Download to read offline
Put More Business in Your Photo Business
- 1. JUNE 2011 PUT MOREBUSINESS IN YOUR PHOTO BUSINESS Lessons from an internet entrepreneur
- 2. Who are you? • My stock business is declining, what should I do? • I’d like to start making money from photography • I’m shooting editorial, and I’d like to do more commercial work • I lost my staff job, and need to go freelance P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 2
- 3. Think about marketopportunity • Instead of freaking out, think about where growth opportunity exists • You might be in the wrong geography • You might photograph the wrong stuff • Shift your business to seize opportunity P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 3
- 4. The winds ofchange • Change is scary • e industry won’t cease to exist • We don’t know where we’ll end up • Buckle down and focus P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 4
- 5. Lesson 1: Yourbusiness is not scaleable • Internet companies can scale • Your business cannot • So your time is very valuable • Strive for a better ROI over time P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 5
- 6. Lesson 1b: Youneed a budget • How much money do you want to make? • What’s your cost of doing business? • Plan on growing your business because if you don’t, the competition will eat your lunch P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 6
- 7. Greg Smith onthe CODB P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 7
- 8. Lesson 2: Marketingdrives sales If only I had ________, I’d be more successful. P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 8
- 9. Create a marketingplan List your marketing activities • Approximate cost for each initiative (time & money) • Best guess for return on investment For example: • Direct mail, $3000 cost; 100 hours, $10k new business • iPad portfolio, $1250 cost; 50 hours, $5k new business • Quarterly coupons, $0; 4 hours, $4k new business • Facebook, $0; 5 hours per week, $500 new business • Twitter, $0; 5 hours per week, $300 new business P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 9
- 10. Lesson 2: Marketingdrives sales Determine your “costs” to objectively determine whether your marketing initiatives are worth it. P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 10
- 11. Lesson 3: Stopre-inventing the wheel Use tried and true marketing techniques to achieve success P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 11
- 12. Lesson 3a: Yourwebsite is a marketing tool • Not an online portfolio • Does it meet the needs of: • e audience you have • e audience you want • Features to consider: ✓ Searchable ✓ E-commerce ✓ Portfolio ✓ Private galleries ✓ High resolution le transfer ✓ Mobile & SEO friendly (i.e. no Flash) ✓ Social Media tools P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 12
- 13. Lesson 3b: Yourwebsite is a marketing tool Getting people to your website is hard work. Convert them while you have them captive! P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 13
- 14. P H OT O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 14
- 15. Text P HO T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 15
- 16. Connect P HO T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 16
- 17. Everyone loves acoupon P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 17
- 18. Lesson 3b: Testyour pricing Pricing is arbitrary and elastic. Take advantage of that fact. P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 18
- 19. Lesson 5: Wordof mouth is potent Engage your audience where they congregate. Make an effort to understand their needs. P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 19
- 20. P H OT O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 20
- 21. CPOY 2007: TravisDove P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 21
- 22. CPOY 2008: TimHussin P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 22
- 23. To do list • Are you in the right place doing the right type of photography? • Create a nancial forecast • Create a marketing plan to support growth within your forecast • Make sure your website is built for your audience, not you • Use known techniques for driving growth P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 23
- 24. Social experiment •Create a blog entry, tweet or wall post • megmckinneyphotos.com Birmingham editorial photographer • chenxphoto.com Maryland editorial photographer P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 24
- 25. Get more info photoshelter.com/mkt/research P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 25
- 26. Connect with PhotoShelter blog.photoshelter.com facebook.com/photoshelter @photoshelter vimeo.com/photoshelter P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 26
- 27. NPPA Discount onPhotoShelter • photoshelter.com/signup • Enter coupon code: NPPABIZ611 • Discounts off Standard & Pro Annual Plans. Save up to $70/year off our regular Monthly Pro Account. P H O T O S H E LT E R | P U T M O R E B U S I N E S S I N Y O U R P H O T O B U S I N E S S 27