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Day 11: Pricing For Profit Part 2

Lesson 20 from: 30 Days to Design Your Portrait Business

Lori Nordstrom

Day 11: Pricing For Profit Part 2

Lesson 20 from: 30 Days to Design Your Portrait Business

Lori Nordstrom

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Lesson Info

20. Day 11: Pricing For Profit Part 2


Class Trailer

Day 1


Day 1: So You Want to Be a Pro Photographer?


Day 2: Setting Up "Shop"


Day 2 Bonus: "Setting Up Shop"


Day 3: Getting Organized for Success


Day 3 Bonus: "Planning"


Day 4: Studio Image


Day 4 Bonus: "Studio Image"


Day 5: Defining Your Niche


Day 5 Bonus: "Your Niche"


Day 6: Defining Your Target Client


Day 6 Bonus: "Your Target Client"


Day 7: Marketing Part 1


Day 7 Bonus: "Marketing - Part 1"


Day 8: Marketing Part 2 Ideas For implementation


Day 8 Bonus: "Marketing Part 2"


Day 9: Networking


Day 9 Bonus: "Networking"


Day 10: Pricing For Profit Part 1


Day 10 Bonus: "Pricing Part 1"


Day 11: Pricing For Profit Part 2


Day 11 Bonus:"Pricing part 2"


Day 12: Projections for 2014


Day 12 Bonus: "Projections"


Day 13: Scheduling and Planning


Day 13 Bonus: "Scheduling & Planning"


Day 14: The Inquiry: Handling Emails & the First Phone Call


Day 14 Bonus: "Initial Inquiry"


Day 15: Client Education & Customer Service


Day 16: Defining Your Product Line


Day 16 Bonus: "Product Line"


Day 17: Packaging Your Product


Day 17 Bonus: "Packaging"


Day 18: The Portrait Consultation: Designing & Planning Session


Day 18 Bonus: "Consultation"


Day 19: Photographing at the Client's Home: Shooting for the Wall


Day 19 Bonus: "Wall Concept Shoot"


Day 20: Shooting On Location: Client's Home with Older Kids


Day 20 Bonus: "Mandi Shoot"


Day 21: Shooting On Location: Client's Home


Day 21 Bonus: "Dryden Shoot"


Day 22: Adding Video to Your Portrait Sessions


Day 22 Bonus: "Adding Video"


Day 23: Shooting with Studio Light


Day 23 Bonus: "Studio Lighting"


Day 24: Portrait Workflow


Day 25: Sales


Day 26: Handling Objections: Finding Your "Yes" Answers


Day 27: Special Events & Mini Sessions


Day 28: Charitable Events: Give & Get Day


Day 28 Bonus: "Charitable Marketing"


29: When Should I Hire Help? When Should I Go Retail?


Day 29 Bonus: Skype call with Lori & Carly


Day 30: Goal Setting & Motivation


Day 2

Day 3

Day 4

Day 5

Day 6

Day 7

Day 8

Day 9

Day 10

Day 11

Day 12

Day 13

Day 14

Day 15

Day 16

Day 17

Day 18

Day 19

Day 20

Day 21

Day 22

Day 23

Day 24

Day 25

Day 26

Day 27

Day 28

Day 29

Day 30

Lesson Info

Day 11: Pricing For Profit Part 2

All right, I'm excited to get going today and talk a little bit more about pricing we left off yesterday on day ten talking about pricing for profit and today we're going to go through a couple of different pricing models through ala carte pricing through packages and through build your own packages and you're going to see my men use as we go through so here we go we're just gonna get rolling pricing part two ala carte is of course the most basic form of setting up your pricing and that's where everything is going to be priced out individually we're not putting packages together we're just leading clients through what is best for them and this is what I use in my studio for my regular clients that come in on a day to day basis this for all of our family sessions and regular children sessions if it's not a special event and so and the reason that I do this is oh, and just go with allah cart with these families is because I am bleeding them through every step of the process I'm designing...

