What factors should you consider when setting event photography pricing? How exactly should you determine the right pricing for your event photography services? For event photographers, setting the event photography pricing can be a daunting task. We are here to alleviate the problem. Numerous factors you need to consider are out there when setting your pricing, but we’ve filtered out the most important ones to save you time. You might not be familiar with pricing models yet, but we will explain the commonly used ones in detail to help you set your pricing more effectively. Read on and come up with your own pricing strategy, which can help you thrive in the upcoming year!
Table of Contents
1. What are the Factors Influencing Event Photography Pricing?
The following factors will collectively influence the pricing structure for event photography services. Read on, and take a close look at it:
Location of the Event
The event’s location plays a big role. Just think about the trip you need to take and the time you have to spend. If it’s remote, it may require extensive travel. It is worth noting that additional charges for travel, accommodation, parking fees, and other expenses may be passed on to the client.
Type of Event
Different types of events require varying photography services. In a wedding, a professional event photographer needs to have experience in capturing the emotion of the moment. While in some corporate events, the event photographer needs to capture images of details of the event. In some private parties, the event photographer may offer additional services, such as editing high-resolution digital files.
Quantity and Type of Photos You Need to Offer
As an event photographer, you should consider whether the client wants all photos from the session or a selected number. And different styles will also affect pricing.
Editing Requirements
You need to confirm the editing requirements with your client in advance. Just remember that minimal editing can lead to a quick turnaround while enhancing images certainly require more detailed editing work.
2. How to Calculate the Costs Before Setting Event Photography Pricing?
Calculating and estimating the costs remain necessary for an event photographer. In doing so, you will have a good command of setting an event photography pricing that is both profitable and competitive. Check out what costs you need to take into account, and learn how to calculate the costs.
Labor Cost Calculation
To determine your labor cost, you need to take a look at your annual revenue target first.
Here is the formula:
(annual revenue target ÷ weeks you intend to work) ÷ weekly hours = your hourly rate
[your hourly rate] x [total hours spent in a photo session] = [the labor cost per photo session]
You should estimate what you should do and how many hours will be spent in one photo session. In general, this involves getting your gear ready, preparing contracts, conducting the event photoshoot, editing the photos, designing print products, and discussing details with your clients.
Materials Cost Calculation
If event photographers aim to offer clients print products alongside photography services, it is crucial to do some materials cost calculation. Our print lab offers customizable product options such as albums, wallart, prints, and more. And you can sell these products in your online store and set your own prices.
However, material costs exclude shipping, taxes, and annual expenses (business licenses, insurance, advertising fees, and new gear). Get straight with all costs and you can maintain confidence in your event photography pricing.
3. Commonly Used Event Photography Pricing Models
There are several common pricing models that photographers can use to better set their own event photography pricing. The event photography pricing models include hourly rates, package deals, and customized pricing. Each model has its own pros and cons, and the one that is right for you will depend on your specific requirements and budget. Next, we will guide you to take a closer look at these three pricing models.
Hourly Rates
Under this model of hourly rates, event photographers can charge a fixed rate per hour of coverage. Hourly rates can vary widely depending on the photographer’s experience, event type, and location.
Package Deals
Under this model of package deals, event photographers offer predefined service packages for a set price. These packages often include specific hours of coverage, and a certain number of deliverables like high-resolution images, or other details. If you are not sure about what should be included in an event photography package, here is an example for you:
The event photography packages include the following:
- Coverage ranges from one to four hours.
- Professional photo editing and retouching.
- A selected number of delivered photos.
- Full provision of necessary equipment and personnel.
- Consultation with the client before the event.
- Travel expenses.
Customized Event Photography Pricing
Event photographers can also create personalized pricing plans. This pricing model can be a good option for those with unique needs or seeking a more personalized service.
4. Tips for Making Your Event Photography Pricing More Appealing
Are you looking to resonate well with your potential clients as an event photographer? Do you want to underscore the value of the photography services you provide? Here are some valuable tips to ensure that you navigate the task of event photography pricing. Read on to check out.
Setting Competitive Prices
Undoubtedly, your competitive prices will stand you in good stead when it comes to finding clients. It is advised that you conduct research on event photography rates in your locality. In doing so, you can adjust your pricing strategy accordingly. And do not forget to consider your experience level, the type of event, and the time and effort required to deliver high-quality images. It’s important to find a balance: setting rates too high might deter potential clients while setting them too low could undervalue your expertise and skills.
Research Your Target Clients Beforehand
Remember that you don’t have to appeal to everyone; instead, aim to capture the attention of your desired clientele. Just focus on identifying a niche and keep resonating with your ideal audience. You can get started by surveying your target market to deeply understand their preferences, spending habits, and expectations. In this way, you not only enhance client satisfaction but also boost your photography business’s success.
Showing Your Expertise
Communicating will never fade into insignificance. It is imperative for you to highlight your expertise and the advantages of choosing you as the professional event photographer when you engage with potential clients. What are the recommended topics? Maybe you can focus on the quality of your equipment, your proficiency in lighting and composition, and your knack for capturing the essence of each event. When communicating, customize your message to meet the client’s particular requirements. If you have examples of your portfolio, that’s better. You can demonstrate your expertise with them.
Offering Value-Added Services
Try distinguishing yourself from your peers by offering value-added services. For instance, providing an online photo gallery and encourage your clients to share their photos in real time with Zno Instant™. In addition, you can clearly outline any extra charges and specify what each package includes to ensure transparency with your clients. These moves also add significant value.
About Zno Instant™
Zno Instant™ is suitable for different types of event photography. Your clients can share their event photos during live events with QR codes instantly. Sign up for a free account and Download Zno Instant™ Now!
