Dream Sales Tip: How to Maximize Profits from Each Session!
Jul 12, 2013 at 10:03AM Hi. Kyung Jung here. As many of you may know, along with running Dream Album Co., I am a longstanding portrait photographer in the Washington, DC area. I recently received several phone calls and emails asking about pricing and maximizing profits from photographers who are just starting out.
It inspired me to put together some pricing tips that can help any photographer — whether you are in your first years of business or may just need to revisit your sales structure.
Take this sample scenario. Jen, a newborn photographer in a North Carolina suburb, is sitting down with her clients to show them the image gallery from their session. The clients are thrilled and can't imagine how they can possibly narrow down their choices to fit their budget. They love 30 of the images in the 40 image gallery! But, with à la carte pricing, the price sounds way too steep.
In Jen's pricing structure, her 5x7 prints start at $45 à la carte. $45 x 30 = $1350.
But, Jen can easily turn her clients' initial sticker shock around by giving them a way to save money! She can offer the same number of images in a leatherette 9x9 Dream Album with one image per page and one of our six border options for a flat, reasonable $1000 fee. But the sale doesn't end there!
Once the clients are happy with the idea of the 9x9 album for $1000, Jen can offer a number of upgrades — a custom design image cover with the baby's name and birth date, a special quote on the first page, an upgrade to larger size 12x12 Dream Album, a Luxury Presentation Box, a 2nd album just like the first at a discounted price, and/or a Twin Mini Set of albums for the grandparents.
The following table shows a sample sale Jen makes…
|
9x9 Leatherette Dream Album (30p) |
$1000 |
|
Custom Image Cover |
$180 |
|
Twin Mini Set |
$550 |
|
Protective Album Presentation Box |
Free when album order is $1500 or more |
Jen designs the Image Cover using our free template and grabs her 30 selected 5x7 images and places the order of a 9x9 Image Cover Dream Album with border #3. She also adds a logo debossed Luxury Presentation Box and Twin Mini Set. Within an hour, she is done placing her order. It's a breeze.
You get the idea. You will be amazed by how much business one album will bring you. If your clients really fall in love with the album and upgrades, you can make up to double and possibly more, in profit without adding more of your time!
Plus, an added benefit — the products that your clients purchase become powerful branding tools for your business, when you include your business name. Dream Album can create a custom metal die with your company name or logo and add a gorgeous debossing touch to a number of our products.
Bottomline, my suggestion is for you to have a basic album starting price and then offer upgrades with Dream Album Co.'s extensive collection of albums and display pieces. The products sell themselves!
We can’t wait to hear from you. Please share your thoughts and success stories. We can all learn from each other.