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Package Pricing Psychology & Design

Lesson 35 from: How to Start a Photography Business

Pye Jirsa

Package Pricing Psychology & Design

Lesson 35 from: How to Start a Photography Business

Pye Jirsa

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Lesson Info

35. Package Pricing Psychology & Design

Setting a "price anchor" helps your mid-way price point feel less expensive. Learn similar pricing psychology tips in this lesson, along with all how to name and develop your package prices.

Lessons

Class Trailer
1

Class Introduction

13:12
2

Common Myths & Unknown Truths

11:42
3

The Road Ahead

13:03
4

Find Your Passion

06:06
5

The Lin & Jirsa Journey

13:54
6

Part-time, Full-time, Employed, Partners?

03:51
7

Stop Wasting Time & Money

06:07
8

Your 12 Week Roadmap

04:33
9

Great Plans Still Fail

06:01
10

Strategy Vs. Planning

04:16
11

Mind Mapping

07:25
12

Select a Focus

14:16
13

Competitor Research

09:34
14

S.W.O.T. Analysis

13:54
15

Strategy & Long Term Goals

03:50
16

Values, Vision & Mission

27:49
17

Effectively Managing Your Time

15:05
18

Artistic Development

07:30
19

Create Your Plan

13:12
20

What's Your Product

10:51
21

Luxury vs Consumer Products & Experiences

11:44
22

Quick Break for Econ 101

16:31
23

Your Target Market & Brand Message

21:25
24

What's in a Name

09:20
25

Your Client 'Why'

05:43
26

Crafting the Why Experience

24:17
27

Document the Client Experience

08:29
28

Business Administration Basics

27:03
29

Book Keeping Management

06:51
30

Create the Logo & Branding

07:04
31

Portfolio Design

15:11
32

Design Your Services & Packages

18:51
33

Pricing Fears & Myths

08:46
34

Three Pricing Methods

25:39
35

Package Pricing Psychology & Design

06:15
36

Psychology of Numbers

07:29
37

Pricing Q&A

23:51
38

Grass Roots Marketing

09:36
39

The Empty Party

07:03
40

Friends & Family Test Shoots

16:28
41

Join Groups

04:32
42

Second Shooting Etiquette

07:44
43

The Listing & Classified Hustle

14:10
44

Make Instagram Simple

13:55
45

Your Automated Pinterest Plan

08:01
46

Facebook Because You Must

07:37
47

Giveaway & Styled Shoots

12:17
48

Content Marketing & SEO

08:12
49

The Monster: SEO

07:26
50

Selecting Your Keywords

05:45
51

Testing Your Keywords

07:53
52

Grouping Main & Niche Goals

12:39
53

Your Content Road Map

11:47
54

Content Marketing Q&A

10:45
55

Inspiration to Keep Working

07:45
56

How to Craft Your Content

15:03
57

Internal Linking Basics

05:30
58

Back Link Building Basics

04:55
59

Link Value Factos

14:38
60

Measuring Link Value

04:24
61

Link Building Strategy & Plan

06:10
62

Link Building Plan: Vendors & Guest Writing

06:45
63

Link Building Plan: Features, Directories, Comments

03:11
64

Link Building: Shortcuts & One Simple Tool

14:44
65

What is Sales? Show Me!

12:58
66

Your First Massive Failure

05:17
67

The Sales Process

07:31
68

Your Second Massive Failure

05:23
69

Understand Buyer Psychology

10:00
70

Step 0: Building Rapport & Trust

15:14
71

Step 1: Identify Need or Want

15:39
72

Cognitive Dissonance

12:01
73

Steps 2 & 3: Value Proposition & The Solution

14:21
74

Step 4 : Close, Make the Ask

04:32
75

Step 5: Follow Up & Resolve Concerns

06:13
76

Family Photography Hot Seat

12:06
77

Business Example Hot Seat

15:52
78

Boudoir Photography Hot Seat

16:09
79

The Best Sales Person

07:45
80

Your Mindset, Vibrations & Frequency

06:56
81

Always Positive, Always Affirming

11:55
82

The Second Money & Dual Process

07:39
83

Chumming the Price Waters

03:57
84

Creating Want or Scarcity

09:54
85

Timeless Advice on Being Likable

11:53
86

Selling Over The Phone

10:59
87

Forbidden Words in Sales

11:40

Lesson Info

Package Pricing Psychology & Design

Package pricing, psychology, and design. Okay, this is beautiful. Let me look over here. Our minimum product that we love, the one that we want to sell the most, the price anchor. What does that mean? That means the best way to sell a thousand dollar purse is to put it next to a $10,000 watch. You reset somebody's mentality on a price. Like if I just placed a thousand dollar watch on the table, you'd say that's expensive. But if I put a $10,000 purse on the table and then you saw a thousand dollar watch, all of a sudden, like this relative price point sets a different tone in your mind of like, "Oh, yeah, a thousand bucks isn't that bad." What? A thousand bucks is a lot of money for a watch! But it's the price anchor that brings the perception in and reels them into going with the value option, which is your number two. Okay? This is in a sample package and I want to give you ideas of poor naming structures for those packages. "Bronze." A lot of people do this. It's in red because does...

