The business side of photography
While browsing through the corporate site of Postmedia, Canada’s largest newspaper chain, a few things stood out:
• The site has no pictures of its directors, just text.
• There are portraits of its entire executive team along with short bio’s of each. Perfect! But:
Are you feeling stressed? Does your spirit need to be lifted? Do you need a healthy glow? Then have we got the cure for you: a big dose of Honeysuckle 18-2120.
The colourful folks at Pantone have declared that this is the colour for 2011. Please adjust your life accordingly.
It’s common practice for news photographers and editorial photographers to pitch photo ideas to newspapers and magazines. In fact, many publications expect this.
A smart commercial photographer or corporate photographer could do the same thing with clients with whom they already have a working relationship. But in this case, just pitching an idea isn’t good enough. The photographer must also sell the reason for the proposed photo coverage and the benefits of that coverage.
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First basic rule of business: cash in must exceed cash out.
Revenue from assignment – cost of assignment = gross profit
Gross profit – overhead expenses = net profit (before taxes)
Revenue from assignment is what the client pays you, not including taxes.
Cost of assignment is expenses incurred to do the assignment.
Overhead expenses are expenses that have to be paid whether or not you have an assignment. For example: camera gear, computers, software, car, insurances, utilities, cell phone, rent, etc.
Net profit: if there’s any money here, remember that you still have to pay income tax plus all your normal living expenses.
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When you ask how to attract more customers to your photography business, the common answer is to stand out from the competition. But of course, this is easier said than done.
Most photographers use similar cameras, lenses, software, lighting equipment, and computers, and many are capable of producing images of comparable quality. So, how can you truly be different?
In the era of film photography, standing out was a bit easier. Back then, being different may have meant having the skill to track fast-moving subjects with follow-focus, knowing how to use flash/colour meters to accomplish great lighting techniques, having darkroom experience to make custom prints, using a large-format camera, or developing a unique photographic style.
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Here are some of the best ways for a business to waste its marketing efforts. These have been proven to produce poor results and push customers away. If your business has too much money and you need to waste some of it, these tips should help you accomplish that goal:
• Send out press releases without any pictures. This is the best way to let editors know that your press release isn’t really important and you don’t want attention.
• Use stock photography. Nothing says “we don’t care” more than the use of cheap, stock pictures. Custom photography won’t waste money since it provides useful information to customers.
• Make sure your About Us or Contact Us web page doesn’t have any pictures of your key employees. Why risk gaining credibility and trust with your customers when you can be another impersonal business?
• Use only low-resolution pictures on your web site. Large pictures have the problem of attracting and holding customer attention which can encourage them to open their wallets. Going small is a great way to waste your web efforts.
Today, I received a “Dear Photographer” e-mail which proclaimed that I’m being considered for “free” inclusion in the next edition of a prestigious “Who’s Who” book. Supposedly, I’m one of the top, most distinguished photographers in North America. Being included in this book will mark my high level of achievement.
Yeah, right.
For fun, I visited this company’s web site:
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