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Photographers will inevitably encounter a time when their existing rates no longer reflect their skill and experience, inflation, or their cost of doing business. But increasing rates, especially in a smaller market, can feel overwhelming. John Harrington, author of More Best Business Practices for Photographers, dispensed a practical approach to increasing rates, which includes:
- Put a “valid through” on all your rate sheet information.
- Offer a discount if someone comes via referral and is aware of your previous rates
- Shift your target customer to a more affluent level
- Find the 20% of customers who aren’t price sensitive.