custom for them based on their home decor, their lifestyle you know where we're going to be designing for were planning their session together based on their home court and so by doing that because I've custom designed something for each and every client, then it's very easy to lead them through a an ala carte products menu but one thing with the product in union you'll hear me call the product menu always and not a price list because it is showing products and I highly highly encourage you to put a product menu together and not just a list of prices and that is something I started doing back in about two thousand one two thousand two I totally got rid of the price list when I realized I needed to raise my prices and I needed to present my my products in a new and different way and I realized that you know, I would never ever ever buy something especially a high end item from a list of words and numbers you know that just doesn't make sense we've got to see what we're buying teo be able to understand it and so I started putting products into the menu so I'm gonna just go through and flip through our product menu here just starts with the front page I always date my products menu usually seasonally and so it's going to say you know, fall two thousand thirteen or winter two thousand thirteen and what that allows me to do is it allows me to change it whenever I want and so we can go through and there's I'm never you know bound to something that just says two thousand thirteen menu we can go in and change things and you know as we're going through and we'll talk about projections and working on your your projections and pricing and making annual adjustments, and sometimes it needs to be more than annual when your first raising prices and kind of getting into your groove, you'll realize what products are working. You'll realize you know what? What pricing is working and you'll be able to make those adjustments so that's what's great about just seasonally dating your menu, and we're presenting them as we go through with the idea of home decor. So I wantto be showing them all through the menu that we are going to be designing for their home a little bit about the studio, and then we go into our session offerings, these air, the regular session offerings that we have available in the studio, and then we go into our video session offering, which is something that's pretty new for us for families. We've been doing this for a while for our high school seniors, but we're currently offering it's my life story sessions for it's, a twenty five hundred dollars entry there that's what they're paying for the session fee. We're including video, they get that video product with it and included with their session, they're going to get a thousand dollars, an album credit or image box credit and then a thousand dollars in a wall portrait credit, so they're actually in the end a saving money if they go ahead and purchase this in the first place that's something that I can explain to our clients that if you're if you go with this new session and if you go with the video session, you're actually going to get a thousand dollars credit towards your album or in an image box and a thousand dollars towards your wall portrait while partner groupings that we're going to dio and so in the end, if you if you even it out that plus a session, feet, plus the video, they're saving a little bit of money and so that's a way to kind of explain that through that new product that we're offering, and then we go into talking about designing for the home and just a little few list little list of ideas for different rooms in the home to hang their portrait hanging. Their portrait is something I'm gonna be talking to them about from the very first phone call, and we'll go through the first phone call together in a couple segments from now. But right from the very first phone call I'm gonna ask them have you thought about where you're gonna hang your portrait so I'm gonna ask himto walk through their home and take snapshots for me of any walls where they would consider hanging them and when they do that I'm going to be asking them tio play something on the wall that's measurable? We do have a design tool and that's what is on the next page of the product menu? If I don't have time to mail them out this sheet, I don't mail about the whole product a menu I mailed this piece of paper with a wall clean ruler on it, and I actually have one of those here in the studio. I don't bring it over here, maybe somebody could bring it to me, but that walk clean ruler, we will mail in the mail on this piece of paper and it's just a fun little design tool and allows them to place it on their wall, remove it, go place it on another while if they don't have this, I'll just ask him to take a piece of paper to the wall and same difference. I just need something measurable, thank you that I can take into previous software and measure and, well, actually kind of show you this in action later, but I can't take this and I could put it on any wall my client committed on their wall and that's upside down I'm cool on then they could take their their snapshot with their phone and just text it over to me and then rip it right off and go put on another while these things are wall clings just like these big wall clings on the wall I get him from a c I lay him up a couple on a sheet chopping mint in the studio I always have one with me even even second on my laptop so I could just you know I could take it I've got it with me wherever I go and a lot of times you know, even even in the hotel I can just take this off my laptop and stick it on a wall and take a snapshot so I've got a room for you you know and so that's something fun you can throw those in preview and just play with wall groupings and moving things around being able to show people what they can do so I'm asking our clients to do that either with the wall cling or just a piece of paper taped to the wall and then I can then take that into previous software measure the ruler or the piece of paper and had the exact dimensions of their wall to be able to design on so that's all explained here and the product menu and so, as you see, as we go through this it's not just pricing, right it's education, we're walking them through the process, even through the product menu