Building Your Photography Biz
5 Key Ideas to Increase Profit
Assuming you have mastered the technical side of the business; cameras, gear, assignments, locations, etc. lets examine the core principles to increase your profit.
A business plan that includes:
- Monitoring expenses
- A robust on-line presence
- High-touch customer service
- A streamlined proposal process
- Living a balanced life
1. Monitoring Expenses
Making money is short sighted. At the end of the day, what is your take home? This has everything to do with setting your billing rate and identifying your best prospects and assignments. This is an ongoing process.
2. Robust Online Presence
This is different for every photographer. A portfolio is important to show and share. Web site, instagram, facebook, twitter, blog, etc. Pick and choose based on the customer you want to attract and clearly define the niche that closely matches your skill set.
Can they afford your billing rate, again, based on your education, training and experience. Never compromise. Weddings, magazine layout, documentaries, sports, etc.
3. High-Touch Customer Service
From contact to completion and follow-up 30 and 60 days out. A phone call, text. Engage with the customer. Satisfaction is your priority. 5 out of 5 stars. Your best source of leads, happy customers share their experience. Word of mouth marketing.
4. Streamlined Proposal Process
Who, What, When, Where, How and Why. Take their initial information then create and present a DRAFT proposal.
Review it with the prospect to make sure you are on the same page. Fine tune it, pull out your iPad with the corrections, DocuSign and collect a minimum 50% non refundable deposit with their credit card on your Square.
There are a lot of what ifs on the deposit, the fee could be applied to another project. Clearly it is a test of the prospects commitment.
You are not selling images, pictures, you are selling your time. Some of this will be determined by others that offer similar services, again as you make clear with your credentials, training, education and experience.
You make more money shooting fewer jobs.
5. Live a Balanced Life
Spend time with your family, friends. Like everything in life there is today. Life can change in the turn of a hand. This brings true meaning to what you do and why you do it.
