It’s undeniable: 2024 has not fulfilled all our hopes and dreams. Intentions set in January may have faded by now, and many wedding and portrait photographers I know are uncertain about their business’s survival. I’ve had countless conversations about maintaining mindset, navigating strategy in this soft market, and finding resilience in moments of hopelessness.

First, you’re not the only portrait photographer feeling this economy.

Every photographer, wedding and portrait, every small business owner and most people I know in the corporate world are saying the same thing: we are in a recession, inflation is hurting people and election years are always tough (in fact, plan for this to happen again in 2028). You are not alone. It is not your work or your price.

The question often arises: Should you drop your portrait prices?

I understand the temptation. With fewer inquiries, increased ghosting, and sluggish bookings, dropping prices might seem like a quick fix.

However, reducing your portrait prices impacts more than just your price list. Your pricing is just one element of a larger story that includes your service offerings, products, brand, and ultimately your income. Plus, there’s no guarantee you will generate enough new business to offset the income loss of lower prices.

So, what’s the alternative? Here are a few ideas:

Instead of dramatic price drops, consider trying one or two of these strategies to boost revenue and bookings:

1. Create a special offer for a limited time or specific days. For instance, introduce a unique session type available only one weekend in July, featuring a distinctive location (outdoor or rented) or a custom set.
2. Collaborate with a local business to co-host an event where you can promote your full-service sessions. This partnership could involve a local boutique or complementary service provider. Trust me, these businesses are slow too and looking for ways to draw in customers.
3. Reach out to clients from the previous year to schedule their next session.
4. Send a product offer to your email list, such as designing albums from their sessions, creating wall galleries, or offering limited-time products. And yes, it’s ok to offer a savings during this promo to encourage buyers!
5. And the standard go-to: schedule a branding event. But you could take this a step further by partnering with a women’s networking group or connecting with a larger business for headshots.

By focusing on targeted promotions and creating partnerships within your community, you can potentially increase bookings while preserving the value of your photography services without resorting to widespread price cuts.

What to focus on now?

Aside from the suggestions above, now is the time to do all the things you’ve never had time to do. In a soft economy this where you will find me:

• booking dreamy portfolio sessions,
• product research to find something different than the norm,
• blogging (hello, here I am!) to increase visibility,
• reaching out in my community to get to know people who will be happy to support and refer my business,
• creating a bank of reels to use in the future (it takes me so long to create social content, so when it’s slow I do my best to create a few week to store for the future).

I get it. It’s way more fun when the economy is strong.

Many people I talk to express concern, wondering if they can endure this economy. I’m here to assure you: you can. By taking the right steps, you can weather this rough storm and eventually see the rainbow at the end. I speak from experience, having navigated similar challenges before. Our economy operates in cycles, underscoring the importance of establishing a sustainable, robust business built on proper pricing and offerings.

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