Underestimated Area: Photography
Most Underestimated Areas Series: #2 Photography
Many businesses out there are better than they look online. Many pride themselves on the quality of their work, but have to give discounts because they rely on cut-rate imagery to promote themselves. Pamela Vasquez, founder of Calipso Business Development, coined the term Image-led Marketing. It means adding monetary value to the market price of a product or service by making it pleasing to the eye. Whether you are an ecommerce retailer or a law firm, make sure that any photography or videography you produce reflects the value you want people to be prepared to spend. If you plan on charging 25% more than the going rate for your service, you need to look like it. When others have to discount their pricing to gain business, clients who see your quality imagery will most likely understand why you deserve the price you charge.
Pamela always asks "what are the defining aesthetic values of the client we want to attract?". Luxury brands in the fashion, tech, auto and travel industries know their demographics well. They hire pros to create idyllic images that fit nicely into their clients' dreams and aspirations. How well does your aesthetic fit the value system of your prospects? Do your images and videos have the stopping power needed to bring in the type of high-value opportunities you need to outperform your forecast?
This includes more than just hiring a professional for a one hour photo or video shoot. Professional-grade planning, coordination and preparation ahead of time and quality editing after the shoot make all the difference. Create value and protect your margins by maintaining a consistently high-quality aesthetic.
Small businesses and sales and marketing professionals stand to benefit from focusing more on these two neglected areas of business development. Take some time today to review where your business stands in these areas and reach out to professionals to make the improvements you need to boost your bottom-line.