There comes a time in every successful photography business when you’ll decide to raise your prices. This decision can be a tough one to make, but as your skills and experience increase, your income should increase too! Think about it – if you were in a corporate job, you’d be assessed for a raise EVERY YEAR. As a small business owner, you may not raise your prices every year, but when you DO raise them, it’s important to do it in a way that is gracious to your current clients.
As a side-note, I know many photographers fear losing their clients when they raise their prices! While your clients can leave at any time for any number of reasons, it’s important to remember this: you need to do what’s right for YOU and your photography business. You will have clients who will pay your new price and ones that won’t – that’s just the reality in ANY business. However, there are a few steps to take when you do raise your prices that will encourage your clients to celebrate WITH you. Here they are:
Be upfront about it when you raise your prices. Let people know what’s coming, why, and when to expect it.
Honesty is a big part of building really solid relationships with your clients, which is why it’s important to be upfront when you raise your prices in your photography business. Tell your clients what your new prices will be, why you’re changing them, and when to expect the change to take place. Think of this like a simple information exchange. A lot of photographers get nervous about communicating these changes because it can feel like you’re asking your clients to pay your new prices – this is not the case.
Think of this communication like a heart-to-heart exchange explaining what your truth is. Something like: after 5 years in business, rising inflation, and all of the extra education I’ve been investing in (which I can’t wait to share with you at your next session!) I’ve decided to raise my prices. I promise it will be worth it and I can’t wait to share it with you! The changes will take place next month. Stay tuned!
Give your regular clients a chance to book in before you raise your prices
Another consideration when raising your prices with your regulars is giving them an opportunity to book at the current rate by a certain date. It’s almost like being ‘Grandfathered in’ – you’re honoring your current loyal customers with the opportunity to get in while the prices are still low. It’s important to put an expiration date on this so you’re honoring your price increase as well. Remember – you don’t have to think of this as a ‘sales-y’ tactic – you’re simply educating your clients about what’s coming next.
Send out an announcement about your price increase
Lastly, every good photography business that raises its prices sends out an announcement! This can be super simple and it’s really just another way to (you guessed it) EDUCATE your clients about what’s next. Make sure you outline your price increase, the new offerings that might come with it, what will change about your process (if anything), and what stays the same. This type of communication is the biggest service you can do for your clients because they can decide if your services are still right for them. At the end of the day, it’s really about serving your clients in the best way possible, right?
Increasing your prices in your photography business is never easy, but hopefully, the tips above make it a smidge less painful. If you liked this blog, you might also like my email newsletter – where I send my best advice straight to your inbox! You can sign up here.