How To Increase Your Price Without Losing Clients

Jan 5, 2024

What’s one of the most important questions an entrepreneur, such as yourself, can ask?

How can I increase my price without losing clients?

As you gain experience and master what you do, the value you offer to clients increases. That should be reflected in your price - and ultimately, your reward £££!

But when is the right time to put your price up? And how do you do it?

We love transparency, so we’re going to start by sharing when and how our co-founder and instructor Matt Tyler has put his own prices up.

What Matt did

When he started out over 14 years ago, Matt was charging £900 for his wedding packages. This included an engagement shoot and a beautiful wedding album.

Before too long, Matt found he was getting booked up easily. This steady flow of jobs allowed him to build his portfolio. However, it was also the first sign that his prices could be higher.

So the first thing he did was drop the wedding album from his package, and charge separately for it.

When the work continued to come in, he increased his cost to £1,200, then £1,600.

Once Matt had built an impressive portfolio of high quality work, he dropped the engagement shoot from his basic package and began to charge separately for that also.

Matt does not generally increase his prices annually or based on factors such as inflation. Instead, his core belief is that the value and experience he brings justifies the price he is asking.

Today, Matt charges £3,000 for 12 hours of his time on the big day. A wedding album is an additional £750, and an engagement shoot is £700.

Our tips for when to consider increasing your price

Asking clients to pay more requires confidence. That confidence will come if it is grounded in something.

Here are some few rules of thumb for when you could consider increasing your prices:

  • You are fully booked up with little to no effort.

  • Your competitors are charging more (note: who your competitors are may change as you become increasingly experienced and recognised as a photographer).

  • Since your last price increase, you have shot 10 or more weddings, and you believe your additional experience enables you to offer more value to your clients.

  • Since your last price increase, you have done something tangible to significantly develop your skill and expertise as a photographer.

Our tips for how to increase your price

Once you are happy with the idea of increasing your price, here’s a few tips on how to actually go about it:

Make sure you are targeting the right clients for your expertise and price.

  • Make sure your portfolio is updated and highlights the best you have to offer today.

  • Simplify your packages and offer extras at additional cost.

  • Increase your price in line with your market research i.e. what your competitors are charging (or slightly higher!).

  • If you’re unsure who your competitors are or what their prices are, consider a 20% increase as a starting point.

Photography is a passion, but it is also a business.

So our golden rule is: never stagnate. Instead, work hard to justify your prices by continuing to master your craft.

What we’ve shared only scratches the surface of several exciting and essential areas photographers need to consider to grow their business.

Sales are open for our Visual Storytelling Masterclass, which we hope will be an opportunity for you to level up your wedding photography.

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