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Let's Talk About Pricing for Wedding Photographers

Mover & Shaker
RE: Pricing, how do you know where you are in the market? What are ways to glean the data.
Here are some ideas for understanding your market.
1. Look at lists that show starting rates. There are a lot of list for brides that list photographers and a general "starting at" pricing.
2. Talk to other photographers in our market. Take people to coffee, make phone calls, get on forums and ask the question. Remember, what we are trying to find is a general place in the market, not a full pricing model or strategy.
3. Do the leg work, by searching photographers websites. Many photographers list their pricing on their website. If not the complete pricing, they often have a "starting rate"
4. Something similar to above is to do a google search for "photographer name" + keywords like; pricing, investment, rates, etc. Most photographers have a hidden page or pdf on their website and google search will reveal their actual pricing.
5. Create a survey. Again, this will take some work, but creating an anonymous survey that you send out to 40-100 photographers asking just 1 or 2 questions can give you a ton of data. Offer to share the data with those photographers who participate, I bet they have the same question. Ask, What is your starting rate? What is your average booking rate? You could even just give ranges (3-4k, 5-8k so people feel comfortable sharing. You could even send this survey to planners especially if some of the data would be useful to them. This way, you get to mine the data but also bring value to those planners when you give them the data.
Just a couple of ideas here. 
How do you know where you are at in the market and how to set your fees?

Prime Creator

Good suggestions!