Don't Devalue Yourself: How to Triple Your Price w/John Moler
May 22, 2024
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John Moler, a Colorado wedding photographer, talks about how he tripled his rates by refining his brand and proposal, not by lowering prices. He discusses the importance of valuing oneself, simplifying offerings, and attracting luxury clients. The podcast explores strategies for business growth, networking in the wedding industry, and the mindset shift needed to increase prices in the luxury market.
Increase prices by refining brand instead of offering discounts.
Focus on networking and personalized service to attract luxury clients.
Deep dives
Incremental Price Increases and Value-Based Offerings
John Moller, a wedding photographer, shares his strategy of gradually increasing prices, starting with a modest $2,000 raise initially. He realized the importance of valuing his work and not devaluing himself by offering discounts. By focusing on personalized service instead of package deals, he successfully tripled his prices over the course of a year, aligning his brand and services with the luxury market.
Effective Networking and Business Growth
John emphasizes the role of networking in his business growth, citing participation in local events like WIPA as beneficial. He highlights the power of in-person interactions over cold emails, sharing his experience of establishing relationships within the industry. By attending networking events, he enhanced his brand visibility and cultivated meaningful connections.
Strategic Website Optimization for Client Engagement
John underscores the significance of concise and targeted website copy, noting that lengthy descriptions can deter potential clients. He explains how streamlining his website content and revamping his logo helped create a more cohesive brand image. Collaborating with a planner to curate his website visuals, John focused on showcasing his work effectively to attract luxury clients.
Mindset Shift Towards Self-Value and Business Growth
Notable growth in John's business stemmed from a mindset shift towards valuing his own worth and services. He shares how overcoming fears of raising prices and offering added value transformed his business trajectory. This change led to a significant increase in bookings and revenue, highlighting the impact of self-belief and strategic business decisions.
Offer a discount, drop your rates, or put more into the package - this is what most people will do when they want to get more business. The problem is, in doing this, you’re devaluing yourself in the eyes of the client, which works against you in luxury.
The secret to raising your rates is actually refining your brand and elevating your proposal which means eliminating elements. Instead of incentivizing clients by lowering your price or stuffing your offering, you get them to spend by valuing yourself more.
What are some of the things we need to refine or even eliminate? How can you make big leaps in business through small increments? What are the secrets to getting more luxury clients? In this episode, we’re joined by Colorado photographer, John Moler. He shares how he tripled his price tag by simplifying everything he does.
Guest Bio
John Moler is a Colorado wedding photographer with a timeless, true-to-life style. He approaches each wedding with a sense of calm curiosity, noticing and capturing details people will remember forever. Go to https://johnmoler.com/ and follow @johnmolerphoto on Instagram.
Want a clear and comprehensive roadmap on how to succeed in the luxury wedding market? Check out the Business of Luxury Weddings course. You’ll learn the entire business model and thought process - so you can sign consistent 5-figure contracts, build a powerful network of the right people, and travel to iconic destinations. Learn more and join the waitlist at SageJourney.co.
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