This is just another view-from-my-office photo.
Corporate customers don’t buy photography, they buy an end result. How much is that end result worth to the customer? Or to rephrase that, how much does your photography contribute toward achieving the customer’s goal?
It’s better to price for the value of your work (i.e. value to the customer) rather than for the time spent doing your work. If you price based on time, by the hour or by the day, you will leave money on the table because most customers will pay more if they get more (value).
How do you know what a photograph is worth to a customer?
Ask them.
Of course you can’t ask, “What’s it worth to you?” The customer won’t know how to answer because we all confuse worth with cost. “What’s it worth” is not the same as “how much do you want to pay.”
Instead, ask the customer about the project, what the pictures are for, how are the photos going to be used, or what do they expect the pictures to do for them. You won’t always get the answers you need but you might get lucky if you pay attention.
Learning The Lesson
Try to decode what a customer is really asking you to do because they aren’t just buying pictures. It took me a long time to learn this lesson.
Before:
• In the 1990s, I quoted $700 for a group photo for a luxury hotel and lost it to a photographer who quoted $1,800. (I knew the other photographer and he later told me what he got.)
• Also in the 90s, I quoted $600 ($150 x 4 hours) for a press event for a car manufacturer and lost it to a photographer who quoted $2,400. (I knew the other photographer.)
• I once quoted a bank $1,600 for two executive portraits and lost the job to a photographer who quoted $2,800. (A friend who worked for the bank’s PR company told me.)
• In 2002, I quoted an insurance company $400 to photograph two of its executives participating at a charity event. I lost the job to a photographer who charged $1,200.
After:
• A few years ago, I quoted $2,000 for two environmental portraits for a corporate magazine and got the job over another photographer who quoted $700. The photo editor laughed when he told me about the $700 quote.
Before quoting a price, I asked about the magazine. The printed magazine was mailed free to the company’s gold and platinum members (i.e. paid members) but not to the free members. That was an indication of the magazine’s importance to the company.
• In 2019, I quoted $1,200 to shoot a two-hour brunch hosted by a political group. I was later told that other photographers quoted “around six or seven hundred dollars.” Whether you get a job or not, ask the customer what the other photographers quoted. They may refuse to tell you but the information can help you know where you stand.
Before I sent a quote, I asked who would be at the brunch. The expected guests included the mayor, former provincial premiers, some cabinet members and maybe a former prime minister. That kind of guest list meant the event was important and the pictures would have value.
• I recently quoted $800 for a quick outdoor group photo for a large delivery company. They told me afterwards that another photographer had quoted $250.
Before I sent my quote, I asked who was going to be in the photo. The company’s contact person described the group in general terms and then added that their CEO would be there, too. Having the CEO come to a quick photo, literally on the far edge of town, meant the picture was important.
• I quoted $980 for pictures of someone picking up their new vehicle at a dealership. My client was a car manufacturer and the contact person later said another photographer had quoted $300.
Before my quote, I asked the car company why they needed pictures of such a routine event. The company’s contact person said the vehicle was specially customized for the buyer and the car manufacturer’s Canadian president would hand the keys to the customer. Decoding all that: customized vehicle meant expensive and company president onsite meant important event.
It turned out that the car buyer was the CEO of a well-known clothing company. By having the company president on hand, I suspect the car manufacturer was trying to butter up this high-value customer. The photos were used only internally by the car company and I think they sent a print to the customer.
• Two months ago, I quoted $3,000 to photograph some trade show booths set up in a convention hall. After the job, I asked and they said another photographer had quoted “about $1,000.”
The customer, which manufactured the trade show booths, earlier told me that it needed photos for its new web site and a new promotional video. They were currently using mostly cellphone photos and now wanted “really nice professional pictures” for their new look. That meant the photos would be an important part of the company’s rebranding.
Contributed Value
You won’t always be successful with your quotes because it depends on the customer and what they value. But if a customer truly values their corporate image or if they need to create or enhance a certain business message, they will often hire a more expensive (i.e. experienced) photographer rather than the lowest bidder.
If a customer needs routine pictures for routine use, they will often hire the cheapest photographer. This photographer is a supplier.
But if the customer is creating something of higher value then there may be more (perceived) risk involved. The customer will hopefully realize that they need expert help and will hire a more expensive (i.e. experienced) photographer. This photographer is a contributor.
It’s not about charging as much as possible but rather it’s trying to determine a price that reflects the value of your contribution to the customer’s end result.
