Sticking to your rates

Blade Borge

Blade Borge

Well-known member
Forgive me DVXUSER, for I am tempted...

I'm tempted not to stick to my rates. When work is slow I think, sure that budget isn't half of what I'd charge, but think of what cool stuff I could buy for a real shoot.


Or...

if I stick to my rates, I might not see work til 6 months from now.

I'm not established enough/good enough to charge standard rates.

I wasn't going to be making money that day anyway, so why not?

Or...

I'm so edgy to shoot something, my skills are going to be dulled if I wait around.


BUT...

If I charge peanuts, I won't be respected and I'll be known as the cheap guy.

I'll undercut and undermine professionals in my area by allowing clients to not pay us what we're worth.



Sigh...

-26 year old post film major, intermediate experience
 
I believe that your rates are correct, whatever they are, when most of your clients think so. This includes zero, as in what I normally get paid as an actor. If and when I get good/successful enough to demand real pay as an actor on a consistent basis, then I will, and my clients will happily give it to me: I deliver something genuinely worth paying for, they pay. Simple.

As for a situation like yours, when (evidently) you *do* generally get paid, then I think the formula goes something like this: if 10% of potential clients think your rates are too high, 10% think they're too low (and yes, in my regular gig as a recording engineer, I do get told that, about that often), and the rest are fine with what you charge, then your rates are correct.

And you should stick to them...

The only exceptions I would make for this are projects you really, really, really, want to do, generally because they're either:

1. Really, really, really creatively interesting, or:
2. Really, really, really great opportunities to meet really, really, really great people who can really, really, really be helpful to your career.

But *not* because you need the money.
I repeat: *not* because you need the money.

Unless you're really, really, really desperate.

My $.02, from decades of dealing with this very thing thousands of times...
 
I agree with Ted, though perhaps a few less "reallys".

It's a difficult call. In this economy sometimes you have to be flexible to pay
the rent or mortgage. You don't want to set a precident, but you do want to eat.

After my son was born this year, and I lost out on 2 bids, I stated to question
my rates. Should I lower them? Is it better to make $500 for a day's work than nothing?

Luckly I haven't had to do it yet, as things have been quite steady since.

My advice would be rather than lowering your rates (which does set a precident), it's
better to volunteer part of your time. Here's an example.

A client wants you for 3 days. Your rate is $750 per day. They only have $1,500
Rather than lower your rate to $500.00, you can tell them that you understand their
budget concerns and are willing to come in an extra day at no extra charge. This
makes it look like your doing them a favour, rather than undervaluing your services.

That's my 1.79 cents (adjusted for the Canadian exchange rate)

Peter
 
I would have work if I accepted $150 to do weddings. But I insist on charging at least $995 for weddings, so I haven't seen any wedding work since 2007.
 
I think it really just does come down to what the market will bear. When you're busy and everyone is busy, then guess what? You can charge at the higher end of the range (or beyond). When times are tough, then you still stick to some semblance of principles but offer something reasonable without appearing to be desperate.

If you just discount your rates a lot or work just to work, then you will become known as the guy who is "that guy we can get when we don't have much money," while the other guys get hired when they do have money.

.
 
basspig said:
I would have work if I accepted $150 to do weddings. But I insist on charging at least $995 for weddings, so I haven't seen any wedding work since 2007.
Click to expand...

There are times when you do have to walk away. I can't imagine shooting
a wedding for $150. Wedding photography usually costs $750 minimum.
Do you know what other local companies are charging in your area? They
usual post their "package" rates on thier website.

If wedding videography is your thing, but the market simply isn't educated
on the value of the work, you might consider teaming up with a local
wedding photographer and offering a package deal (photo + video). This
way, you get the benefit of their experience and clients without stepping
on anyones toes.

Just a thought.

Peter
 
Do not lower your rates. If you do anything, raise them and advertise it. All you need is a reason to promote and a rate change is a fine reason to do it. Celebrate the rate change on mailers then call each of your best clients and explain they still get your older rate as a buddy deal. You are then top of mind with them, new to minds who were not aware of you, and not bitter about working more for less.
 
I could not imagine shooting one for $150 either. But there are college kids with $129 Flip cameras out there doing it for $100 and less and the pros are dipping as low as $695 for a wedding, in a survey of their web site price listings. Many of the established places are still doing a wedding a week. But I've only been officially in business less than five years, so I've not built up a stable of clients yet, like these guys doing it since 1982.

I'm trying a different strategy now: catering only to very high end clients. I'm offering a theatrical wedding movie. I'm advertizing to people who are spending $200K and up on their daughter's wedding. What we'll produce is a multicamera shoot with multiple wireless mics on key guests, recording dialogue like a movie about the B&G. The whole thing will look like a drama film, complete with graceful jib shots, dolly shots and plenty of closeups of guests discussing at their tables, with audio, just like in a movie. I'm pricing that sort of production at $19,995. So far, no takers, but it only takes that first one!
 
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