Image by Patrick Hoesly via FlickrWhen it comes to that all important moment when people start to make a buying decision about your photos, it's important not to sell yourself too short and yet not ignore the financial climate you are in. Once you've figured out the products you want to sell, figure out the price point you want to be at. At this point you figure out what you need to do to give customers an incentive to buy at your price point. Everyone likes a great deal. Make your price point the best deal. For example, if a customer only buys one photo, that one photo should be top dollar. Then for each package level the per photo price should continue downward while the actual amount spent goes up. When I package my photos, my customers can save 60 percent off of the regular pricing if they purchase my top of the line package. I know this is kind of obvious and simple but you'd be surprised how often I see people selling their photos for a flat rate. With a flat rate, the only place you can move to is a lower rate. By using what I call, "incentive pricing" you can still be flexible if you need too but you give yourself more options.Now, regarding our present economic crisis, there are two rules that will keep you in business. Number 1, don't turn down any job that comes your way. Number 2, only hold a "Fire Sale" when there's a fire. What I'm trying to say is discounting is okay on a limited basis but use it when you really need it to boost sales. If you discount all the time, your customers will come to expect it. But what is great about my "incentive pricing" is you have a system in place where you really don't need to discount because it's built right into the system.
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