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Home: Video University Forums: Wedding & Event Videography:
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Jenny
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Jan 7, 2005, 12:04 PM

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raider
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Jan 7, 2005, 12:20 PM

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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
this goes with all due respect because I'm sure your work is that valuable and I think the same of mine, but I would pay $8000 for a car but not a video of anything. 1) couldn't afford it 2) videos for the most part are homogeneous especially as viewed by customers. Heck, there's the robot that goes around taking pictures posted here a while back, wonder how much that runs? Kinda like trying to sell a candy bar for $50 because the chocolate comes from Europe. anyway - my opinion. I do think it's great that you're getting as much business as you do. more power to you!
~Brent




mmm...smells digital - don't you just love that new camera smell?


adtr
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Jan 7, 2005, 12:27 PM

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Doug
Enthusiast


Jan 7, 2005, 12:29 PM

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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
I say that a product is worth whatever an individual is willing to pay. If you sell your services for $8000 and your customer is happy then it is worth $8000!!

To me that is capitalism in work. And that is a good thing by the way.

Keep up the good work Jenny. I say you are doing nothing wrong!

doug

Doug
Wolf Hill Productions

Frankenstein never scared me....but marsupials do


raider
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Jan 7, 2005, 12:38 PM

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Re: [adtr] I do not charge a lot of money for my work. [In reply to] Can't Post
that's true adtr, but so do your competition - walmart's putting others out of business because of low prices. I can't honestly say that if there were no such thing as wedding videos in the world and I just came up with the idea right now that I would say "yeah, that's probably about $5000 for the basic package". I would value it more than photography however. And it is a good thing to do if you are targeting the high end bride - smart. get what you can from those that can pay. Ok - I'm starting to sway based on my own words - I have to raise my prices.
~Brent




mmm...smells digital - don't you just love that new camera smell?


Mathew
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Jan 7, 2005, 12:45 PM

Post #6 of 170 (5850 views)
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Re: [raider] I do not charge a lot of money for my work. [In reply to] Can't Post
 Yes if you want to be a wedding factory and appeal to a large portion of the potential wedding market then price is a major factor. That market is basically in the $1,000 zone plus or minus a couple hundred. For that market to profitable you must do volume and minimal editing. For most of us who have graduated to the next level of production, that is: 3-chip video cameras, wireless mics and cinematic style editing then we really need to not focus on price but selling ourselves as a boutique service. The costs of doing quality video production are just too high to be charging less than $2,000 for. The current economy actually is said to be very good for boutique style business so we should look at raising prices and putting how high quality work as a positive.


(This post was edited by Mathew on Jan 7, 2005, 12:50 PM)


Steven Hacker
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Jan 7, 2005, 12:51 PM

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Re: [raider] I do not charge a lot of money for my work. [In reply to] Can't Post
Raider, with all due respect to you, I wouldn't spend $8,000 on a car for the same reason that some clients wouldn't spend $2,000 on a video. Not because it's too much but because in their estimation it's too little. You can draw a parallel between Jenny's end product and a car. You're not going to find a new Jag for 8K but an 8K car still gets you where you want to go. They are both transportation but very different. I see video production the same way. And if the market conditions are ripe for an $8K video and the quality justifies it, more power to Jenny.
Steve Hacker



raider
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Jan 7, 2005, 12:52 PM

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Re: [Mathew] I do not charge a lot of money for my work. [In reply to] Can't Post
I do get the differentiation - there's more than one market. the government buys hammers for $200 a piece. if i were selling wedding videos to celebrities or lottery winners, my prices would be right up there with jenny! it's all about perceived value from three perspectives - customers, yours, and other videographers.
~Brent




mmm...smells digital - don't you just love that new camera smell?


Mathew
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Jan 7, 2005, 12:58 PM

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Re: [raider] I do not charge a lot of money for my work. [In reply to] Can't Post
Unsure

Yes but we're not talking about just Jenny. She indeed has priced herself in the "celebrity or lottery winner" category. However what about the crowd that drives BMW's or Escalades? They might be categorized as rich by you but there are quite a few out there and they have daughters getting married.


Jenny
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Jan 7, 2005, 1:08 PM

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Jenny
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Jan 7, 2005, 1:16 PM

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YoWoViPr
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Jan 7, 2005, 1:21 PM

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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
In Reply To
True, I would not buy an $8000 car, I just wouldn’t trust it. I just bought a new car and paid $36,000 for it. Many people buy new cars and appreciate and value them. Many people value art and preserving their weddings on video to enjoy for many years, not just rich people. They will pay more if they value it and recognize quality costs more. That is our job to educate and show them. Look at the people dropping $3000 to $5000 on a Plasma TV that has a life of maybe 5 years. Or look at the people that spend $5000 and more on a two week vacation. Our wedding movies will give them enjoyment the rest of their lives.
I agree... it all boils down to perceived value. It's what's important to them. Sure, the people dropping $5k on a plasma TV can afford it, but they are farther and fewer between than those who buy, say, a wide-screen LCD TV for $2-3k. The manager at a BestBuy will sell those $5k plasma TVs, but he/she will sell more of the other kind of TVs. But if you can get it, then go for it!

BTW, a $26000 car would suit me just fine! Wink


gl
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Jan 7, 2005, 1:28 PM

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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
This is a touchy subject but it seems to be good opportunity to differentiate something.

The main problem with an $8,000 wedding video is market support. This is not to say they are not worth $8k - some are. There are just not enough people with income that can handle it. Should they 2nd mortgage their home to do it? I wouldn't.

