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Fine Art Prints Pricing Strategy Example

Lesson 31 from: Creating Your Ideal Photography Business

Kathy Holcombe

Fine Art Prints Pricing Strategy Example

Lesson 31 from: Creating Your Ideal Photography Business

Kathy Holcombe

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Lesson Info

31. Fine Art Prints Pricing Strategy Example

Lessons

Class Trailer
1

Class Introduction

07:01
2

How To Price Your Products

05:01
3

Which Products Will You Offer

13:14
4

Methods For Pricing

10:38
5

Mark Up Factors On Products

05:46
6

What Is Your Per Hour Figure

04:45
7

What Is The Feasibility Of A Product

11:28
8

Target Sales Average

08:04
9

Session Fees Pricing Strategy

09:48
10

Minimum Purchase And Incentives Pricing Strategy

05:53
11

Bundling Pricing Strategy

25:47
12

Pre-Design Pricing Strategy

10:33
13

Album Pricing Strategies

10:33
14

Example Pricing List

17:33
15

Business Basics Overview

07:07
16

Tracking Product Lines In Your Business

14:01
17

Track Your Session Counts

07:19
18

Know Your Sales Average

06:41
19

Importance Of Data Analysis

10:14
20

Overview Of Costs

13:46
21

Professional Photographers Of America Benchmark Survey

18:57
22

Creating A Vision For Your Business

08:25
23

What Do You Want To Accomplish

13:31
24

Take A Leap Of Faith

20:19
25

Refine Your Vision

12:44
26

Products That Sell

07:48
27

Identify Pricing Strategies

03:03
28

Portrait Pricing Strategy Example

15:57
29

Album Pricing Strategy Example

09:21
30

Online Pricing Strategy Example

08:21
31

Fine Art Prints Pricing Strategy Example

05:54
32

Packages Pricing Strategy Example

12:39
33

Sales Strategies Overview

05:45
34

Portrait Sales Session Overview

05:34
35

Sales Strategy for Portrait Sales

22:56
36

How to Present Images to Client

23:03
37

Sales Strategy for Wedding Sales

09:49
38

Album Pre-Design

18:51
39

Marketing: Define Yourself

12:55
40

Who is Your Ideal Client?

05:12
41

Who is Your Ideal Partner?

03:27
42

How to Start a Partner Business Relationship

08:29
43

Marketing Strategies that Work

17:10
44

Product Lines: Business Plan Part One

09:07
45

Workload: Business Plan Part Two

08:23
46

Sessions: Business Plan Part Three

16:06
47

Expenses: Business Plan Part Four

11:14
48

Clients: Business Plan Part Five

05:29

Lesson Info

Fine Art Prints Pricing Strategy Example

Now let's check out this one. Okay, 2016 pricing guide. High end, low end, what do you think? Are we looking at the really elegant restaurant or the diner? I'm thinking elegant restaurant here. Okay and it walks us through again, I love this one, step one, step two, step three. Only three steps, easy to understand. I know that this photographer's going to take care of me and walk me through this and make it easy. That's one of our filters, right? Okay, so here's what it says. Create your own collection pricing structure. What does that say? That says, I'm not gonna tell you exactly what you need, I'm gonna give you the freedom to choose. Some buyers really, really like that. So, our create your own collection pricing structure gives you the flexibility to design a portrait collection that best suits your needs. That says, I care about you and what you want and what you need. Firstly, select your digital file package. So this photographer's goal is to sell the digital files. It's not ne...