itself, and this page goes on to talk about if we're going to design for one room, what they're going to get a foreign designed for two rooms, what they're going to get three rooms and so on, and that if they go ahead and design for four rooms in the home, which honestly, doesn't happen a lot for me, but I want to show always like this concept of somebody does this, you know? And so I'm showing them for if he designed for four walls in the house, they're going to get four more clothing changes they're going to for more background or locations, they're going to get a free gift prince of every single pose that they order, they can have anything they want up to eight by ten a free five by seven image box, including their entire image set, and then thirty percent off of any additional gift prince and tabletop frames. And the reason that I've got it all explained out like that is we're putting a lot of value in there, and they're things that don't cost me a lot, they're not ah, high cost of sale margin for me. So I can throw those in when somebody's purchased what I want them to purchase if they're purchasing for for for rooms and I can throw in those extra things and so it's just walking them through the process I do have an ala carte list here that does have lots of sizes in it and I really just don't want them to do well here and want them to see this list and this is how most people view a price list is I got to get out of here and that's kind of what that page is meant to dio you know, we want them to move on to the next page um I do tell my clients you're going to see a multitude of sizes listed, but everything we do for you is going to be custom that's just to give you a range and so the next page takes them into campus groupings and a little ala carte list there, and then one of our products that we sell is a nine up designer collection nine up expressions clash it collection is what we call it and we have had this on our menu for a long, long time probably thirteen years and I used to do it, you know, with the individual matted prints and now course we do it digital, but we have taken something's off of our menu that were multiple image pieces one of those was a twenty by twenty four designer collection that I used to do a lot for our families it was multiple images like a collage but I sold them a lot and then I realized I was cannibalizing my wall portrait sales and so we've completely got rid of him on the menu but the expressions collection is something different that they're not going to do instead of the wall grouping and so we still offer that and then we offer it in two different ways they could do it all frame together or they could do it frame separately and so you know, that's a fun little thing that we added just a few years ago when someone actually asked me well, I love those nine faces I really want it bigger what you know what can we do that can make it bigger? And so we added this product and now because we show what we sell it and you know that's one thing that the product menu will do for you instead of having this list of numbers you know you're actually showing your client what's available to them, you know, helping them to see what we could do in their own home and so that's that expressions collection were just mentioning traditional framing for mentioning handpainted framing albums image boxes uh gift frames, desk frames that we want them to think about and on the lines of gift frame I want them to know that we'll package there there portrait's for them so that they can give them is gifts we'll have think everything ready for them to walk out the door and so I'm reminding of them some of that in the menu and then we're talking about those press print items that I told you guys I want everybody to have I want everybody to add on some sort of press print item whether it's just a note card or a thank you card or you know holiday cards we we don't only do christmas cards now we're suggesting thanksgiving cards and new year's cards and valentine's cards and that allows me to spread out that design time a little bit but it also you know, it's just giving our client suggestions for not getting bogged down over the holiday holidays. Now you can get it out of the way at thanksgiving and let people know you know we're so thankful for you at this thanksgiving we wanted to let you know before the rush of the holiday season and are thankful cards actually say something pretty close to that you know and our clients like that we've been able to move people into that thanksgiving category instead of the you know, a million people and christmas do you know when we're all like yeah, I'm making everybody else chris is everybody else's christmas merry and what about mine and so uh those were giving them lots of ideas for those press print products and then the photo jewelry from katori that we love amy are you wearing yours today? Maybe the camera can get a shot of that I don't have mine on today um that's one in real life that we live and but katori has amazing yeah I love that one hitori has amazing amazing photo jewelry and great quality for our clients and so that's just a really fun at on at the end we don't ever want to concentrate on these things but I do want them to have those little exciting pieces that it's like I've gotta have that I've gotta have that for grandma and you know they're just fun little add ons at the end either some boutique items just some you know, little extras that again they're just add ons at the end we've done all the hard work okay? I have planning for the wall and for the home and then it's just becomes you know, fun stuff the add ons weaken dio reminding them of wall decor again at the end of the menu this is our digital collections so you know showing again with they buy a digital collection from us they're going to get the entire proof set that they purchased they can buy ten images or thirty images those were the only two options that I have for digital collections unless I give somebody some for free, sometimes I do that if they purchase, you know what I want them to buy? I'll throw in those digital files if they've already ordered them, that means I've already done the work on them. And so it's a it's a no cost item for me to throw in that has a very, very high value to the client. And so especially when