If the title intrigued you, I'd bet that you feel slightly insecure about raising your creative fees. It's my belief that somewhere along the way, someone said artists shouldn't get paid, and we foolishly chose to believe it. Then, we further damaged each other by spreading that lie. This is the purpose of this entire video.
Acting Like a Profitable Photography Business
Hotels and airlines raise their prices based on demand. I'd say virtually every other brand on earth does that same. If there's a demand for something, the prices go up. We read about this in school, and even though we complain, as a society, it's widely accepted. Why is your business not qualified to benefit from demand?
Why is it difficult for the photographer or videographer to raise their rates? If you're booking a lot, then raise those creative fees. If you're undercutting the market, raise your rates because we will all lose. If you're delivering a great product, then raise your rates, because you're worth it. You're not a machine, and you create each photograph as a one-off project. Each wedding, family photograph, product shot, landscape portrait, or newborn photograph is unique. That type of customization deserves a higher wage.
If we act like a business that wants profitability, people will treat us as such.
Big Budget People Hang Out With Big Budget People
When you travel, you're likely traveling with friends and family with a similar budget. You dine at the same restaurants, and your friends probably prefer brands that you do. Life is easier this way!
We build bonds over experiences like shopping or vacationing together. For that reason, wealthy people hang out with wealthy people and budget-conscious people hang out with other like-minded people. Both can be great, one is just greater for your bottom line.
When you're sitting at the table having a meal with friends, you're talking about your life and things that excite you. Some of my best referrals have come from friends. When your clients are excited about their photoshoot, they'll talk about it. Since big-budget people hang out together, you'll be referred to other big-budget people. They will refer you to their big-budget neighbors and the list continues.
The same conversations happen with people who are working with smaller budgets. They keep referring you to others with a small budget.
Difficult people hang out with other friends who are difficult. Kind people hang out with other kind people. This is common knowledge, but we all need the reminder.
That's another reason why I'm asking you to raise your rates. Because you raised your rate, you will 100% lose a few clients, but that creates an opportunity for new clients to walk into your life. That's a great thing! Those new clients who are OK with your new rates will start referring your beautiful work to their friends. It'll all work out. Bet on yourself!
Understanding Your Contribution
Here's another reason why you ought to raise those fees. Your work is the future of advertising, whether it's photography or video. We put images on album covers, magazine pages, billboards, products, social media feeds, and clothes. We launch careers with the right bio photo and help people find their first dates with dating apps because of a flattering photograph.
The skills you have are so widely in demand, and businesses cannot exist without a photographer or videographer. Wake up! You're in demand, and you should be charging for that!
