Fine Art Prints Pricing Strategy Example
Lesson 31 from: Creating Your Ideal Photography BusinessKathy Holcombe
Fine Art Prints Pricing Strategy Example
Lesson 31 from: Creating Your Ideal Photography BusinessKathy Holcombe
Lesson Info
31. Fine Art Prints Pricing Strategy Example
Lessons
Class Introduction
07:01 2How To Price Your Products
05:01 3Which Products Will You Offer
13:14 4Methods For Pricing
10:38 5Mark Up Factors On Products
05:46 6What Is Your Per Hour Figure
04:45 7What Is The Feasibility Of A Product
11:28 8Target Sales Average
08:04Session Fees Pricing Strategy
09:48 10Minimum Purchase And Incentives Pricing Strategy
05:53 11Bundling Pricing Strategy
25:47 12Pre-Design Pricing Strategy
10:33 13Album Pricing Strategies
10:33 14Example Pricing List
17:33 15Business Basics Overview
07:07 16Tracking Product Lines In Your Business
14:01 17Track Your Session Counts
07:19 18Know Your Sales Average
06:41 19Importance Of Data Analysis
10:14 20Overview Of Costs
13:46 21Professional Photographers Of America Benchmark Survey
18:57 22Creating A Vision For Your Business
08:25 23What Do You Want To Accomplish
13:31 24Take A Leap Of Faith
20:19 25Refine Your Vision
12:44 26Products That Sell
07:48 27Identify Pricing Strategies
03:03 28Portrait Pricing Strategy Example
15:57 29Album Pricing Strategy Example
09:21 30Online Pricing Strategy Example
08:21 31Fine Art Prints Pricing Strategy Example
05:54 32Packages Pricing Strategy Example
12:39 33Sales Strategies Overview
05:45 34Portrait Sales Session Overview
05:34 35Sales Strategy for Portrait Sales
22:56 36How to Present Images to Client
23:03 37Sales Strategy for Wedding Sales
09:49 38Album Pre-Design
18:51 39Marketing: Define Yourself
12:55 40Who is Your Ideal Client?
05:12 41Who is Your Ideal Partner?
03:27 42How to Start a Partner Business Relationship
08:29 43Marketing Strategies that Work
17:10 44Product Lines: Business Plan Part One
09:07 45Workload: Business Plan Part Two
08:23 46Sessions: Business Plan Part Three
16:06 47Expenses: Business Plan Part Four
11:14 48Clients: Business Plan Part Five
05:29Lesson Info
Fine Art Prints Pricing Strategy Example
Now let's check out this one. Okay, 2016 pricing guide. High end, low end, what do you think? Are we looking at the really elegant restaurant or the diner? I'm thinking elegant restaurant here. Okay and it walks us through again, I love this one, step one, step two, step three. Only three steps, easy to understand. I know that this photographer's going to take care of me and walk me through this and make it easy. That's one of our filters, right? Okay, so here's what it says. Create your own collection pricing structure. What does that say? That says, I'm not gonna tell you exactly what you need, I'm gonna give you the freedom to choose. Some buyers really, really like that. So, our create your own collection pricing structure gives you the flexibility to design a portrait collection that best suits your needs. That says, I care about you and what you want and what you need. Firstly, select your digital file package. So this photographer's goal is to sell the digital files. It's not ne...
