Pricing is among the more challenging components when establishing and running your own photography business. After all, in a competitive industry that is so heavily driven by cost savvy customers as well as the reputation of your peers, many photographers feel that their pricing is what stands between them and a more prominent pipeline of work. However, when clients stipulate a particular budget for work they are requesting, what considerations should one be affording such factors?

First of all, using your clients’ budgets as means to price your work can deliver some benefits. Among new and emerging photographers in particular, who are looking to attract customers and build their marketing via word of mouth, budget-focussed pricing can be beneficial. Similarly, this approach is also flexible enough to allow more experienced photographers to continually increase their customer base by taking on work that they otherwise might not normally do. Furthermore, this business method also enables differentiation between specific individual and corporate clients, realising that jobs within each segment are unique.

While these all seem like positive aspects, there’s also a lot to consider that weighs against this. When you frame your business model upon the concept that your pricing will be based around the budgets of your clients, you’re naturally relinquishing some control over said business. Do you really want your clients, especially first-time clients, to have that much influence?

In the event you do proceed with this strategy, you’re also potentially going to attract a range of customers that you can’t feasibly service. These are also likely to be the customers that aren’t necessarily loyal to your brand or work, as many have a primary focus on picking the lowest cost operator – and newsflash, every time you think you’re among the most affordable photographers, someone else can easily undercut you.

This cost cutting practice only drives the industry’s worth downwards, and is unsustainable for the majority of businesses who suffer from eroded profit margins. Variable, and tighter, profit margins also throw out the forecasting and planning aspects behind your business, so you’ll be operating on the go with less foresight into how successful your overall operations are.

Last but not least, why should the photography industry adopt a non-standard practice? Do operators in other service based industries base their business model upon the client telling them the value of their own work? Isn’t that why one is an expert in their own field? Photographers are better placed than clients to advise them about the value of their work, and in the process, uphold the industry’s reputation and worth.