Budgets

Q:

How do I know what to charge for interior shoots? The scale of projects is all over the place.

A:

Our industry doesn’t have a set rate structure, so pricing can feel like a guessing game. Rates are generally based on usage licensing terms, the size of the company hiring us, and our experience in the various types of photography. 

Each photographer has to come up with their midline rates based on previous jobs, the word from others, and where they are in their career and go from there. It will always fluctuate, but the one solid component of negotiation skills is asking for a higher rate than you expect, which can work in your favor. 

Q:

I found a photographer in the same industry who has their rate listed on their website, and it’s shockingly low for the industry standard. While I know there’s no fixed rate among photographers, this person charges $1,200 all-inclusive, while my all-inclusive rate is $4,200, for a similar amount of deliverables. This person is substantially bringing down the industry, and they are not new; they’ve been around for years. Is there a way to inform this person that their fee is too low and is hurting the rest of us?

A:

I wouldn’t give them feedback, as they know what they are doing. Every business has its own operational competitive strategy to differentiate itself from its competitors. We each have to find our ‘special sauce’ to bring in clients who need what we offer. What are you the best at? Use that to shape your business and attract specific clients who will pay for your specialty.

WATCH OUT FOR SCAMS, as production usually requires us to move quickly. Anyone telling us to send a payment before their finances are no longer pending in our bank account is a risk. The best method is to use an experienced producer instead of image makers handling all the finances if it’s not our specialty.

When a client asks for more, we must stop proceeding with any changes to discuss them before they happen! Engage clients in a 2-way, respectful, open exploration, knowing this is a full hierarchy engagement. 

The secret formula to get bidding financial feedback: 

When bidding on a job, clients won’t usually respond with the exact budget numbers; we have to ask with specific amounts, allowing them to respond with “yes, no, more, less…” etc.

Q:

We just had an odd situation, and I would love to consult with you and see what an actual cost would have looked like, knowing what I know now. It was for a big international brand for a big ad campaign, and we felt completely taken advantage of. We want to learn from this, but I’d love to consult with you! Is this something you might help me out with?

A:

Terrible situations happen with clients across the board, and I always have the same answer: have a rep and/or a producer on your team when bidding on any new type of project. Not all image makers have the experience to know how to protect themselves from a client. An extra set of experienced eyes before the trouble begins can be worth the cost. 

Q:

How do you work with a client with little to no budget? Do you work with them at all?

A:

Budget is always the issue. Every level of photographer deals with it, and it always ties back to the overall marketing plan. Where are you in your career? Will this image benefit you? Could it solidify a future relationship or be a good image for your portfolio? The bottom line question is: will this “lack of budget” still allow you to create a quality image? If the answer to that question is no, I’d suggest turning down the job. 

Q:

How do you navigate big corporations that are not paying advances upfront for big-budget shoots? Is it a deal breaker? Should a production company pay the upfront production expenses?

A:

Advances are extremely important but the one requirement I’d be flexible with is when we get the advance. It isn’t always before the job begins and if it’s a trusted company, I’m ok with that. If they don’t pay an advance I’d see it more as a red flag making me question if this was a trustworthy client I can rely on for payments. 

Q:

Is “authentic” becoming synonymous with “cheap” or “low production,” i.e., not wanting to pay as much?

A:

“Authentic” means believable, so the term itself doesn’t necessarily imply cheaper photography. Many photo and broadcast shoots aim for a genuine style and use stylists to achieve that authentic look. However, social media content often has an authentic aesthetic and tends to come with lower budgets.

Q:

Since I’m just starting out in the business, should I price myself a bit lower and work my way up? Can I get away with a smaller budget and get the same results?

A:

Normally, newer photographers can take on lower-paying jobs to help build their portfolios. Right now, you may be competing for these lower-paying jobs with more established photographers, but if you’re willing to offer additional services like extra time, post-work, video, etc., you’ll have a better chance of getting the job. Ultimately, the client wants to be reassured that you can handle the project, so make sure to reassure them and be flexible with budgets.