View Full Version : Market Strategy
Tom Sessions November 4th, 2008, 11:18 PM Well, now that the U.S. will have a Liberal Democrat for president and the house and senate are bleeding blue, what will be your strategy in the years to follow?
Will your prices go up, down, will you quit the business, or go underground and not report your income...i.e. go cash only?
Will they have to "pry your video camera from your cold dead hands"?
Dave Stern November 5th, 2008, 12:39 AM DV Info Net Network Policy (http://www.dvinfo.net/network/policy.php)
Tom Sessions November 5th, 2008, 08:23 AM Dave, I'm not wanting this to turn into an ideological discussion. I'm simply stating a fact, and with that, what is your business plan? Does anyone anticipate economic issues that changes your game?
Nathan Nazeck November 5th, 2008, 10:33 AM I've always viewed this industry as somewhat recession proof, however, since video is not yet considered a necessity in a lot of Bride's minds it might be the first thing to go. I've yet to see a slide off and we've had a pretty bad economy for the past year or two. We are still growing so I'm encouraged that we will at least maintain what we've been doing and maybe continue to grow. Hopefully the ever falling ceiling on who is considered "rich" won't drop to my level too quickly.
Shaun Conner November 5th, 2008, 02:29 PM Well, now that the U.S. will have a Liberal Democrat for president and the house and senate are bleeding blue, what will be your strategy in the years to follow?
Will your prices go up, down, will you quit the business, or go underground and not report your income...i.e. go cash only?
Will they have to "pry your video camera from your cold dead hands"?
I don't know if having a democrat as president will change anything, but I don't foresee any changes to what we do and the amount of people we book. Maybe taxes will change that, but I seriously doubt that.
Travis Cossel November 5th, 2008, 02:43 PM The way I see it, if taxes go up on small businesses .. I'm just going to have to raise my rates and hope that works.
Dawn Brennan November 5th, 2008, 03:16 PM I don't have any changes in mind at this point. I will book weddings... go to work... deliver a quality product and if things change around me, I'll be forced to adapt.
Tim Harjo November 5th, 2008, 05:32 PM I'd like to see this topic go away.
Andrew Waite November 5th, 2008, 06:27 PM I'm with Nathan, no matter how bad things get, or what happens to the economy... people will still get married! And, a lot of those people (I think) will still be willing to go into debt for their wedding. Yes, as videographers we are pretty low on the totem poll of priorities with most brides, but there will always be the few that got to have it all! Really, we haven't noticed any difference in our earnings since the economy started to slip, if anything it's continued to get better and better. So I'm very optimistic about the future, because if it's this good now, it's can only get better when and if the economy improves, right?
Travis Cossel November 5th, 2008, 06:59 PM To be honest, I think a lot of the problem with the economy is that people are constantly being told that the economy is bad (media, etc.). I'm not saying there aren't problems, but when people cancel orders or bookings or whatever, and the excuse is .. well, we're just not sure what the economy is going to do .. it's silly. If everyone starts panicking and stops spending money, then we'll actually be in real trouble.
Tripp Woelfel November 5th, 2008, 07:16 PM I'm not saying there aren't problems, but when people cancel orders or bookings or whatever, and the excuse is .. well, we're just not sure what the economy is going to do .. it's silly. If everyone starts panicking and stops spending money, then we'll actually be in real trouble.
We are in real trouble, and you're right. The more people panic, the worse it can get. It's bad now. Lehman, WAMU and the country of Iceland's government banking have collapsed. Will it get worse or better? People acres smarter than I are debating that now. Answers are all over the map.
In times like this, people cut back discretionary spending because it's the right thing to do. Better that than running out of cash for food or housing.
The challenge for us, and I think the topic of this thread summarizes it well, is how we will/can/should adjust our marketing strategy to safely traverse the current economic terrain. I, for one, would be keen to know how others who do this for a living plan to adjust their business model. I prefer not to have to get a job where a key phrase is, "Can I supersize that for you for another 49 cents?"
Warren Kawamoto November 6th, 2008, 03:07 AM We need to educate all brides that video is more important than photography. It's far more valuable in terms of what they pay for and what they get, especially in tough economic times.
Tripp Woelfel November 6th, 2008, 01:26 PM We need to educate all brides that video is more important than photography. It's far more valuable in terms of what they pay for and what they get, especially in tough economic times.
I think we'd all agree the value in video is higher than photography, but convincing brides that video is better might be like herding cats.
Here's a thought. Partnering with a still photog and coming up with a package price for both. I know that some already do this.
Carl Wilky November 6th, 2008, 03:26 PM I think we'd all agree the value in video is higher than photography, but convincing brides that video is better might be like herding cats.
It sure isn't an easy task but it aint imposible, Heck these guys have managed to do, so why couldn't we.
Video is better than photo (http://www.spike.com/video/cat-herding/2666557)
Travis Cossel November 6th, 2008, 04:03 PM I think we'd all agree the value in video is higher than photography ...
I have to disagree with you here .. I think the value of either depends totally on the individual in question. Some people actually get more emotional return from still images, and less from moving images. I just think we should be careful about trying to say one is a better value than the other, because they are really two different mediums.
It would be like trying to saying painting is better than sculpture.
Tripp Woelfel November 6th, 2008, 04:38 PM I was only saying that we'd agree that video has a higher value. The comment was somewhat tongue in cheek. (grin)
I still contend that bundling photo and video has potential. An n% discount on the dual package might get people over the wall.
Travis Cossel November 6th, 2008, 04:59 PM Well, I still disagree, since I personally view both mediums as totally different .. and neither of them is more valuable than the other in my mind. But regardless, it's no big deal.
William Smyth November 6th, 2008, 05:15 PM The fact is we're in the one the worst economic downturns the recent history, if you're not already thinking about how your business is going to be affected, you're not paying attention.
Andrew Waite November 6th, 2008, 08:23 PM I'm with you Travis, it comes down to this.... your house is on fire, you're naturally going to grab the photo albums... not sift through your dvd collection looking for your wedding video. I mean, that's just me. Maybe it's different for wedding videographers. After all, it's the wedding picture that's going to hang over the mantle.
However, with that said, I feel video can evoke emotion more than a still picture. Good video that is.
Warren Kawamoto November 6th, 2008, 09:58 PM When you watch a wedding dvd, you get to relive the day. You'll hear and see what happened. With photography, you only see a brief glimpse of a kiss, dance, etc. but you can't relive it like video. Yes, they are two totally different mediums but considering that photography commands a price almost twice as much as video, video has more value PER DOLLAR.
This opinion is not mine, it's from brides I talk with many months after the wedding is over and done with:)
If only they had known this BEFORE the wedding.....
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