As an MPA contributing writer I regularly impart advice on products and services, this article was published in the latest issue of Master Photography as a follow up to the previous months article on product selection. This issue I discussed how to present and package your product selections.
My last
article discussed the need to open up your product range in order to maximise
appeal and become more versatile. So this issue I’d like to provide some offerings
of advice on how best to create your packages and the elements that should be
assessed.
Providing more than the basics
Every
photographer can offer an album, but does offering an album make you stand out
from the competition? Does it show your creativity? Does it maximise your
profits post event? In my opinion and that of many others the answer is no. I
advise Colorworld customers on a daily basis about how to go about creating
their packages and I present the following strategies:
Target Your Customers
When
targeting your customer you need to recognise 2 types of people;
Type 1 –
Budget Clients. These are the ones who are primarily ruled by their budget and
will be looking for the most they can obtain within that realm.
Type 2: Style
Clients. These are the most desirable clients as they are motivated by the
product and getting something different and creative. They are not primarily
governed by money and may bend the rules on their budget to get the product
they desire.
Tiers or Bundles
By bundling or
tiering your products you can ensure you address both budgets and styles with
your products.
Tiering: think
of it as Gold, Silver and bronze. This firstly means you can offer the product
range based upon budget and so target the budget motivated clients. Secondly
however, and this is where the psychology comes in, no one likes being last and
so by having options in a tier your client will be motivated to spend a certain
amount extra to get the Gold if their budget is flexible.
Targeting the
style conscious is also a key element in product offerings. These clients are looking
for a product that encompasses a style element; they want something different
from the norm. So capitalise on these motivational factors by only having the
stylised elements as a top tier and not just a larger replica of your lower
tier. These customers are not limited primarily by budget and so are willing to
pay the extra if necessary.
Tiering
Example:
Gold: 16x12
Album, 2 8x6 parent albums with Designer Box and Framed Print.
Silver: 14x10
album with 2 7x5” parent albums and a Designer Box.
Bronze: 14x10
Album with 2 7x5” parent albums.
Bundling: If
you find Tiering too restrictive then Bundling may be a strategy that you feel
more affinity with. Bundling opens up your product offerings by allowing the
client to in essence create their own package. You can choose to keep pricing
simple by choosing products that would all fit within a price tag i.e. £100 per
bundle or you can price them individually and standardise your profit margin.
Example: Start
with a basic 14x10” album as a starting point and display your bundle options.
Bundle 1: 2
Parent Albums
Bundle
2: 4 Photographic Mini Books
Bundle
3: Designer Box
Bundle
4: Designer Box + Mounted Prints
Bundle 5:
Designer Thank You Cards
Bundle 6:
Framed Print
Bundling is a
great way to ensure you offer exactly what your client wants however it does
have its risks as you may only end up with a package worth less than a standard
Bronze Tier package.
Get Creative!
Don’t just
offer 2 types of album. Create a package that is more desirable and versatile
with other products such as a framed print. This technique will also mean that
you can employ a higher mark up or sell up for more profit. Sure you can employ
a single album as a basic product but presenting packages or bundles means you
can up sell from this starting point and really maximise your profit after the
event.
My last piece
of advice is to always have a signature piece; something other photographers in
your geographic area don’t have, this will help attract those type 2 clients
who have a tendency to spend more as they are looking for something different.
With the amount on offer from pro labs there is always something you can offer,
be it a vintage feel cover material, a designer treasure box or a fine art
paper.
And remember
that you can always contact your pro lab for help and information.
