The level you set your prices at is crucial to your business, of course, but so is the perception of your brand. One issue many photographers overlook, however, is how their prices impact the perception of their brand. This excellent video examines the topic.
Coming to you from our friend, Pye Jirsa, with SLR Lounge, this excellent video discusses the important topic of balancing brand and price. In it, Jirsa discusses how charging your clients too low a price can actually undermine the value of your brand. Obviously, in a literal sense, charging less results in lower levels of income for you, but on the other hand, it also lowers the perceived value of your brand. After all, think about when you shop for some specific item — a television, for example. While we all look for a deal, we tend to associate higher prices with higher quality and vice versa. The same applies to customers looking at your photography brand; if you price yourself too low, you risk creating the perception that you are a lower-quality photographer. It is an important balance to consider in crafting your own brand. Check out the video above for the full rundown from Jirsa.