If you find yourself glued to your camera seven days a week, it might be time to shake up your photography-pricing game.
Whether you're snapping shots at events, welcoming clients into your studio, or selling your art, the eternal question remains: How much should you charge, and when should you change your rates? And when you do decide to tweak your pricing, how do you figure out the magic number?
Here are five telltale signs it's time to adjust your photography prices (up or down!), along with some advice on how much to adjust them and how to break the news to your clients.
If your calendar's bursting at the seams, it's a surefire sign you're the go-to photographer in town—or beyond. And if you're having to turn clients away, that's your cue to start thinking about raising your rates.
It can be difficult to increase prices immediately, so send an email to past clients and current leads to give them a heads-up that your rates are about to change. You can also post to your social-media accounts to let people book holidays or occasions in advance.
When it comes to how much to adjust your prices, let demand be your guide. If you have a large waitlist, consider a higher amount, such as 50%. If your waitlist is shorter or you have a regular influx of leads, try a lower amount: 20% for a trickle of new leads, or 35% if you're swimming in inquiries. You can always increase later if your calendar stays booked.
Pro tip: Don’t panic if a few clients complain. Even if a handful jump ship, remember that a 20% price increase means more cash in your pocket and more time to savor that work–life balance.
If you’ve noticed print sales are slowing and seasonal spikes are down, it may be a good time to think about reducing prices. But that isn’t your only option.
Try creating a photo package where people save 20% if they buy multiple prints or sizes. If you have an email list, try sending a custom deal to previous customers and share new photos you think will sell. These short-term fixes can help tide you over until demand picks back up.
If you discover your market is saturated, a price reduction may be the solution while you expand your reach to new customers or open shop in another market or niche. Don’t panic! Every photographer hits a dry spell now and then.
Costs to run a business can always increase—sometimes unexpectedly. A landlord could increase your rent. Gear breaks. Clients demand new trends that require new equipment.
If you’re scared to do an increase across the board, start small. Try selecting only a couple of offerings or tossing in a few add-ons to sweeten the deal, like bonus prints or limited-edition backdrops. Or change up your portrait sessions with some fun props. Not only will it add value to each session, it can also make you a trendsetter in your market.
Pro tip: When adding bonus prints, focus on lower-cost items that clients perceive as high value, such as upgrading the print size or material type. Metal, wood, and acrylic prints all offer an extra special touch to meaningful photos.
Getting featured in glossy mags? Picking up steam on social media? That extra boost to your brand can mean big money.
Before you increase your prices, update your portfolio to feature the images that took off and brought you recognition. You’ll also want to reference them on your homepage and potentially add an “as seen in” section with logos. Remind folks that you're the mastermind behind the trend—and why they should be booking you.
Pro tip: If your photos are being featured across the web, ask site editors if they can link your art or name to your portfolio. Not only will this help potential clients find you more easily, it can also help boost your search-engine optimization.
The biggest sign it’s time to increase the price of your photography services is when you’re overworked, facing burnout, and notice everyone else is priced above you.
To figure out your fair market value, start by scoping out the competition. Check out what other photographers in your league are charging, factoring in everything from experience to turnaround times:
Now pick a price that's in the middle of the pack—or maybe a bit higher. You’ll be making more per session, so even if a few clients leave you’ll still be making the same or more as you were—and you’ll have reclaimed a part of your life.
Knowing when to change your photography pricing is half the battle. Knowing by how much and if it should be permanent is the next. Once you recognize the signs, the rest becomes easy.
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