cessarily a bad goal. Let's look and see how they have it set up. Secondly, choose from a range of fine art products. And lastly, select any extras. Okay, so those are the three steps I have to go through as a buyer. So I have two choices to make, right off the bat. I can choose 10 digital images or I can choose the entire session. We're talking about $500 for 10 images, $800 for the entire gallery of 25 photographs. It's clear, so I know when I go into that session, that I can expect 25 great images from that session. They're laying it out very clearly for the client to understand. $500 to $800, it's not a huge jump. It's almost double, but not quite. So if all 25 images are extraordinary, I can see clients jumping from that $500 to that $800 pretty easily. If they have to give up 15 images for $300, if the images are great the client won't do that, they'll go ahead and go with this entire package. Step two, select your fine art portrait. So I think what's nice about this is this photographer is saying, yeah, I'm gonna give you the files, but you also really need to have something beautiful for your wall. So let's talk about that too and not forget this part. So, then we have sizes. We have a reasonable amount of sizes here. It starts at a 30X40, so they started big and they're working their way down. The prices, let's look at it. $400, $300, $240, $180, $150, $100. It's simple, they're round numbers. I would say that if you could make them even bumps between them so if you did $400 to $350 to $300. Make them just round, happy math. Everybody actually likes happy math, not just us. And so I really like how the sizes descend. The prices are good, round numbers. I think it's a really well laid out price list. And then you have prints and you have canvases. And so, again, I think you could eliminate this entire column by just saying, if you'd like a canvas, it's an additional $100. From $400 to $630, so maybe it's $200 to upgrade to a canvas. Clients like canvas, they're willing to pay for that. Okay, and then over here, we have the signature album. Now to me, this looks like, kind of an afterthought, a little bit. So I don't know if that's intentional, to put the albums off here, if it's not a focal product. But it's a little bit different than these other products. So one way that you could lay it out a little bit differently is to say, wall art, book art. And then you have two different pathways. Because in general, clients either really like wall art or they really don't like wall art. And if they really don't like wall art, they'll probably purchase an album. Some clients feel pretentious putting a big picture of themselves on their walls. Those typically aren't photographer's clients, but some people really do prefer to have something a little more discreet, off to the side. It doesn't mean they don't value photography, it just means that they don't wanna have it huge on their wall. So, by kind of splitting step two and saying here's the wall option and here's the book option, you could bring this in more. If this really is something that the photographer's not really into creating, pull it off the list, don't even offer it. Either bring it in all the way or take it out all the way, but kind of hanging here on the side is a little bit confusing to me. And then it says, I love how they just chose one album though. It's our signature album. It's 10X10, it's custom designed, and it includes 20 pages. Boom, that's what it is. So, and then it says 10 double page spreads because sometimes there's confusion between pages and spreads when we're talking about books. Then, the last option is select your additional items. So do you need mounted desk prints, do you need baby announcements, holiday cards, or thank you cards? So there's that thing, oh by the way, did you know we did this too? It's a beautifully laid out price list. It's very well executed.

Class Materials

Bonus Materials

Business Plan Worksheet
Expense Worksheet
Sales Averages by Product Line Worksheet
Sales Projections by Product Line Worksheet
Session Count Worksheet

Bonus Materials with Purchase

Art of the Sale Book
Creating a Vision Workbook

Ratings and Reviews

Lindsay
 

I started my business a year ago with little formal technical photography education. It's hard to admit but I've been winging it, figuring out each small task that goes with photographing a session, editing one, and working with clients as I go. I may be doing things backwards, but now that I feel like I'm more comfortable in those small, specific parts of business, I need to figure out how to make this business sustainable and profitable. Kathy's class felt perfect for this time in my business to take a step back and look at the bigger picture of what I want to focus on and where I want to go (and how much I want to pay myself!). She uses realistic, specific numbers: something that's SO helpful and I feel like I rarely see in the photography community. And she breaks everything down in an organized and easy to understand way. The classes were easy to follow along with and Kathy's positivity and patient manner is inspiring and motivating. The fact that she used to be a school teacher is clear. Thank you so much Kathy (and the rest of the Holcombes)!

Jenny Farrell
 

I am so glad I was able to attend this course in person and receive all the wonderful and practical information Kathy shared with us. I also really enjoyed the connections with other audience members and side conversations with Creative Live peeps as well as the Holcombe family. What an inspiration this family is--lots of practical info, but also a great pep talk to not sell yourself short and get out there and do what you love, but use sound business practice while doing it. Thanks so much for these incredible two days.

Vanessa
 

Fantastic course! Very helpful instruction and how-to guide for anyone considering starting up a photography business. Kathy was an excellent instructor, with a wealth of knowledge and experience. I gained a good understanding of the practical everyday aspects of running this kind of business, and how to create my own vision.

Student Work

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