your equipment and experience your charges may vary.
Top professional photographer:
If you fall into this category, then you are the most ranked photographer and you are one of those elite photographers. You can charge beyond all like $250 - $500 per hour or $200 -$1200 per image.
Areas of specialty:
As a Portrait photographer, you can charge from lower to midrange to have more steady clients and specific season. You can charge $150 - $300 for each portrait session.
Wedding photographers price varies from $1500 - $3500 per session. Being a wedding photographer you have to offer top-shot photography, seasonal work, and high-pressure assignments.
Product photography has become the modern trend for e-commerce websites like Amazon, eBay or myriad department stores. Considering all costs, you can charge from $25-$150 per image. However, it may vary based on the nature of the product, studio setup, the complexity of the photoshoot, and usage of images.
As a final consideration to fix corporate photography pricing, you always have to be sensible and frank to the clients. Out of nowhere, you can’t charge expecting more profit. Your pricing should visualize your quality of work and every feature you are offering to your clients. No hidden charge or fee is appreciating in the corporate sector. It’s better to charge more showing the details of expenditure, but not less price with hidden costs to allure clients.