Business slowing after price raise?

<p>Recently, after being told over and over by brides that I was "soooo cheap" I decided to ever-so-slightly raise my prices. I am, now, about average for my area.<br>

I used to get about 5-6 inquiries every week but this seems to have slowed to about 1-2.<br>

Did anyone else experience this after a slight price increase?</p>

<p>This ALWAYS happens after a price increase. You just have to stick it out for a while. If the 'while' drags out with no pick up, then you know you can't go to the higher price yet.</p>

<p>You might need to give yourself more time to see if it's related to a price change, especially since your change was so slight. January thru March tend to be heavier for the equerry calls in my area and then it tends to taper off....you may be looking at typical fluctuations.</p>

<p>Betty, not to get into politics, I actually feel some states are in a depression, such as Ohio, while most of the other states are in a recession, as we are aware of. I'm not sure of your location, but something to evaluate. Since you are still getting 1 or 2 calls a week you are doing better than most. If these people aren't booking with you ask them why they chose a different photographer and if price was a factor. This will help you decide if you want to go after the higher end market. Our studios are safe right now with 11 events in May. We are also signed up for our first bridal show in several years. This show is in Beverly Hills so we are hoping to pick up a few leads at this show, knowing this is a higher income area.</p>

<p>If you are hurting for business consider networking with reception halls, florists, DJ's, signing up for a few higher end bridal shows, and even join your local Chamber.</p>

<p>I've only had 1 not book with me so far (because she wanted a lot more than I was able to provide, no biggie, I recommended someone else). So, I think I'm relatively okay....I just don't want the well to run dry I guess.</p>

<p>I have not had a call for two weeks now and I have not raised my prices. I think things are always slower at this time of year anyhow. At least around here. I expect to get a few queires per week under normal conditions and a few more when things are busy.</p>

<p>If you stop getting inquiries, lower them again when you can not stand it any longer.</p>

<p>in my experience spring is generally a slower time of year for inquiries, and the current economic climate isn't helping out any. stick it out... I'm sure you'll be back to normal soon.</p>

<p>I try to raise my prices each year once I'm at a point when I'm comfortable with the number of bookings I have for that year. This way I'm experimenting with additional business rather than my core....-Aimee</p>

<p>We usually raise our pricing when we get a 80-100% booking rate, when we're at 60-80% booking rate we're at the sweet spot. :) Just stick it out, it'll pick up again. :) Though I think I can already see why you're not booking:</p>

<p>Remove the 4x6's from your packages. It's a superfluous add-on that is getting very old fashioned and should be an a la carte purchase. I suggest having an album in your second package instead of just in your top. Brides want albums, not 4x6's. There really is no value change until that top package. I would even consider keeping your bottom package, and then having your top package as you second package and then another package on top of it. If there's less than $500 difference in the package, there's really no point in having it. The smallest difference in any of our packages is $750, and that's from a la carte to complete packages. Everything after that is at least $1000, and we're quickly booking up for 2010.</p>

<p>Hi Betty,<br>

I'm glad you finally raised your prices! You are worth more than what you were charging. Last year about this time I did the same thing: raised them to a more "average" rate, and then panicked when nothing seemed to be coming in interest-wise. <br>

But it did pick back up after a little while. And to be honest, I'm really slow right now too for inquiries. I didn't have more than a couple calls total the last few weeks, but just had four in the last few days. So I wouldn't worry yet. If you hit July/August and are really low on bookings, that might be an indicator. But my busy season for bookings are January/February and then a trickle of interest up until late summer when it picks back up.<br>

One thing I noticed: when inquiries did start coming in after raising prices, brides tended to value my services more. I wasn't chosen just because I was cheap... they were commenting more and more on how much they liked my pictures. And my word of mouth referrals have sky-rocketed. :)<br>

Good luck!</p>

<p>I was going to raise my rates this year, but with all the economic doom and gloom I decided to hold tight for now. I'm busier than ever and 2010 is booking up fast.</p>

<p>Betty,<br>

Cathy and David (as always) have good marketing ideas. Yes, offer the albums as 4x6's are something you upload to Walgreen's, etc. and aren't a unique product. Also, albums aren't an apple-to-apple comparison product and there are so many ways to make a nice profit with them....-Aimee</p>