The Four “R”s of Pricing Photography
[by Richard Kelly]
The Four “R”s of Pricing Photography are Relationships, Rates, Rights and Reputation. One of the most valued benefits to my ASMP membership is the relationship I have with my fellow photographers. Not just the chapter meetings or the membership list serves, but real one on one relationships with my peers. I mostly interact with photographers in other markets who do similar work for similar sized clients. The ability to bounce ideas about project proposals and price has proved extremely valuable.
When you are entering an unfamiliar market it is important that you engage fellow ASMP members and other knowledgeable professionals working in that market to introduce you to their customs. It might be a good idea to assemble a business plan for this new market. Traditionally business plans are used to raise capital or get a loan. But they are useful for this exercise as well. For instance, if you are interested in architectural photography, what are the deliverables the client is expecting? What rights do they typically license and what is the range of rates that have historically been paid? Who are your target clients and who is your competition?
When it comes to licensing your copyrights for client projects it is important to research the most common licenses for the market you are working in. There are major differences between pricing for commercial advertising, editorial and retail uses and even within those areas each photography specialty has unique rights requirements. Another important attribute is that you probably will be working in one of the many micro economies around the United States. Each of these has it’s own pricing factors to consider, which is another reminder that one size does not fit all.
Finally, We want to think that we are all created equal. But photography is a field built around marketing mythologies, unique artistic vision and professional reputation. I don’t have to tell you that there is a big difference between Richard Avedon and Richard Kelly. Especially when it comes to price.
Create a plan, learn the market, and build confidence in your abilities and most important build relationships with your marketing targets, your clients and your fellow ASMP member photographers. There is so much more to photography than pixels on a screen or ink reflecting light on paper.
ASMP Membership has its privileges.
