Beginner’s Guide To Pricing Photography

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This very long and meandering post is intended for new photographers. It outlines some general concepts behind setting a price on photography services.

 

Money is better than poverty, if only for financial reasons.

– Woody Allen

 

First rule: Never give a price over the phone or off the top of your head.

Second rule: You’re running a business. You’re supposed to make money by charging more than your costs.

Third rule: Like all businesses, you tell your customers what your services cost, not the other way around.

Fourth rule: Never base your prices on Cost + Profit Margin. Always base your prices on value to the customer. Charge for what you know, not for what you do.
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Ready for your close-up

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I photographed a week-long tennis tournament last week for the event organizers. The media relations folks were, as always, fantastic. They were friendly, helpful and always available. They answered every question, sorted out every problem, had all necessary tournament information available and arranged every interview. Free pizza and beer were handed out at the end of each day and ice cream was given out on very hot days!

The media work space was perfect: a large, air-conditioned room with tables, chairs, power, Internet access and refreshments. There was even some large comfy chairs for people to have a quick afternoon snooze. Did I mention that some days ran 14 hours?
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A Leg To Stand On

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I just finished post-processing 1,017 images. Several of those photos will be used for marketing and public relations, both in print and online, later this year and next.

The client doesn’t know which images will be used over the next twelve months so all the photos had to be processed and delivered now. Over 2,400 images were shot and those were edited down to 1,017. I probably could’ve edited it down a lot more but I wanted the client to have a broad selection to cover all future possibilities.
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Timing is Everything

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A couple of weeks ago, Editor & Publisher posted statistics from its sister company, Nielsen Online, showing the average time-on-site for the top 30 newspaper sites in the USA. These numbers compare June 2008 with June 2009.

Some news sites like NYTimes.com experienced a 50% drop, whereas the Boston Globe’s Boston.com enjoyed a 300% increase. With only four exceptions, all the news web sites had numbers far below the average time a reader spends with a print newspaper. According to the 2008 Readership Institute Study, the average American newspaper reader spends 27 minutes with a paper.

What does this show, if anything?
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Adding Value

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The phrases “added value” and “extra value” are tossed around by many businesses these days. Some companies use these terms not because they know what they mean but because they’re nice-sounding catchphrases that might lure in customers.

Value is determined by the customer and not by what a business might say. If a customer needs 24-hour service, then free parking is not an added value. If a customer wants a salad, then an “extra value” meal with large french fries has no extra value.

Price is what you pay. Value is what you get.

– Warren Buffet

Adding value means a business goes beyond customer expectations. This is a relative scale because different customers have different expectations and needs.
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Fortress Journalism

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The BBC College of Journalism released a 92-page document, “The Future of Journalism”. The information in the report is the result of a journalism conference held in London in late 2008:

Today, as technology changes the lives of both journalists and their customers, assumptions about what journalism is and how it is practiced are being re-examined.

The eight chapters include:

  • The End of Fortress Journalism
  • Introducing Multimedia to the Newsroom
  • Multimedia Reporting in the Field
  • Dealing with User-Generated Content: is it Worth it?
  • Video Games: a New Medium for Journalism
  • The Audience and the News
  • Delivering Multiplatform Journalism to the Mainstream
  • Death of the Story

If you are a journalist, this might be of interest to you. Although, ironically, much of it is old news so the report might serve as reminder.

If you’re a corporate photographer, this document might be worth reading or at least skimming. Your business clients have news and information they want to get out to the public and the news media. So perhaps there’s something to be learned from this report.

 

Illegal Motion

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Football has a penalty called “illegal motion” which is when an offensive player is in forward motion before the ball is snapped.

Speaking of offensive, there’s a contest currently being run by a Photoshop magazine (not affiliated with Adobe). The contest winner gets to pretend they’re a pro photographer on the sidelines at a USA college football game. The contest is open only to amateurs.

The prize is “a dream sports assignment of a lifetime” and includes: the winner will be loaned the necessary gear (with which they probably have no experience using); they will go to the stadium’s media room to get a “big spread of all kinds of food”, a “full blown buffet”; they will “mingle with other media folks”; and finally, the winner gets a media pass to shoot on the sidelines.
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