The business side of photography
Many photographers fail to understand that a client’s budget determines their work. In an ideal world, it would be the other way around. But sadly, the ideal world and the real world don’t often intersect.
Don’t confuse “work” with “effort” or “creativity”. The latter two should be independent of the client’s budget. Whether the budget is $1,000 or $10,000, the photographer has to put forth the same effort and creativity.
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When it comes to pricing their work, photographers need all the help they can get. fotoQuote and Blinkbid are two common software tools used.
An overlooked tool for editorial photographers is Editorial Photography Estimator. The free version is still available but not the commercial version which included data for advertising photography. A new edition of the commercial version was supposed to have been released in 2011.
It’s important to remember that the Editorial Photography Estimator (EPE) is from 2001 and its numbers are out-of-date. However, the underlying concepts are still valid. Editorial fees, for both assignment and stock, are based upon the circulation of the publication and that publication’s ad rates.
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The key to helping your customers better enjoy your photographs is to raise your prices.
A 2007 USA study, with the catchy title of “Marketing actions can modulate neural representations of experienced pleasantness”, showed that marketing actions, such as changing the price of a product, can affect consumer enjoyment of that product.
The study used functional MRI to observe the brain activity of test subjects while they sampled differently-priced wines.
The subjects were told that five different wines were priced at $5, $10, $35, $45 and $90. But unknown to them, there were really only three different wines: the $5 and $45 wines were the same; the $10 and $90 wines were the same.
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From time to time, potential customers and photo students will ask, “What’s the day rate for a corporate photographer in Toronto?”, “What does the average Toronto commercial photographer charge?” or “What’s the standard hourly fee for business photography?”
The answer to all of those questions is the same: no such fee exists. There is no day rate, no half-day rate and no hourly fee.
It would be like calling a restaurant to ask, “What’s the going rate for a dinner?”
Does anyone ever ask a dentist, “What’s your hourly charge?”
Can you ask a shoe store clerk, “What’s the standard price for a pair of shoes?”
Professional photographers base their fee on how the pictures will be used, what’s involved in producing those pictures and the photographer’s talent, experience and overhead costs.
Since every job is different, there’s no one-size-fits-all price, no going rate, no standard hourly fee.
“Why are you charging me $600 more?!”
When giving a discount to a customer, it’s important for the photographer to show the normal price, the discount rate and the discounted price on the invoice rather than just showing the final discounted price. For example:
Instead of:
Photography fee: $3,400.00
It’s better to use something like:
The usual way for a commercial photographer to quote a job is to provide the client with a price for the requested photo assignment. But another method is to provide the potential client with a few variations of their proposed assignment along with the corresponding price for each variation.
Wedding photographers have always done this. All wedding photographers usually offer at least three packages of photo services. A small bundle of services for a low price, a medium bundle with a medium price and a large bundle of photo services for a higher price.
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A Toronto model agency includes these terms for booking any of its talent:
• Models don’t work for free.
• Minimum one hour booking and the time is rounded up to the next full hour. Model gets paid for the full time booked and not necessarily the actual time for the shoot.
• Model gets paid for travel time and preparation time.
