Wedding photography pricing and package design can be confusing and overwhelming due to the competitive nature of the industry, the constant evolution of technology and trends, and the need to balance the needs and preferences of clients with the costs of doing business. In this guide, we’ll cover the factors that affect wedding photography pricing, the types of wedding photography packages available, the average cost of wedding photography, and tips for budgeting.
This tutorial is based on the education in the Photography Business Training System in SLR Lounge Premium.
Wedding Photography Pricing Seminar (Video)
One of the most important steps to building and running a successful photography business is understanding your price versus value ratio. If you underprice your products, you can be perceived as a budget photographer. Alternately, pricing too high puts you at the very real risk of not landing enough work. Finally, if you offer too many discounts, your customers will begin to expect discount prices. It’s a fragile, yet vital game. In addition to the strategies mentioned in the video, here are additional wedding photography pricing tips for photographers. We recommend that you start by watching this pricing seminar by Pye Jirsa.
Understand Your Costs
Before setting your wedding photography pricing, it’s important to understand your costs. This includes identifying your business expenses, calculating your cost of goods sold (COGS), and determining your desired profit margin. Knowing these figures will help you establish a pricing structure that is both profitable and competitive. For more information, see our article on Wedding Photography Salary and Pay.
Research Your Market
Researching your market is another crucial step in creating an effective wedding photography pricing strategy. Analyzing your competition, identifying market trends, and determining your target clientele are all important factors to consider. By understanding your competition, you can determine how your pricing structure compares and how you can differentiate your services. Market trends can also provide insight into what clients are looking for in wedding photography services. For more information, see our article on How to Start a Photography Business.
Determine Your Pricing Structure
Once you have a solid understanding of your costs and market, it’s time to create your wedding photography pricing structure.
Package Pricing Style
Create 3 or 4 different packages that have a large enough dollar difference and more importantly a significant enough difference in perceived value. The goal is to get the client to move to the next higher package. The jump can’t be too painful monetarily and the change in value has to be significant enough to incentivize them to do it.
The lowest package should be insignificant in perceived value in ratio to the retail value. Its true purpose is to serve as a benchmark for the next package. The middle package(s) should be your true selling package. Fill this up with the commonly requested items and price accordingly. The highest package is for display purposes. It should be loaded with everything and the kitchen sink and priced high enough to warrant the load.
It also helps to have the a la carte set of options where each individual item has the full retail price associated. Note that typically the packages show a significant discount when items are put together. Again, we are talking about incentives.
Pros of using packages:
- Easy to read and digest
- Contains all the common requests
- Clients can shop “off the rack” easily
- Minimizes the need to discount and negotiate if the common requests are well addressed
Cons of using packages:
- Swapping out products/services requires calculations and negotiations
- Changing menus and pricing can be tricky in the middle of a season since it requires keeping track of what package you passed out to whom
- Clients may feel pigeon holed into packages
- Clients don’t always understand the full value of the elements included
A La Carte
Have a base value for services. In the wedding industry, that equates to 8 hours as a starting point and any additional hours are part of the a la carte menu. In the portrait industry, this is your sitting fee.
The a la carte menu will show a retail value but should be somewhat discounted as if you were adding them to a package yourself. You can also opt to have full retail values to the items and let your client know that discounts may be applied once the items are selected.
Pros of a la carte:
- Client feels like they have full control of their options
- Client understands the full value of all the elements
Cons of a la carte:
- Requires a calculator and some thought
- Allows client to keep the dollar value lower
- Negotiation tactics and discounting methods will need to be used heavily
Product Credit
This is more of a combination of A la Carte and package mentality. Take the retail value from the package strategy and take the base value for services in the A la Carte mode, the difference between the two is the product credit. The total retail is the base value that you are willing to do work for it’s what I like to call, my “roll out of bed” price.
You will need to have an a la carte menu to go with this. The retail prices on the a la carte should be somewhat discounted to the degree that they would be included in a package strategy.
As a side note, this method, has been my most successful approach for my portrait business.
Pros of product credits:
- It gives both you and your client control
- Client understands the value of the elements.
- Negotiation and discounting methods are not necessary though may still be implemented as you see fit.
Cons of product credits:
- Requires a calculator and some thought
Effective Communication with Clients
When presenting your wedding photography pricing structure to clients, effective communication is key. Addressing common concerns and questions, setting clear expectations, and being transparent about your pricing can help build trust with clients and make them more comfortable with investing in your services.
Remember that wedding photography is an emotional experience, so instead of focusing on the logistics and technical aspects, keep your clients engaged in the stories and emotion of the product and experience.
Show what you want to sell
This is the easiest way for a client to invest more into their photography package. If your client is interested in albums then make sure you have albums on the table, if they’re interested in wall portraits then have those hanging on the wall. When a client can see what a desirable product looks like in person, they’ll entertain the idea of purchasing it more.
Conclusion
Finding the right pricing strategy for wedding photography services can be a challenge, but by understanding your costs, researching your market, creating an effective pricing structure, communicating effectively with clients, and remaining flexible, you can establish a pricing structure that works for both you and your clients. Remember, pricing is not a one-size-fits-all approach, so be willing to adapt and make changes as needed. With the right pricing strategy, you can attract clients and build a successful wedding photography business.