I've got him price the way that I d'oh, you know, if I'm telling them the only way you can purchase them is ten for two thousand dollars or thirty for three thousand dollars, they become very, very valuable. And so when I'm offering them to them for free when they do a wall grouping, then you know that's a really cool easy add on for me that doesn't cost me anything. And remember, if they haven't already purchased it, it is costing you because you are spending the time retouching and getting that those images ready for the client. So that is, you know, that's that cost the sale, but now I've built my cost of sail into the wall portrait I can give that second one of away free, I believe the same thing with gift prince if someone has ordered a walled quarter from you. Give them their stupid eight by ten who cares? You know and I do have clients that will ask me when they see the product many oh you mean an eight by tens one hundred fifty dollars now we've got three sisters I need to buy for the ants and you know, to grandma's and no and I just tell them you know what? When you purchase your wall portrait I'm gonna throw those gift prince in for free and you know that completely takes the focus off of that one hundred fifty dollars, eight by ten and we're back to focusing on what I want them to focus on and that's for the wall and then the end so you know we on ly pdf this to our clients I don't have any of this printed anywhere I send them a pdf after the first phone call and I'll talk to you about when that's appropriate when we talk about the first phone call um other than that they I have it on an ipad in the studio that they can flip through and those are the two ways to view my menu so are strongly strongly believe in verbal communication when it comes to pricing and explaining and walking that client through but I do want them to have a pdf of this but you know if you got this pdf in your email box and you open it up do you have any doubt about what this is all about? You know, this is not a list of words and numbers, this is telling you what this is all about, you know, going through the process without actually having to have a whole bunch of words in here, but they're, you know, they're seeing ideas for the wall, and we're walking them through. We're talking about traditional framing, handpainted framing and showing them those options. So I believe that the product menu is a very, very valuable tool for our studios and definitely definitely would encourage you if it's time to raise prices, then it's a beautiful way to present your clients there, the pricing differently, and if you present it differently, they can't compare. And so, you know, it's, a it's, a great way to be able to move into that act next category, right packages or the next method and a couple of tools there, and when we're talking about packages, you always want a price, your packages from the highest to the lowest, and the psychology there is that if they see a big price, they think somebody buys that, and then when they start moving down into the lower categories, it gets a little bit easier to breathe, and so you know, they can settle in there. Your lowest package? You always want to be just a lead into your business. No one should ever want to buy your lowest package. It should have not much value there. And so you want to be able to say two people are packages started x amount, but then you want to get them in front of you so that you can lead them through your menu and and put them where the value is and that's the same thing whether it's, you know, weddings or studio, you know, however, you're building your pack ages, you want your lowest one to be nobody wants it. All it is is getting somebody in front of you and the highest one. You really don't expect anybody to buy either that's something that just sets that value point that wow, somebody somebody buys this size or somebody buys this, you know, spends this much money and okay, now this smells better. All right? So, um, always in your packages, you never want to throw in anything that, you know, people have tohave, so no must have item should go into your packages. And that means, for instance, for seniors do not pull wallets in your package for I'm regular portrait clients, I wouldn't put any digital files and your packages unless you're putting them in a higher package teo you know, to get them to buy in that higher package, so use your must have items in ways that teo incentivize your client and then you always want to leave your package is open for add ons and so never leave it close and one way that you could do that is on, say your cheapest package, you're offering you ten percent off of any additional items the next one, you're gonna offer fifteen percent off the next one, going for twenty percent off and lead them through so that the end it makes it easy for them to add on and they're not just done with your with your package, you want to always always build your packages so that you're rewarding your clients for where you want them to spend, so we're gonna build the most value if I know that my session average needs to be six hundred dollars, then I'm gonna build that package close to six hundred dollars, that has the most value, so I can, you know, point my client right there. And then of course we're going to encourage those add ons as well at the end, so I'm going to show you my package pricing this is some of you guys already seen my real kids pricing package pricing and those air higher in packages, these air special events quickie many sessions that are very inexpensive these packages actually start at one hundred and sixty eight dollars, and so it makes it super easy for me to be able to say to somebody on the phone when we're doing a quickie, I'm going to show you our vintage valentine sessions, and it makes it very easy for me to sell these even locally because I can tell people are packing just started just one hundred sixty eight dollars, and when they come in, they're not going to buy that hundred sixty dollars package because they only get to poses with it and they always want more than to poses and there's not a lot available there. I want our package pricing always be very different than our studio pricing, so I'm actually showing them units, which I don't like that word that's kind of a