So if you have been selling prints for a while, and you’re listening and you’re thinking, “Okay, he’s going to drop some knowledge bombs on how to price my products,” this is probably not for you.
But, if you were just starting out, you’ve never sold prints before, then this is what I want you to do…
The 30-Second Print Pricing Strategy
I want you to skip it. All right?
Okay… sort of.
I want you to just take your costs and multiply them by three or four. Three or four, and move on.
We need momentum right now.
This is, like I said, the second biggest thing that trips most photographers up when they switch to selling prints. The first one is, “What prints do I sell? What products do I sell?” And then, “What do I charge for these things?” So for right now, I want you to just multiply them by three or four and move on.
Skip Pricing? Heresy!
Now, you might be all up in arms right now, so don’t stop listening to this if you’re thinking, “Oh my gosh, this is terrible advice. This guy has no idea what he’s talking about.” I want you to hear me out, okay? You’re thinking, “Hey, but this doesn’t account for my time. It doesn’t account for any of these other expenses that I have.”
And that is absolutely true. But, right now, again, what we need is momentum.
I have three main reasons that I think that it is better for you to skip really digging into your pricing right now, and circle back later.
Make it work today, and make it better tomorrow.
The Case for Skipping Pricing (… for now)
Those three reasons are this.
Your actual prices, when you go through and say, “Okay, this is how much my time is worth, and this is how much time it takes.”
Those prices might terrify you.
You might do that math and say, “Oh my gosh, I can never charge enough for this. I could never charge these prices. I can’t do this.” And that might stop you from doing what you really need to be doing, and that is selling printed products.
The second thing though, is that you don’t know what you don’t know yet. All right? So you’re really just guessing when you say, “How much time is it going to take me to do this, and this, and this, and this?” You have no idea yet.
So you’re kind of just putting out these made up prices anyway, so let’s just not do that for right now. Instead, three or four X your cost, and move on.
Do this for a while. Sell them at that price point for a while, until you have a good idea of what this process that you’re going to be learning through this series, of what this process is really like, because what’s going to happen is the third thing.
You’re going to do this, you’re going to put this process into place in your business, and then you’re going to see that this process is amazing for your clients. Yes, it’s obviously great for you as well. But, it’s a really, truly good process for your clients.
What’s going to happen is you’re going to circle back to make it better with your prices. Those prices that were terrifying before, well now, you have the data to backup how much time it takes you to do everything. But, more importantly, you’re going to see those prices and they’re not going to be so terrifying anymore.
You’re going to look and you’re going to say, “Yeah, I’m worth that. In fact, I’m worth a lot more than that.”
So that’s what I want right now, I want you to just three or four X your prices, and move on, because we’re going to make it better later when you have a much better idea of just how great this process is for you and for your clients.
Psst… I’ve Done All Of The Work For You
So last week I gave you the list of products to sell.
This week, I’m going to do the same exact thing.
I’ve taken that same list from last week, and I’ve gone and done all the leg work for you. I’ve gone and I’ve found every single cost for every size of each of those products that I think you should offer, and I’ve put all of those costs in.
All you need to do is go in and multiply those costs by three or four, and your prices will be done for you.
So you can grab those over at theprintmakersystem.com/prices.
Again, it’s every product that I think you should sell if you’re just starting out, and every size of every product, and I’ve gone and I’ve contacted the labs and gotten all of the costs for all of those products. It’s done for you.
I have no idea what we’re talking about next week. It’s going to be a surprise for all of us. But, I will see you then.
Again, I want to encourage you though, head over to theprintmakersystem.com/prices, and download that and be done with your products and your prices so we can move on and get you selling prints and not files.
Take care, I will see you next week. Bye.
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It’s this simple:
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To Be Continued…
Since this was a quick-win kind of episode for those just getting started, it may not have answered your questions about how to set your print prices if you’ve been selling for a while.
What IPS-related topics scare you the most? What is that burning question you’d love to have answered? Leave a comment so I can be sure to cover it in an upcoming episode!