anybody want to come in bronze? (audience laughing) Nobody wants to be a bronze, so give your base package a good name. Like, gold is better than bronze. Yeah, I'd like gold. Gold is a good base level. But give it something creative, like let's not be all like Olympics superstars here and go gold and, actually that ends with gold. Bronze, though. Who wants a bronze? Boy, this is gonna be like that $2,000 price point. Let's say that. And again, careful picking picking the package names. Silver, again, denotes second place, right? Don't fall into these preconceived notions of a name. Don't use silver. If I were to start with a gold, I would jump to a platinum. Those are all good things. You think about it as good things. So when you're choosing a name, and again, get out of the metals. You don't need to call them metals. But my, like, our thing is, I think we have like an essentials, which is our base. This is like your must-have, this is your essentials. Okay? It doesn't sounds bad. This is what you gotta have. And you give each one of these a different name. Funny thing is that I actually, I don't even know if I know our name of our packages right now, because we don't sell them that way anymore. We basically just build these packages custom for most people. So, that's funny. But choose a name, whatever you wanna do. Uh, consider waiting to add albums. This is is one of those thoughts where, if you're in your first 12 weeks and you've got tons of stuff to do, it's okay to hold off. I know everybody's gonna tell you if you don't sell an album, you're not a photographer. That's a load of crap. Like, I just need time to get my business off the ground before I go, because when you start selling albums, doing what you gotta do, you gotta go research. The easiest way to research albums is to go to a conference. You go to a conference, and that way you can see 50 different album makers all in one place, you can weigh, evaluate them, you can test them out, you can see whatever you want, and then you pick one. But if you're in the first 12 weeks, maybe getting out to a conference just isn't doable. And adding all of the design structure and everything like that, it becomes too much. So you might leave that out at the beginning and build it in three months down the road, after your first 12 weeks. Ask yourself, "Can clients make the jump "from Package I to Package II?" It should be between 50 to 100 percent increase between those two numbers. And that's stating that your base number isn't already $5,000. It's a smaller increase the higher your number goes up. So if you start at a thousand, it would make sense if your second package were two thousand. But if you start at five thousand, it would not make sense if your second package was ten. Okay? So just ask yourself, instead of thinking percentages, ask yourself a simple question: "Can the person thinking about Package "re-evaluate, reframe, and make the jump to Package II?" If so, perfect. Then you wanna make it difficult to reframe and get to Package III. This should be a significant jump to the third. Not because building in a bunch of garbage products. Remember, we don't do that. We build in things that persona would want, but we build in everything they would want into this luxury, gold, diamond. Give it a good name. Okay? Everything that they would want goes into this, and then we have, we've doubled up on the price, from three to six. That's your anchor. That's the one that's gonna be, "Okay, that kinda resets my mentality "on what this price should be. "Package II is a good fit. "I like Package II. "I'm gonna go with that." Do you see how we back, we used that psychology to get them back into, there is really not a right or wrong in this. The only problem is if you make Package III a $1,500 jump from, let's say, if we go from $3,000 to $6,000, but you include too much in that jump, what ends up happening is they reverse it. What if you take out this, this, this, this, this on Package III, and then it gets you to a price point that's actually lower than Package II? So you have to be smart and understand that whatever you're putting in each package has to be worthwhile, priced accordingly, and you have a collection price, which lowers the price a little bit. But there shouldn't be anything they could remove from Package III to get down to a price lower than Package II. People will find it, and they'll trick you with your own incorrect pricing. Okay? Again, the goal. Every time I talk about pricing, the goal is always deliver a product that has a value higher than each price point. That is the biggest thing. I can't reiterate that enough.

Class Materials

Bonus Materials with Purchase

How to Launch a Photography Business Workbook
Experience Pricing Example

Ratings and Reviews

Armstrong Su
 

This class and materials are to the point and eye-opening on the business side of photography. Pye Jirsa is an amazing and fun teacher as well! Most photographers need more business classes offered to bring us who love to create art back to reality for a more successful business that makes a living on it's own. This course will definately get you started in the right direction and so cheap too! Great investment! armstrong outdoor tv case outdoortvcase Pye Jirsa is one of the best instructors that I have the pleasure to learn from. He and his team have given me so much more than they'll ever realize. Knowledge, wisdom, training, friendship, mentoring, inspiration, joy... I cannot thank Pye enough for changing my life for the better. I owe them more than they'll ever realize. Thank you, Pye Jirsa!!!

Angela Sanchez
 

This class has been an eye opener for me; a point of change in my vision as photographer. Pye is and AMAZING, INSPIRING, GENEROUS instructor, with an, authentic desire to help people and to share with them the best of his knowledge. I will not have enough words to say thanks to Pye Jirsa, as a teacher and as a human being, and thanks to Creative Live who allows us to benefit from the experience of such a knowledgeable, educated, well-versed photographer and instructor. 1000% recommended!

Yenith LianTy
 

Been following this guy forever. Pye Jirsa may be well known in the wedding & portrait photography world and if there is something that this guy knows it is how to create a business, a sustainable one. The workbook he provided is comprehensive, and I honestly wish I had this when I first started out as a photographer! I love that he talks about his failures, keeping it real and honest for anyone starting out. He is definitely one of the best instructors around, super humble, down to earth and with a sense of humor to boot. The course is worth it! THE WORKBOOK is AMAZING! SUPER DETAILED!

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