school picture package word, but that's, how I want them to think about these sessions, I don't want them to compare them at all to our regular studio sessions, so they're seeing what's involved in the unit either an eight by ten to five by sevens for four by five or six lots while it's coming eights, but I always sell them in six because I want the extra two for either packaging or for a sample, and so that's why we do it that way, the client doesn't know the difference so our packaging, as you can see here, it starts at one hundred sixty eight dollars and they get to poses with that and as they move up in the top packages package has unlimited poses, and we do sell this package sometimes because they get a lot with it. They're getting twenty digital files or getting a lot of things that they want and get excited about so we can lead them there but are most loved package. If this wasn't valentine's, I'd call it the biggest the best value, but are most love packages that twelve hundred dollar package, they get ten poses, they do get the digital files and, you know, a lot of value in that package, so we're leading them right through and when presenting the packages, we've got him in the door by saying our packages started a hundred sixty eight dollars, but we always want to start with that top package when we're leading them through it. And, you know, our top package is eighteen hundred dollars, and it includes this, walk them through it and then move them down through the menu. If you're on location with your special events, I would always always take everything that's included in your top packages, a sample, and if you can't take it all, photograph it all. Lee so they can see everything that's included in that top package because that's going to infant advise them that yeah, I gotta have all that stuff I want all that stuff there really is a lot of value there and so and then this leaves them through some of the just the ala carte and menu we want to give them a value on these pieces that are going into the packages yes, they can purchase from the ala carte menu, but when they see that the value that they get in the packages they're never going to go here this is just to establish the value of the different products and then add ons we want them to think about all the different things that they can add on and these air added onto any package and they're going to be cheaper as an add on to a package than they would be on the ala carte menu. Guess what you guys are getting for a bonus today? Um and then we've got storyboards which these storyboards we sell a lot for our many events and our, you know, all the special events because it they do tell a story you know and that's kind of what the many events do it's a theme and so there's a little story going on and one of the things that I can do with these these are these items whether it's a death strip or one of our larger wall storyboards they're priced very well for me they're very profitable for the studio and so there's something that I can discount heavily especially if somebody purchases one I can offer them a second for a grand parent or a dad's office at half price and again I've priced the profit into the first piece the work's already done push go one more time and rose and we've got a second piece and still it's profitable for the studio and but you know it's a great value in a discount for the client and it's an easy ad on you know would you like a second one of the same thing for grandma for dad's office you know suggests in places where they could move it to if your clients have second homes would be great for you do you want to do this for the beach house or you know whatever but add on that second one and it's just too easy no brainer oh half officer you know and then um and then we're talking again about those press print pieces that we want them to buy and we do create something unique for every single special event that we do valentine's is easy of course we can add on those valentine's cards very easily and I could put these into our packages and do that and you know that would be certainly appropriate, but at valentine's, I kind of know that people are going to add those on and so it's an easy at on that we want to show separately, so hopefully that all makes sense rushing through that and then and you are going to get this whole menu are special event pricing menu as your download bonus today. So I'm excited about offering that and then the last one is a build your own menu and this menu we do for our high school seniors, and it has worked really, really well for us for high school seniors, and I really highly recommend a build your own collection for anybody who's ready to start, you know, being with her clients in person and it's brand new to you if you've been putting all your image is online and it's time to start sitting with your client it's a great way to be able to teach yourself to lead them through the process because you've got the steps in place I've got step one, step two, step three and you can do you know when when carly and I worked on her pricing together, she's just got two steps and step two is even optional, right? Yeah, we made it super simple for her to be able to take this new concept to her clients by just explaining that, you know, there's just two steps here, second steps optional and when they do even the first step she's throwing individual files because that's what they're used to but it's going to get her to that average that you're going to see when we do her projections tomorrow, but it's going to get her to that averages by that simple build a collection menu. So this one's a little more complex, but it'll give you the idea of working through the builder collection, presenting the sessions again, we've got to session offerings one with me, one with a my second photographer, and then with one with both of us that includes video, and that has been something that just by putting it out there, you guys, you you never know what's going to happen. We shot video for a high school seniors for several years, and then there came that time, or we were just really mad when somebody went in by the video because we have spent so much time on it. And so we put this twenty five hundred dollars session on our menu, thinking no one's really gonna buy this, you know? But