Latest / Luxe & Legacy Podcast / Why Summer is the Best Time to Raise Prices (Even in This Economy)
Transcript
- Welcome to the Lux and Legacy Podcast.
- I'm Marie from Marie Elizabeth Photography.
- And I am Amber from Light Live in Photography.
- We created this show for photographers who are ready to run a luxury business with clarity, intention, and elevated artistry.
- Each week we uncover the strategies behind high level brands from shooting and styling to client communication, to marketing, to designing heirloom products that increase your value.
- If you want to attract aligned clients, produce, work with a recognizable aesthetic and build a business that supports the life you want, this podcast will guide you there.
- Let's dive in.
- Hey friend, welcome back.
- Today I am recording this one solo because Amber is currently somewhere between packing lists and sunscreen, getting ready to head to Hawaii.
- I am so jealous, and I'm looking forward to living vicariously through her through photos.
- So while she's off prepping for a much-deserved vacation, I wanted to hop on here quickly and talk about something that comes up constantly in the photography world, especially this time of year, and that's pricing.
- And specifically, why summer of all t- all the times is actually the smartest season to raise your prices.
- It might sound backwards.
- Everyone assumes slow season in winter or the new year is that magic pricing reset button.
- But stick with me, because I've got three reasons why summer might just be your golden window.
- And once you hear them, I don't think you'll look at your prices the same way.
- So reason number one, summer is right before busy season.
- Here's the thing about raising your prices in winter.
- If you're anything like most photographers, winter tends to already be a little slower for bookings.
- So when you raise your prices and you're in a natural lull, it's really easy to I mean, nobody wants to book me anymore.
- When really, it might just be January being January.
- But summer, summer is sitting right before your busy fall season.
- So even if there's a little dip right when you raise your prices, you're not going to feel it nearly as much because fall is about to come in and carry you.
- You get to test out those new numbers without the fear spiral that comes from raising prices during an already slow stretch Reason number two, the miss the boat clients are about to come find you.
- Okay, this one is interesting, and I really want you to sit with it for a second.
- We're in a very weird economy right now.
- I don't need to tell you that.
- We're all feeling it.
- And because of that, a lot of families who would have normally booked spring photos this year, they simply didn't.
- They held off.
- Maybe they were waiting to see how things would shake out.
- Maybe the budget just wasn't there in April or May.
- But the thing is, fall rolls around, and suddenly it hits them, "Oh my gosh, we didn't get family photos this year."
- That itch doesn't go away just because they skipped spring.
- It just gets pushed down the calendar.
- So all of those people who miss spring and summer, they are going to come flooding in for fall because fall is the last real chance before the holidays to get that family photo taken care of, which means you're about to have more demand hitting your fall calendar than usual, not less.
- That's exactly the kind of moment where raising your prices in summer sets you up perfectly because you're stepping into a season where demand is already building, not one where you're trying to convince people to spend.
- And reason number three, fall's extra revenue funds your next slow season.
- So after that big fall rush, you're likely going to hit a slower period again, and that's usually when you'll start to feel your higher prices a little more.
- But here's the beautiful part.
- You'll have just come off of a strong fall with all of that extra revenue from your new pricing sitting in your business account.
- So instead of panicking when things slow down, you gotta use that season intentionally.
- Pour it into marketing.
- Invest in marketing education so you'll get potential clients landing on your website or Instagram.
- My personal favorite marketing education is Melissa Arlena's SEO educational offerings.
- I know I rave all the time about the power of SEO and how it works for you, and you don't have to constantly check in with it every day like you do with social media.
- So work on parts of your business that never get attention when you're buried in photo sessions.
- Raising your prices in summer basically funds your runway.
- You get the busy season to prove the pricing works, and then you get the slow season to invest in growing even further.
- Okay, so that was short and sweet, but to recap, summer isn't the scary time to raise your prices.
- It might actually be the smartest one.
- You've got the cushion of fall right around the corner.
- You've got a wave of miss the boat clients about to come looking for you, and you've got the perfect setup to reinvest once things quiet down again.
- If you've been sitting on a price increase wondering if now is the right time, this might be your sign.
- And one more thing before I hop off, and I just wanna mention that we still have a couple spots left for our 2026 Gather workshop with The Kindred Path.
- That's with Adrienne of Beatific Visions Photography, and Kayla of Kayla Marie Photography, and yours truly.
- We're hosting it this year in the beautiful mountains of Virginia outside of Charlottesville, in the most stunning Airbnb.
- There are gonna be horses.
- It's just gonna be really dreamy.
- Anyway, we have a couple of spots left, and this workshop happens in just a few weeks, so it's a great time to jumpstart and go into fall with a refreshed and clean palette and get some beautiful imagery along the way.
- So if you're interested, I'll include a link in the show notes or just feel free to send me a message All right.
- That's it for me today.
- Amber will hopefully be back with us next episode.
- Until then, shoot me a message and tell me, are you raising your prices this summer? I'd love to hear it.
- Talk soon Thank you so much for spending time with us today on the Luxe and Legacy Podcast.
- We love being part of your journey as you build a luxury photography business that feels aligned and elevated.
- Be sure to follow us at Light underscore Live in underscore photography and.
- At Marie Elizabeth and if you enjoyed today's episode, we would be so grateful if you left a review.
- It truly helps other photographers.
- Like you discover the show and join this community.
- Make sure to join us next week.
- We have another conversation that's going to inspire and give you even more tools to grow your brand with confidence.
- We can't wait to see you then.
- Bye.