Room Show Notes
Room Show Notes
💡 Today’s topic: Building Successful Collections
4 Collection Framework:
- Base collection (bare minimum)
- What most get (leave something to be desired)
- What most want (don’t feel like they’re compromising)
- WOW (throw in unnecessary extras) *** This is important for price anchoring!
Process for building your 4 Collection Framework:
- Start with an a-la-carte list of all your services (now you know all your menu items)
- You take all these options and increase the price by 15% (so when you apply a discount, you’re not losing out)
- Collection 1 – 0% discount
- Collection 2 – 15% discount
- Collection 3 – 20% discount
- Collection 4 – 20% discount
🔑 Key Takeaways
- Get-Give Principal: value vs price
- Price anchoring: gives context or a frame for your clients
- Helps photographers effectively communicate their offering to potential clients (as they’re shopping for a photographer online)
💬 Room Discussions & Questions
- “With a custom quote process – what would you do with the discount strategy (0, 15, 20, 20 %)
- The discount (0, 15, 20, 20 %) strategy is a good starting point. With custom packages, I would see where it would fall into that collection spectrum.
- “Is this strategy just in-person sales or do you present this on your website, brochures, etc.?
- The 4 Collection framework is just as applicable online as in-person.
- This strategy is actually more important online because in-person, you can walk them through it, but clients are doing the mental math
- “With the current pandemic, we have a smaller package (no one is really looking for long hours of coverage), should we be promoting this?
- Totally! Right now, you have your empathy hat on and clients are going to appreciate this. By acknowledging this, the space clients are in right now, introduces that human element that you care for them!
- People buy from people they know and trust! Having empathy is a huge relationship builder!
- “Is there a difference between the term collection or packages?”
- Packages don’t sound appropriate – it doesn’t feel high-end, luxury
- Collections sounds more bespoke, custom, elegant
🗓 Next Week’s Topic:
- The Power of Terminology – Marketing your language!
🔗 Room References
- 🌱 Sprout Studio Feature Timeline page – Welcome to Sproutland! Check out what we’ve been building!
- 🌱 Sprout Studio Concierge page – Get migrated into Sprout
- 🌱 Sprout Studio Terminology Roadmap page – Learn the Sprout lingo
- 🎙 Business of Photography podcast
👋 Follow Bryan, Nathan, and Sprout
(Friday) 11:00 am - 12:30 pm(GMT-04:00) View in my time
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