it's that it's that product that nobody else is doing right now and we call it the rock star session and we want them to feel like that we're shooting video and we're taking images we're putting it all together in this rock star video for them and yeah and they're doing it almost every one of our high school seniors for the past two years have done this twenty five hundred our session and what that means for me they are getting album credit they are getting wall porter credit but what it means for the studio is I know going into the session that I have twenty five hundred dollars out of this client and of course they're you know they're buying other things and so are our senior session averages just by throwing this option out there have really skyrocketed in the last two years just by offering this and as carly knows there's a people in our town doing high school sessions for twenty five dollars and for you know even an expensive fifty dollars and giving them all of their files and so by presenting this you know something that's completely different something that is like are you freaking kidding me you know but it's because it's so different and people don't see anything like this or like wow I gotta have that you know you're going to find that little segment of the market place that has to have the best so and I'm not calling myself the best photographer I'm just saying that's the highest price and it's that proceed value you know? So then as we go through here again that these are just a analogue carte menu that we're going to present them with first it's very simple we just want to move them through the menu campus collections and then here is thie the build the collection step by step process and this is kind of where the magic is as we work through this step one is going to be hanging up we still even with little seniors we want to concentrate on the wall first and so step one is for the wall step two is set it out that's going to be any other smaller pieces grandma dad's office living room out takes whatever um step three hanger mix it up that's any of our multiple image pieces and then step for is make the cover and that's where they're going to choose their album. We've got three levels of albums those air here and so they can see those three different options we do show them I've got all three options on my coffee table when a senior comes in for their order appointment so they can see those and we lead them there now when you're building a build your own collection menu, the things and the keys to make sure that you're sticking with our that if they buy the least amount that they can buy the smallest product that they can buy on each one of your steps, you're going to get to your desired average and so that's the way you know, you always want to figure that out for me. If they go through each one of these steps at the bare minimum plus add on the bare minimum wallet collection, then I'm going to get to my my desired average and our wallet collections what's interesting. And, you know, one of the things that I've learned and I'm telling you guys, is that a lot of times it's just suggesting making those suggestions to the client and when we plant those seeds and tell them this is the way this goes, this is the way this coz, you know, and back in our wallet collections, I'm gonna flip back. Um, are we have? Ah, three pose a four poster, five thousand and eight post collection, and what happens is, you know, a lot of times mom will say, well, how many wallet should be get or the girls will ask, how many? Well should we get in? I photographed mostly girls, mostly high school senior girls, but what I'll tell them is, you know, most most boys get our four post collection most girls get our five or eight post collection and then you're gonna want mawr after you know when it comes time to order your graduation announcements and those kinds of things so I'm actually telling them that that's not even enough and so when I do that I've been telling them the boys get the four post package I've never had a girl or to the fore post pack because I told them that that's what the boys order right? And so you know, I'm telling them our girls are order the five poser a pose and you're going to want more and so if a girl feels like she's kind of popular and I've told her the girls do five poser a pose she's going to go well, I gotta have a pose because I've told her this is what everybody does, you know and you can use that tool anywhere that doesn't sound like ah hard core sale I'm not, you know, forcing them into anything I'm just telling him this is usual this is what happens is what people do and so they do it, you know, so that's that build a collection one of the things that also with the builder collection I if I take out one of these steps of somebody says the most thing that people say to me if they say it is I might not need that multiple image piece and I will tell them I don't even have to sit and figure it out with them. I just have to tell them, you know what? If we take that piece out and do this without your discount cause if they go through all four steps, they're going to get twenty percent off, and I tell them, if we take this out and figure this up without your discount, you're probably gonna get free, and so then they go, okay, well, then they go back through the and yes, well, adam, multiple image piece and so, you know, it makes sense as they as I walked them through this, and if they go through four steps, they get twenty percent off. And so that is also a tool to use with the clients that I can tell them when they ask, do you have packages? My answer is, you know, we don't have any pre built packages for you that you have to buy. Instead, I'm gonna walk you through building your own collection so that you still get the value of a package. But you get exactly what you want and that's what they love moms love hearing that, you know, I get choices. But I get the value and so that makes perfect sense we're showing them all the ideas for their parties in the menu I don't want them to buy at their senior ordering session I want them to just be aware of what we have to offer because I'm going to be calling them in january and february and talking about their parties I'm gonna call you january february and we're going to start planning your