How To Increase Your Profits In 2004

By Willie L. Hill, Jr.

  1. STOP offering your clients PROOFS! There's a raging war going on out there among the photography community concerning proofs, and the only victors are the clients. You know the ones I"m talking about. They steal one or two proofs, they steal all your proofs, or they don"t show up with your proofs for another year and a half. My studio has been digital for 4 years now, so we have not been giving out "paper proofs", but we have offered "digital proofs". This method has greatly reduced our processing expenses, but there is still some thievery going on (everyone has a CD/DVD burner). Last year we finally implemented a watermark on all of our images placed on a "digital proof" CD-ROM. Going "proof-less" has been a gradual process for us. This year if our clients get to take home a CD-ROM it"s only after they"ve placed their final order. Lastly, online proofing and in-studio projection is our preferred method for 2004. After two months of testing, I"ve seen client orders triple in sales. I"m convinced this is the moneymaking road to travel in this war.
  2. Rolling Advertisement: Several years ago I needed my garage door serviced and as I was driving to work one day, behold, a van with a magnetic sign advertising garage repair service passed me. That incident was the birth of my rolling advertisement idea. I"ve been to several Third World countries and one difference I"ve noticed about Americans: The bumpers and back ends of our vehicles are "prime" opinion and advertisement real estate.. Use it! I cannot tell you how many times people have called me after writing down the studio"s phone number or pulled up along side me and asking for a business card after seeing my magnetic signs. For an investment of $84 bucks you can"t beat a 24/7 rolling billboard.
  3. Join Your Local Chamber: For years I resisted this moneymaking idea because who needs to join another meeting, especially one that meets 7AM in the morning? Here"s why you need to do it, though. My first month after joining my local Chamber the organization needed portraits of its new board members for the annual member"s directory. Guess who got the job? Most Chambers are tied into City government. Guess who gets their business? Here"s my favorite benefit. In our monthly Chamber meetings each member gets a one-minute verbal advertisement spot and a chance to pass out business advertisement. So, if you want to be the ONLY act in town, seek out your local chamber. You"ll probably be the sole photographer in the entire membership.
  4. Get A Website - Quick!: It's a shame, but it took me 2 years to get my website up and running because of procrastination. The only smart thing I did was to pay the domain registration fee and list my link on my advertisement pieces although my site wasn"t active. Now that I"m online, I've notice increased profits because 1) "Cyber Surfers" are finding my business through links I'm not even aware of, 2) I don't have to describe my expertise and style of photography over the phone to a potential client (they can view multiple examples for themselves, and 3) Online proofing has placed my clients on my marketing team. They share my website with everyone in their email address books at home and work.
  5. Frequent Bridal Shows: If you want to increase your profits in this area, you have to go where the "qualified prospects" are. Every "bride-to-be" at a bridal show is begging you to take her money. Someone has to take it, why not you? Sure, it's going to cost you a few hundred bucks to attend, but I assure you that I have not attended any bridal show that I did not book a minimum of four new clients. Bridal shows are worth every penny.
  6. Postcard Mail Outs: One of the cheapest and "in your face" pieces of advertisements is a postcard. Don"t let 2004 go by without mailing postcards advertisement to your clients before these major upcoming holidays: Valentine's Day, Easter, Mother's Day, Fall Family Time, & Christmas. If you wisely design your postcards they can also be mailed out during additional times throughout the year.
  7. Beg, Borrow, Steal Leads: One of the most valuable assets any business has is its client database. First, of all do you have one? If you don't, make 2004 the year that you compile an address corrected listing of each new client and every previous client. Then seek out other vendors in your area whom you can Joint Venture with and swap client databases: Florists, caterers, limos, cake designers, etc. These "free leads" are the tip of the iceberg. Don't forget paid leads.
  8. Go Back To School: The cheapest education I can think of is available every month at Guild Meetings. Over the past year that I've been a member I've learned and implemented some hot money making ideas from guest speakers. And, don't skip a meeting because you think the presentation is of no interest to you. Topics are deceiving. Finally, subscribe and read photography magazines and books, and partner with another photographer whom you can learn from and share discussion. Every Top Gun needs a wingman.
  9. Go Digital - Now! Need I say more?

I"m looking forward to having a great year financially in 2004. You too? Then welcome aboard!