Your Dream Studio: Digital Product Pricing Strategies

For the past two months in The Business Corner, we’ve been building your price list from the ground up by first determining a retail value for each product you sell. Last month, we looked at alternatives to the cost-based pricing model, examining products and situations for which cost-based pricing doesn’t work (November 2018, “Your Dream Studio: Strategies Beyond Cost-Based Pricing”). One product we briefly discussed last month that breaks the cost-based mold is digital files. For this month’s theme of digital strategies, let’s further explore how to price and sell digital files.

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Perfecting Your Digital Workflow

I remember the switch from film to digital like it was yesterday. And look where we are now. I’m about to write an article about your workflow…and it’s going to be all digital. If I wrote this 15 years ago, a computer wouldn’t even have come into the equation. But what does that mean for you? Has life gotten easier? Nope. It has gotten harder. You have more to do and more possible ways to do it (i.e., screw it up). Clients are more demanding than ever (I actually had one the other day who, after I gave her 10 preview pictures, asked for more before the proofs were ready). Marketing is a constant effort. So how do you keep up and keep your sanity?

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Your Dream Studio: Understanding and Controlling Overhead Expenses

A common mistake that many new photographers make is assuming they keep every dollar they make. Businesses cost money. Whether you only offer digital files or you are a full-service studio, there are still costs involved. Cameras, lenses, memory cards, computers, hard drives, ink, paper, pens, internet, electricity, gas in your car—it adds up. If you’re serious about making money in this business, it’s important to treat it as a business. That means recognizing your expenses and learning to budget for them.

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Where Did All My Clients Go?

Are you sitting there wondering why your business is struggling? Why your phone is not ringing? Why your email leads are nonexistent? Are you convinced that it’s not your fault? That it’s somehow the Russians? Or even worse, all those dastardly shoot-and-burners? In this article, I show you some ways to change your “luck” and take control of your destiny. The sooner you realize there is plenty of business out there for all of us, the sooner you will start taking a healthy and realistic look at your business—because then and only then will you accept that you control your business.

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