party together and I will tell them in those words that we're going to do this together because I'm gonna be making more suggestions to them in january february and it's great because we're making more money in those months when normally we don't make a cz much because we're selling from what's already been sold and so I lived that s o that's all the things that they can do for their parties we've got an extra menu that's just all the fun stuff that they can add on and then a bonus schedule and I'm not going to sit here with you but this walks them through a different levels of spending and different things that they can purchase at each level of spending and get a greater discount on as they moved through the bonus schedule all right, so those air three different kinds of menus and you know when you're doing this you always want to sit and you know, maybe in the beginning even twice a year what's working what's not working and you know really think through making those adjustments making things work for your business and your clients help but annual adjustments or something that, um you know that I always do I always sit down and say what product lines are working for me, what I need to get rid of what I would need to add what are people excited about and so, um that way that's why we price it or label it seasonally and not you know, in any other way so let's talk about presenting your pricing and again I'm encouraging you, teo build a menu it does make things different in the presentation to the client they can't compare it to another studio's price list if it looks different and these kind of menus looked completely different than they're going to get from anybody else and so, you know, it's not apples for apples and when it's time to raise your prices, you're gonna want to start thinking about how do I tell my clients? How am I gonna let my clients know that my prices have gone up and then I'm doing things differently and the first thing is just do something different a menu is a super way super easy way to present your prices in a different way if it's different it's new, you know it can be exciting so another couple things are to put friends and family days on the calendar and that's something that everybody gets bogged down and you know, I know I need to raise my prices but what about all these people that I love and I wanted to have great pictures and what about my family what I do with them you know? And so I would encourage you to put a couple friends of family days on the calendar could be once a month it could be quarterly twice a year whatever needs to be when we worked with carly, we decided on two days on her calendar she's ready to narrow this stuff down and you know, say if you want this discount if you want prices like you're used to seeing you got to come on this day and so and that's what the friends and family day does for you is it allows you to those people who are going to freak out because he raise your prices. Now what I completely understand I've got this day so the side on the calendar for friends and family I'd be happy to schedule schedule you on this day and that allows you to still take care of those people without messing up what you need thio average on every session and then I'm special events kind of on that same idea if somebody is not a perfect fit for your new pricing, plug him into a special event and make sure that your scheduling those regularly on your calendar when you're when you're starting to transition, so that you do have a place to put people who are not the right fit for what you're doing now and stick to your guns, you guys. Another thing is to start offering custom prince offer everything mounted, textured, presented differently and then a separate gift print price list. So if you raise your prices, you can have a new custom print pricing list that is going to have those new prices on it and that have give prince available closer to your older pricing that are all those gift prints could be available for any pose it's already been ordered. We're going to put our profit margin into those custom prints that they order first, and then the gift, prince said. They can add on, you can give them away if you want or you can give him super cheap like you have been doing, you know, when they've already purchased that first print from you that's a great way to lead people through that. I'm going to show you how you couldn't get those smaller prints at the same price is you used to get, and then you can lead them through that new menu, um, talk about products versus prices we've talked about that present something new. Oh, and I just want to show you a little example here quick that when you do raise your prices you don't it really I mean, don't worry about losing people and in this model you can afford to lose thirty percent of your clients and still make the same amount of money if you got one hundred clients that you're photographing at a thousand dollars average that's going to give you one hundred thousand dollars in gross revenue if you raise your average two, fifteen hundred dollars and we're gonna you know, talk through this, but if you raise your average two, fifteen hundred dollars, you only need to photograph sixty seven clients to get that same amount of revenue in fact it's five hundred dollars more and then if you go ahead and keep photographing the same amount of clients, if you can stick with one hundred at the same level, then you're going to raise your revenue by fifty thousand dollars and so, you know, think about that as you're thinking through and when we walk through tomorrow's projections together, you know, just think about the difference that you can make just by raising your average just by presenting products instead of a price list for presenting something new instead of handing your client's digital files or a dvd or thumb drive, handing them something beautiful that they can enjoy every single day and so um hopefully, that's been exciting. Teo, think through and your download for today is the special event package pricing. We're going to get all those in layered template files that you can drop your own images into change colors, obtained whatever you want, and but it's all there for you, the pricing, therefore, use you. Don't have to second guess it and that's for you today.