The other problem is that wedding videographers often compare their work to the corporate world or even broadcast and wonder why their is such a difference in valuation. The difference is that a corporation invests in a video with an expectation of some kind of return on the dollars spent - perhaps not directly but and investment for some kind of monetary dividend. A wedding video has no link to any monetary dividends - only emotional payback. Therefore the budgets are viewed differently and can be more justified.

In my view, the pricing issue with weddings is a put up or shutup problem. Either you charge what you want or need to make and hope you enough clientele to support it or you just get out of the biz and do something else.

gl


Jenny
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Jan 7, 2005, 1:34 PM

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adtr
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Jan 7, 2005, 1:38 PM

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JG
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Jan 7, 2005, 1:43 PM

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Re: [GL] I do not charge a lot of money for my work. [In reply to] Can't Post
"The main problem with an $8,000 wedding video is market support. This is not to say they are not worth $8k - some are. There are just not enough people with income that can handle it."

But apparently there are enough such folks that can spend that much on a photographer. Or a cake. or any number of things that go into a wedding.

why not video?

If the VX2000 had been available in the year 1890, what do you think they would have used to record a wedding? A still camera or the vx2000?

So why are modern brides still living in the 19th century?


Jenny
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Jan 7, 2005, 1:45 PM

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JG
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Jan 7, 2005, 1:45 PM

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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
Amen. A big reason why brides are stuck in the $1500 mindset is because videographers are.


Steven Hacker
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Jan 7, 2005, 1:50 PM

Post #19 of 170 (5673 views)
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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
What many on this board perhaps don't understanding is a simple rule most accountants preach- double your prices and lose half your clients. Same income, half the work (maybe). It's looking better all the time.

I am reminded of a cute story about a guy selling apples on the street corner. His sign read Apples $10,000 Each. A man walked up to him and said "you're not going to sell many apples for that much money." The apple seller replied "all I have to do is sell one."

Sure the client base in the $8K range is reduced. That's a fact of economics. But I am sure there is an ample supply.
Steve Hacker



DGates
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Jan 7, 2005, 2:03 PM

Post #20 of 170 (5645 views)
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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
You can be in denial about it, but the fact is you are charging alot.

Does that mean you shouldn't be? No. Does that mean you shouldn't raise your prices? No.

But it is what it is.

That being said, if you're happy, making money and have plenty of clients, that's what is really important.



"Nearly all men can stand adversity, but if you want to test a man's character, give him power."

--Abraham Lincoln


Jenny
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Jan 7, 2005, 2:08 PM

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Steven Hacker
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Jan 7, 2005, 2:24 PM

Post #22 of 170 (4034 views)
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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
The only thing you can't deny is that this post has probably run its course. No one's going to change their mind on this. Have a good weekend- if you're shooting, hope it's good. Got a gig Saturday night 7 to 11. Not bad.
Steve Hacker



Mathew
Veteran

Jan 7, 2005, 2:30 PM

Post #23 of 170 (4025 views)
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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
I just want to see equality in the marketplace for photographers and videographers. I don't believe either service is inherently more valuable than the other but the quality is. I think my work is as good as a few of the $3,000 photogs that I've worked with and feel that I probably put in similar hours and have similar amounts of equipment expenses. So my eventual goal is to hit $3,000 within the next season or two.


Todd L
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Jan 7, 2005, 2:48 PM

Post #24 of 170 (3999 views)
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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
In Reply To
I once had a bride and groom who had their wedding in a retirement home cafeteria. They couldn’t imagine paying my fees until they saw my work. They had a yard sale to earn the money. Their over all budget with the exception of video was probably $3000. I had another couple who had a modest wedding but wanted my services badly so they took a 3 week nanny job the month before their wedding in order to afford my video. I have many examples of low budget weddings that appreciate quality video and make sacrifices to have it.
Jenny,

First of all I want to say that if you can get $8K then all the power to you. I mean that.

What I think you and some of the others here are forgetting is the difference in regional values. If I am not mistaken, you are in the Washington DC area. Not exactly a town known for its reasonable cost of living. I however live in Southern Indiana where $50K a year is considered a very good job and you can get a nice home for $150K. If I charged $8K for a video, I would NEVER book a single video.

Your quote above was very telling. Most people around here would make $250-$500 from a yard sale and be thrilled. $8K for a three week nanny job is $2666.00 a week or $136K a year. For that kind of money, I will give up video and let kids puke on me all day long.

Everyone in Boston, LA, Manhattan, San Francisco, and Washington DC, to name a few cannot relate to Middle America.


Doughnuts.......Is there nothing they can't do?


alanm
Enthusiast


Jan 7, 2005, 3:03 PM

Post #25 of 170 (3984 views)
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Re: [Jenny] I do not charge a lot of money for my work. [In reply to] Can't Post
Everything is relative int this life, and if you're able to charge what you charge and get it, I think it's great.... You are apparently targeting the very "high end" client. I've actually worked at weddings were the florist bill exceeded $25,000.00, the cake was $1,500.00, and Photography was five figures. There are clients who are willing to spend almost any amount to get what they want..... Let's face it!! there are people with alot of money out there......

Jen, if you are charging $8000.00 and clients are willing to pay it... then that's what your services are worth. I know I am constantly trying to push my prices up to see what people are willing to pay. We all should be doing that! I know I'm a long way from a $8000.00 video but I am constantly trying to raise the bar. There is no reason why we should charge less than what photographers are charging. Jen, I would still love to see some of your work sometime.







a closed mind is a terrible thing to waste

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