easy way out
I think too many photographers are taking the easy way out and just lowering prices. I think in a time like this, the important thing to do is convince the customer that they NEED to buy your product. If you cant do that with your current customers, start looking in a different area. Spend some money on advertising to higher end clients (if your work is good enough).
If you aren't confident enough to market yourself as a necessity, you should probably not be in business for yourself. There are SO many people out there who take great photos and have a nice camera. That doesn't mean all those people can handle the business side of being a professional photographer. If you're afraid of business, go to work for another photographer who isn't and you'll be making more money anyway.
There are still PLENTY of people who are willing to pay a premium for amazing products.
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