Class Materials

bonus material with purchase

Day 30
Day 28 Press
Day 29
Day 8 Mommy and
Day 23 Contact Sheet.pdf
CL_LORI30 Desktop Screen Saver 1.jpg
CL_LORI30 Desktop Screen Saver 2.jpg
CL_LORI30 Desktop Screen Saver 3.jpg
CL_LORI30 Desktop Screen Saver 4.jpg
Day 3 Weekly Calendar.pdf
Day 3 Monthly Calendar 2014.pdf
Day 4 Thank You Back.jpg
Day 4 Thank You Back.psd
Day 4 Thank You Front.jpg
Day 4 Thank You Front.psd
Design Gift
Day 7 Blog
Day 7 PlayDate
Day 8 Gift
Day 8 Mini Accordian Book
Day 8 Promcard Digital and or
Day 8 Timeline
Day 9 Gift
Day 9 Vendor
Day 10 Accordian
Day 11 Event
Day 12 8X8 Econo Layout
Day 13 Grateful Worksheet.pdf
Day 14 Call Log Worksheet.pdf
Day 14 Phone Scripts.pdf
Day 15 Welcome
Day 16 Square
Day 17 Certificate of
Day 18 Consultation Phone Scripts.pdf
Day 18 Consultation Planner.pdf
Day 19 Wall Cling
Day 20 Image
Day 21
Day 22 Designer
Day 23 Holiday
Day 24 Workflow
Day 25 Record of Sales Workbook.pdf
Day 26 View and Choose Appointment
Day 27 DVD and DVD

bonus material

Course Outline.pdf
CL_LORI30 Model Release.jpg
CL_LORI30 Model Release.psd
Day 2 Workbook Sample.pdf

Ratings and Reviews


This course is amazing! Lori covers so many essential things to have a successful photography business. She goes through everything in a very methodical way. I also appreciate ALL the free stuff she gave to help make my business successful. I also love how she shared how she gives back in her community and worldwide. Thanks Lori!

a Creativelive Student

I cannot say enough GREAT things about this course!!! I've been in business for over 10 years now, but still need to check in on the business side of things periodically. This class reminds us just how much fun marketing, sales, and planning can be. It has rejuvenated my passion for the BUSINESS side of this business. In fact, I'm so inspired by what Lori has to say, I think I will recommend this class to my COMPETITORS down the street. We will all be better for it and the industry will be better too! This is perfect for those just starting out AND seasoned pros :)

a Creativelive Student

I have loved so many creativeLIVE courses but I have to say this has been THE BEST for me. Lori thank you so much for sharing your wealth of knowledge! I am feeling more confident and excited about moving forward and making my photography a real business finally. I have been crippled by insecurity and fear and with this course I feel like I have finally been given the ok and the KNOWLEDGE to do what I need to do. Thank you!

Student Work