It’s simply not true that all brides and grooms care about is PRICE.

I know it feels that way when you get hit with the “price question” in every email and phone call, but it’s not.

Consider this…

High Price = High Value

Low Price = Low Value

We’re conditioned to look at price as an indication of value.  If an item has a high price, we assume that it has higher quality.  If the item is low priced, we become suspicious that the quality is low, too.  You can read about this in the fascinating studies done by Dan Ariely in his book, Predictably Irrational.

In fact, a certain group of brides and grooms will purchase the most expensive option just on principle!  Just having a higher price means people place more value your product or service, right off the bat.

Up to 20% of customers buy the most expensive option, no matter what you’re selling. (Stats reported by Dan Kennedy)

If that’s not an argument for increasing your price, I don’t know what is!

But you can’t just arbitrarily raise your price and expect people to pay it.  You need to deliver more VALUE.

Raise Your Price, Increase Your Value

There are two ways to raise your value:

1. Stack the Value – This involves adding bonuses, gifts and extra features to what you offer.  Hint: You can make the packages you already have more valuable just by listing all the things that are included.

2. Increase Your Perceived Value – Influence the bride/groom’s opinion of your value.

Your perceived value is the bride or groom’s opinion of your value, which may have absolutely nothing to do with your price.

In other words, you can influence the bride’s opinion of your worth without actually changing anything about the actual product or service you offer.  This is where we get into those stealth sales tactics we love so much.

The Instant Income Boost

There is a strategy you can use to increase your price that anyone can do, immediately.  Right now.

Add a very expensive, high-end package to your offerings and you will increase your average selling price immediately.

The funny thing about us humans is that we judge the value of a price based on the prices around it.  So when you add a very high price for comparison, your other packages become much less expensive.

Here’s an example.  Let’s say you have 3 packages.  Package A is $1,000, Package B is $2,000 and Package C is $3,000.

packages in boxes

Package A – $1,000
Package B – $2,000
Package C – $3,000

Studies show that most people will buy Package B.  Why?  Because the average person says, “I don’t need the most expensive option, but I don’t want to be cheap.  I’ll go with the middle option.”

So if your goal is to raise your average price to $3,000 in this example, you need to add a higher end package.

In addition to your original packages, you create a fourth package costing $4,000.  By comparison, the $3,000 is a lot cheaper and you will immediately increase your average sale price.

lady holding boxes of packages

Package A – $1,000
Package B – $2,000
Package C – $3,000
Package D – $4,000

Go ahead and try this experiment.  One of our photographer clients did this by creating a $6,000 package she was sure she’d never actually book.  She ended up raising her average sale price right away…and she did end up booking that $6,000 package a few times.

Want to Learn More Strategies For Raising Your Income? WATCH THIS VIDEO:

Click to watch the video!CLICK HERE and enter your name and email to watch “The 3 Magic Bullets of Money Making: How to Double or Even Triple Your Income Without Working Your Tail Off!”

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Stephanie Padovani

Stephanie is a Hudson Valley wedding insider, blogger, writer, and wedding business coach. Want to book more weddings at higher prices? Quit dealing with price shoppers? Transform your wedding business so that it supports the life you really want? Look her up! They don't call her the Wedding Business Cheerleader for nothing. :)

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4 thoughts on “Want to Get Paid More? Learn the 2 Ways to Raise Your Price and Get It”

  1. Florian says:

    Hey Stephanie,
    nice to hear from you. Thank you for the very interesting answer and your point of view. I believe you are totally right in two points. Quality of Leads & a little bit more flexible.
    Perhaps I was too inflexible in my packages to my clients. I take pleasure in “offering” a fifth flexible package IF the client ask for it. It is totally true what you say if you have only individual offers to your clients you will confuse them and you as the offering person are snowed under with individual “explaining&mailing” work. That is now my position. I have now very very long email conversations with my clients to explain them the price, the service and the result. For the clients it is not clear now what he/she will get if booking me. I think I will reflect on your words and will change my communication policy. Thank you for this view.
    But I have a probing question. How to generate leads which are high quality or in other words the right audience (clients). With magazines or with marketing campaigns or Facebook (which is not so dominant in Austria!) with a service entry for brides in my blog? Or Networking? I think I have not the right quality of my leads or I address the wrong client segment. In other words a “noname” segment or everybody.
    To answering your question. There is only one photographer in Austria in the high end segment. But he is based mostly in Beijing. His offices are in Beijing, Moskau, Vienna & NY. He is very expensive. That’s great. The rest of all photographer here are working for peanuts. I don’t like peanuts and want to position my business in the upper middle class and upper class. So how generating the right leads in a culture where mostly of the people are not fans of posting a comment on your blog, which are not interested in showing their great weddings pics online and are not interested in being connected with you in Facebook.
    I’m intent if you have an idea.

    Best wishes from Austria
    Florian

    1. Hi, Florian. Your questions are a little too complex to answer in a comment. :)

      Here are a few links to articles that offer some help:
      http://www.bookmorebrides.com/how-do-i-get-more-leads-for-my-wedding-business/
      http://www.bookmorebrides.com/how-much-should-i-charge/

      We do offer consulting so that we can create a strategy specifically for your business and market. Please contact us if you’d like more information about it. Thanks!

  2. Florian says:

    Hey,
    I think your strategy is not useful for professional wedding photographer because this way is too inflexible for the customers.
    I tried this way of pricing last year (wedding photography in Austria) but I have changed this way of communication to my clients. I believe in your word if you have a choice of three packages you will take the middle one. I take always the middle one (not the highest offer and not the cheapest one) But my clients don’t think so or don’t do it. I had three offers 1k, 2k and 3k and nobody booked the middle or the highest one. The cheapest one was booked and all others were ignored. In photography it s very hard to offer fix packages because every client is very individual and has other needs. If the client doesn’t get what he/she wants (or the price is not acceptable in this case the package) the clients call the next photographer and this photographer has an easy way with his offer. He must undermatch your offer with only 100 € or $. The result you have lost the next client. Perhaps the culture in the USA is different. But in Austria the photographer with the lowest price wins.

    Best wishes from Austria
    Florian

    1. Florian, I’m so glad you posted this comment. You’ve brought out the most important aspect of ANY strategy: it must be tested and the results measured to prove its value for you.

      Now, the psychology of choice and decision-making is the same in human beings. And there are low-budget clients and high-budget clients in every market, so I don’t think that’s what made the difference for you.

      It could be the quality of your leads, the image of your business, your price point relative to the market or the contents of your packages. If you’re only attracting low-budget clients, you won’t be able to sell them a higher priced package.

      When one of our photographer clients came to us, she offered a la carte services. Basically, the couple could create a custom package. This caused massive confusion for her couples and as a result, many of them walked away without booking.

      I suggested that she simplify down to her 3 most popular packages and make them her primary offerings. From there, if they wanted to customize, she would. She noticed an immediate difference and her profits and bookings increased right away.

      Another pricing strategy is to start with the lower entry-level price and then “upsell” with additions and enhancements. This can often increase your total revenue per client without creating psychological resistance.

      Are there ANY Austrian photographers who are booking at higher rates? I suspect there are. Find out what they are doing differently and use it for your own business.

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