Why you're failing to upsell your photography...
Why you're failing to upsell your photography...
We put so much emphasis on the first price tag we see.
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Hi everyone! 👋
Anchoring
$34,000.
Now let’s discuss offering your services for $2,000.
Wait...!
Does $2,000 sound like a good deal? But what’s the deal?
It doesn’t matter.
The First Number We See
Based on Kahneman’s work, if we are told to ignore a number, we still stress the first piece of data we receive. $34,000 is an irrelevant number, yet when we immediate start discussing your price at $2,000 seems low, even cheap. But we haven’t discussed what you get with your $2,000.
This is anchoring.
When presenting our packages or skimming the surface of pricing, we want to set the bar high with our clients. This is where listing your prices gets many photographers into trouble. They set the lowest expectation and see if they can up-sell (But that’s a whole blog itself).
“…we want to set the bar high with our clients.”
When asked what are your prices say this,
“My prices usually range between Y and X.”
That’s right.
Say the numbers in reverse - high to low.
When pricing your options, there isn’t a formula, but this can help.
Option #1 = X
Option #2 =2.5X
Option #3 =5X or more
For example:
Option #1 = $2,000
Option #2 = $5,000
Option #3 = $10,000
Further Reading: Thinking, Fast and Slow by Daniel Kahneman
Cheers,
Jordan P. Anderson
Ask yourself this:
🤢 Feel gross trying to market yourself?
💸 Looking to raise your photography prices?
🤳 Instagram your new full-time job?
😨 Referrals dried up?
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