A Thousand Weddings for a Dollar

[DragonflyDM]

I did an interview this week for my magazine with Bob Parsons, the CEO and founder of GoDaddy.com. In the interview he said something that was really interesting-- even for wedding photographers.

"I would rather sell a thousand products for a dollar than one product for one dollar," he said. "Because it is an easier purchase for the client, and you now have a thousand new friends who appreciate your product."

It is an extreme adaptation of my philosophy "that there is a very lucrative market in the "MIDDLE MARKET" and that you can actually increase revenue by marketing to the largest population's budget. There are more people who use your product to become viral marketers for you, and there are more potential clients who can afford your service."

Now, I am not saying that you should work for free, and that you should work below your BREAK EVEN COST (the amount of money you need to stay in business). However, there is no reason why everyone should be striving to be in the TOP 1% of the market to be successful.

I tried my hand at "high end" weddings. I found the effort needed to find clients was much more expensive. The cost in products and staying a unique selling proposition, must more time intensive, and the return on investment to be nearly the same when you consider "effort out" vs. "returned income." That is, I worked just as hard to find clients and shoot ten high end weddings at $5,000 a wedding as I did finding 15 clients and shooting their weddings at $2,500.

In fact, the "joy factor" of shooting middle market weddings was higher, because I was treated better by the client and it was a much more relaxed atmosphere. They were much more interested in spreading the word about my business. I had a much easier time selling my product.

So I am interested in your thoughts about your philosphy about your market and why you do business the way you do.

[Mike Keller]

So what dollar range would be considered a middle market wedding? What does one deliver in a middle market wedding? Do we have some definitions for low, middle and high end weddings?

And a low-end wedding does not mean low ball, just "economical." Couples having a small church wedding with a cake and punch reception need a photographer just as much as the socialites do.

[DougAxford]

Ten years ago in my smaller market I could average $2,500/wed. and I was considered middle to high end. Today, it's half that and I am still considered middle to high end. Problem is that markets are driven by the billions of idiots who buy a digicam and think they are pros and feel great at getting $40/hour which is way more than they make in their 9-5 job.

I share the same philosophy that i would rather take 1000 photos at $20 than 20 at $1,000. Problem is when either gets cut down to $10 or $500.

Of course Bob Parsons doesn't work for $1. a shot, he simply hires slave labor to do the grunt work for $1. a shot.

Doug

[ChrisPerry]

According to the experts (magazines, wed planners) a budget for a wedding is 50% reception, 10% photography (and some include video in that 10%).
So for your area, what do reception halls charge per plate, and what size weddings do you see?
1/5 of that figure is the average for wedding photography in your area.

In my county from what the brides and vendors tell me, the average wedding is $25,000, so $2500 for photography is average. I think that's about right.

But its more than just a price...it's also what do you do/give for that price.

Brides do shop around - so if you do 6 hours and no album and I do 8 hours and a 30 side 10x10 for the same $2500 they'll choose me every time (assuming our photography is comparable).

I don't think most brides know the difference between average and great photography, and I know many photogs that show old work, other's work, and albums they don't offer anymore, the best images of the past 10 years, etc.

I'm not sure how much reputation as to do with it. Yeah, we've all heard of Buissink and Cantrell, but what about our brides? I may just have to ask a few...if they don't know the industry greats (and many pro's don't!) then perhaps rep isn't all it's cracked up to be?

[Pro Photo Store]

Visit the B&H Pro Photo Store for the best Gear Prices and regular specials!

Brilliant Color for any Digital SLR
White Balance Cap
The Pros Agree on ColorRight
What People Are Saying