Today is all about the benjamins!!! Profitable pricing, not sure I ever considered profit in all of this. But let’s do this exercise.

So Question 1: What is your current pricing strategy, and what results has it delivered so far?

Well my pricing strategy right now is value pricing – which is based on my perceived value (which I perceive is $100). I’ve also tried to sanity check that against what other photographers are selling prints of that size. What results has it delivered? Well I’ve yet to sell a print. Which is disappointing, doubly so since all my profits on my prints go to charity.

Question 2: What value does your product/service provide to your ideal customer.

Well ideally I provide a high quality print or a unique portrait for them.

Question 3: What are my business costs and how do they impact my pricing.

Well my only recurring cost is the cost of hosting- $120 a year. I do all the server and website work myself. I don’t factor this into any of my pricing.

So all this aside, I don’t think it’s a pricing issue. In my estimation the prints I offer are priced fairly. I’ve yet to book anything service wise with anybody, so I can’t speak to that. I do have a traffic issue though. Which I hope the marketing activity in yesterday’s challenge can help address…