Wednesday Wisdoms

You’ve been told the potential client’s budget, and you’d like to meet it but don’t want to be held to that amount in the future – use the words “Discounted Rate” as the best excuse not to guarantee that same rate next time. Even better, put a discounted percentage subtracted under your actual total to show the deal they are getting.

“Discounted rate” is a term used to protect oneself from future pricing when bidding for a job that has a lower budget than what it should actually cost. By taking off a certain amount from the total bid, one can still get the job, have the desired images for their portfolio, and protect themselves from future pricing demands. This approach is useful when the client is desirable and the type of images is beneficial for the portfolio. This way, the bidder is protected from being trapped into meeting the same requirements in the future. It is also possible to avoid listing out prices and just providing the total amount to be charged for the job.

Retouching rates leave ambiguity when it’s based on per image, so one way to protect your time spent is to make it a day rate. As you track your time, the client can be aware of the image(s) progression and even try to speed it along, helping them achieve more out of that 10-hour day they are paying.

When pricing retouching fees, it is important to be careful as clients and photographers may have different interpretations of what is being done, what is being supplied, and how many revisions are allowed. Feedback can become intense if not priced accordingly. One way to handle this is to charge a day rate for one 10-hour day, based on time instead of production level or the number of images. This makes it more about the retoucher’s time rather than the amount of images being worked on.

Cover yourself by getting a 50% Advance Invoice BEFORE the job begins. You have more power in the game with clients on your side to get you paid and not delay the photoshoot vs. trying to convince them to hurry up after the job begins.

It is important to get an advance on your invoices. It is recommended that 50% of the job awarded should be invoiced in advance, and this should be included in the estimate and terms before the start of the shoot. If the request for advance payment is made after the shoot has begun, the client may have more flexibility and less urgency to make it happen. Pushing for an advance invoice before the shoot begins shows a level of professionalism and sets clear expectations with the client. Clients are more likely to respond positively to a clear and organized approach, and this can help build trust and credibility in the business relationship. Overall, advance invoices are an essential tool in the photography industry, and their importance should not be overlooked.

Rate sheets, rate cards, and day rates do not have to be the same across the board. Rates are based on more than your time, amount of images, and usage terms. Your unique creative experience and the client’s budget affect your fees, making ‘one single rate’ for every project an incorrect business model system.

Day rates in the photography industry are not fixed and can fluctuate depending on various factors such as the artist’s level of experience, usage, and the client’s budget. Negotiation skills and a sales mindset are crucial in determining the day rate for a particular job. The assumption that day rates remain the same once a certain level of success is achieved is incorrect. There can be a range of prices to consider, and it is not necessary to stick to one specific price.

Additional usage pricing options are the one client request which gives us more flexibility than the other bid costs since they do not add to the bid total. My approach is to come in higher on these since it won’t make or break a bidding situation, allowing the wiggle room to be lowered after we get the job.

Discussing the benefits of pricing oneself for additional options for usage when negotiating a photography job. By having control over additional usage terms, a photographer can negotiate for more options and flexibility in their fee. This allows for more negotiation and freedom, as photographers are not held to a strict usage amount in their fee. Furthermore, additional usage terms are optional and can be used as a bargaining tool to ask for more money or benefits. This approach can provide more financial security and opportunities for photographers in their industry.

Photographers’ overtime rates (after 10 hrs) are charges I was only using for the crew. Now I’m seeing some clients approve this as a normal request. I’m changing my bidding plan to include OT rate information (10-12 hrs= 1.5x hourly rate, after 12 hrs= 2x hourly rate) on every estimate.

The topic of whether photographers should charge overtime for themselves, not just their crew, is a new and uncertain area for many photographers. We put the question out to our Facebook group and received a variety of responses from different clients and photographers. Despite the differing opinions, we suggest that photographers should try to include overtime in their estimates and see if clients are willing to accept it.

OUR MARKETING PLAN should not be defined solely by what we know from last year. We must stay ahead of the evolving ebbs and flows, depending on the concept that what worked last year gets old quickly in our business. If we rely on what worked before as our one course of action, we will lose out on all the potential nuances of our progressive industry.

The biggest mistake in marketing planning is to stick rigidly to a set plan. Marketing involves going with the flow and being open to trying new things. If engagement is received on social media, it’s important to follow up and see who else at the company might be interested. Staying up to date with new technologies and algorithms is also important, and being open-minded and flexible in approach can lead to natural progression and success.

Bidding with larger clients usually means dealing with cost consultants asking us to reduce their selected costs. The better we prepare with strategic category padding, the more we can keep in our budget and respond with reasoning explanations of why costs need to stay the same. 

When bidding for a job with larger clients, it is common for clients to hire cost consultants to review and fine-tune the bid. The cost consultants’ job is to reduce prices, so it is expected that some areas will be padded. This can include crew size, producer time, equipment rental, and even meals. To prepare for cost consultants, it is recommended to pad some areas knowing they will be reduced. For example, inflating prices a little bit or bringing up prep days with the expectation of being asked to reduce them. It is important to adjust for cost consultants on the client side to secure the job.

Always provide an estimate. Don’t tip-toe around this when a client doesn’t request a bid from you. If all details are emailed to you, discussed on the phone, or you approve their pdf, send them your estimate to cover yourself with all potential mishaps.

When a client approaches you for a job and provides you with a contract, they may assume that all the necessary details are included. However, it is important to submit an estimate to ensure that both parties are on the same page. An estimate includes information on prices, what is covered, and what is not covered. It is also important to include a job description and details on any additional items such as travel expenses or equipment. By providing a clear estimate, you can avoid misunderstandings and ensure that the client understands what they are paying for. Even if the client does not ask for an estimate, it is highly recommended that you provide one.

Overages can be tricky. If you are on set or prepping on production, they ask for more, and you’d like to say yes, wait for that exact overage cost to be approved – preferably in a traceable email, signed estimate, or even their overage PO. The magic word is APPROVED. Get your overage cost approved BEFORE you begin spending that extra amount. 

It is important to account for overages in estimating project costs. Overages refer to additional charges that may be incurred when changes are made to the original project specifications. We advise that overages should be approved by the client before they are incurred. For instance, if new props or backgrounds are added to a project, the client should be informed that additional fees will be incurred.