cessarily a bad goal. Let's look and see how they have it set up. Secondly, choose from a range of fine art products. And lastly, select any extras. Okay, so those are the three steps I have to go through as a buyer. So I have two choices to make, right off the bat. I can choose 10 digital images or I can choose the entire session. We're talking about $500 for 10 images, $800 for the entire gallery of 25 photographs. It's clear, so I know when I go into that session, that I can expect 25 great images from that session. They're laying it out very clearly for the client to understand. $500 to $800, it's not a huge jump. It's almost double, but not quite. So if all 25 images are extraordinary, I can see clients jumping from that $500 to that $800 pretty easily. If they have to give up 15 images for $300, if the images are great the client won't do that, they'll go ahead and go with this entire package. Step two, select your fine art portrait. So I think what's nice about this is this photographer is saying, yeah, I'm gonna give you the files, but you also really need to have something beautiful for your wall. So let's talk about that too and not forget this part. So, then we have sizes. We have a reasonable amount of sizes here. It starts at a 30X40, so they started big and they're working their way down. The prices, let's look at it. $400, $300, $240, $180, $150, $100. It's simple, they're round numbers. I would say that if you could make them even bumps between them so if you did $400 to $350 to $300. Make them just round, happy math. Everybody actually likes happy math, not just us. And so I really like how the sizes descend. The prices are good, round numbers. I think it's a really well laid out price list. And then you have prints and you have canvases. And so, again, I think you could eliminate this entire column by just saying, if you'd like a canvas, it's an additional $100. From $400 to $630, so maybe it's $200 to upgrade to a canvas. Clients like canvas, they're willing to pay for that. Okay, and then over here, we have the signature album. Now to me, this looks like, kind of an afterthought, a little bit. So I don't know if that's intentional, to put the albums off here, if it's not a focal product. But it's a little bit different than these other products. So one way that you could lay it out a little bit differently is to say, wall art, book art. And then you have two different pathways. Because in general, clients either really like wall art or they really don't like wall art. And if they really don't like wall art, they'll probably purchase an album. Some clients feel pretentious putting a big picture of themselves on their walls. Those typically aren't photographer's clients, but some people really do prefer to have something a little more discreet, off to the side. It doesn't mean they don't value photography, it just means that they don't wanna have it huge on their wall. So, by kind of splitting step two and saying here's the wall option and here's the book option, you could bring this in more. If this really is something that the photographer's not really into creating, pull it off the list, don't even offer it. Either bring it in all the way or take it out all the way, but kind of hanging here on the side is a little bit confusing to me. And then it says, I love how they just chose one album though. It's our signature album. It's 10X10, it's custom designed, and it includes 20 pages. Boom, that's what it is. So, and then it says 10 double page spreads because sometimes there's confusion between pages and spreads when we're talking about books. Then, the last option is select your additional items. So do you need mounted desk prints, do you need baby announcements, holiday cards, or thank you cards? So there's that thing, oh by the way, did you know we did this too? It's a beautifully laid out price list. It's very well executed.
Class Materials
Bonus Materials
Bonus Materials with Purchase
Ratings and Reviews
Lindsay
I started my business a year ago with little formal technical photography education. It's hard to admit but I've been winging it, figuring out each small task that goes with photographing a session, editing one, and working with clients as I go. I may be doing things backwards, but now that I feel like I'm more comfortable in those small, specific parts of business, I need to figure out how to make this business sustainable and profitable. Kathy's class felt perfect for this time in my business to take a step back and look at the bigger picture of what I want to focus on and where I want to go (and how much I want to pay myself!). She uses realistic, specific numbers: something that's SO helpful and I feel like I rarely see in the photography community. And she breaks everything down in an organized and easy to understand way. The classes were easy to follow along with and Kathy's positivity and patient manner is inspiring and motivating. The fact that she used to be a school teacher is clear. Thank you so much Kathy (and the rest of the Holcombes)!
Jenny Farrell
I am so glad I was able to attend this course in person and receive all the wonderful and practical information Kathy shared with us. I also really enjoyed the connections with other audience members and side conversations with Creative Live peeps as well as the Holcombe family. What an inspiration this family is--lots of practical info, but also a great pep talk to not sell yourself short and get out there and do what you love, but use sound business practice while doing it. Thanks so much for these incredible two days.
Vanessa
Fantastic course! Very helpful instruction and how-to guide for anyone considering starting up a photography business. Kathy was an excellent instructor, with a wealth of knowledge and experience. I gained a good understanding of the practical everyday aspects of running this kind of business, and how to create my own vision.