A nice read on 'selling yourself short' here on Pond5
prmusic
11 Mar 2016 00:43
https://www.linkedin.com/pulse/20141024173847-245968790-attention-pond5-artists-you-re-selling-yourselves-short
RekindlePhoto
11 Mar 2016 01:51
We've been saying this for years. Other agencies sell high volume HD clips for a minimum of $79 and many sell for upwards of $500. Cheap prices give impression of cheap quality. Perception is reality.
JHDT_Productions
11 Mar 2016 01:53
Well he does say he is a fiction writer......
I don't see a BlinnSFX on Pond5 by the way, but sure would like to see that he practices what he preaches.
I don't see a BlinnSFX on Pond5 by the way, but sure would like to see that he practices what he preaches.
LivingroomClassics
11 Mar 2016 07:38
i read this some time ago.
i price sfx at $10. would encourage others to do similarly, sales do occur.
at the time i set the price, i had just a few sfx (meaning, compared to now) and i noticed
that at $10 they sold the same if not better than for example at $5-6.
maybe my statistics wasn't relevant, but i then concluded it's better to price higher
and so far i'm ok with it. been selling them at $10 for more than a year.
i price sfx at $10. would encourage others to do similarly, sales do occur.
at the time i set the price, i had just a few sfx (meaning, compared to now) and i noticed
that at $10 they sold the same if not better than for example at $5-6.
maybe my statistics wasn't relevant, but i then concluded it's better to price higher
and so far i'm ok with it. been selling them at $10 for more than a year.
RekindlePhoto
11 Mar 2016 14:39
There is no way $10 covers production cost, computer, storage, internet, electricity let alone labor. Most products sell a couple of times. Believing that most products will sell dozens of times is fallacy. Really need to look at covering costs, labor and profit on the second sale and then everything above that is investment income.
LivingroomClassics
11 Mar 2016 15:53
yes it depends on number of sales. if you think in terms of recovering costs...then you never get to start.
it takes a long time to recover costs. and if you only do this, and not another job, then the payment you would have had by doing that potential other job can also be considered as costs, money you lost...
still, 10 bucks is above average here and i think it's not a low price, considering most have them at 2.5-3.5
it takes a long time to recover costs. and if you only do this, and not another job, then the payment you would have had by doing that potential other job can also be considered as costs, money you lost...
still, 10 bucks is above average here and i think it's not a low price, considering most have them at 2.5-3.5
mainstreammusic
23 Mar 2016 14:06
I agree with LivingroomClassics....there is another POV you have not considered.
For those of us creating content for our clients by using "more affordable" footage from P5, instead of using extremely high cost footage from Getty Images, allows us to create highend projects for a fraction of the cost. Lower costs for me equals a higher profit margin. That's why I shop here!! You are only considering one side of the equation.
I think that because P5 offers high quality footage at reasonable rates is a huge boost to my overall business. Keeping my business moving forward, and that is what it's all about.
For those of us creating content for our clients by using "more affordable" footage from P5, instead of using extremely high cost footage from Getty Images, allows us to create highend projects for a fraction of the cost. Lower costs for me equals a higher profit margin. That's why I shop here!! You are only considering one side of the equation.
I think that because P5 offers high quality footage at reasonable rates is a huge boost to my overall business. Keeping my business moving forward, and that is what it's all about.
dapoopta
23 Mar 2016 18:15
a 1 time $10 sale of a clip or sfx will not cover the cost, you are going for volume. I'm not pricing my clips assuming they will sell 1 time... I actually assume they will never sell :-P
It's a volume game. It's the same reason people still sell photos at 38 cents a piece. I don't like to pretend I didn't start at that point where making $3 a month was AWESOME! I think we all sort of did. Then we realized how the game works, and how we were undervaluing our product, grew up, and changed our selling patterns. But if I told myself what to do in the beginning and said 'price high, it will sell', it would be hard to convince the old me to do it that way. Why? Well, mainly because I wanted to see sales. I didn't care if it was 10 cents or $10. I just wanted to know my product had value in the market and that someone wanted it.
Now things have changed and I consider myself lucky to have a large portfolio that makes me enough money to support the hobby. But going back to my original point, I shoot what I love and I assume it won't sell. I guess I get lucky sometimes and my little art creations are what someone needs for their production, but the value I had and the experience I made creating it are worth it for me. Call me a starving artist!
Why do I sell at the price point I am at ($149 4k, $69 HD)? I'm not really sure right now. I think that's my sweet spot and seems to make the most money for my content. I've tried various alternative pricing structures with not a lot of noticeable success or failure. It's so hard to see market trends when you own 0.002% of the library.
It's a volume game. It's the same reason people still sell photos at 38 cents a piece. I don't like to pretend I didn't start at that point where making $3 a month was AWESOME! I think we all sort of did. Then we realized how the game works, and how we were undervaluing our product, grew up, and changed our selling patterns. But if I told myself what to do in the beginning and said 'price high, it will sell', it would be hard to convince the old me to do it that way. Why? Well, mainly because I wanted to see sales. I didn't care if it was 10 cents or $10. I just wanted to know my product had value in the market and that someone wanted it.
Now things have changed and I consider myself lucky to have a large portfolio that makes me enough money to support the hobby. But going back to my original point, I shoot what I love and I assume it won't sell. I guess I get lucky sometimes and my little art creations are what someone needs for their production, but the value I had and the experience I made creating it are worth it for me. Call me a starving artist!
Why do I sell at the price point I am at ($149 4k, $69 HD)? I'm not really sure right now. I think that's my sweet spot and seems to make the most money for my content. I've tried various alternative pricing structures with not a lot of noticeable success or failure. It's so hard to see market trends when you own 0.002% of the library.
RekindlePhoto
24 Mar 2016 01:52
We need a "like" button in the "new" forum. Well said Scott. LIKE
DogPhonics
27 Mar 2016 17:09
Voodoo price-a-nomics. The writer guy is a PR student. He has a blog. He says what we have all heard ridiculously propounded w/o any evidence. Lay a high price atop a clip, shake homeopathicly, and our buyers will somehow perceive it as better and chunk down the money - as "perception is reality". Maybe with designer handbags but not with vast comparable video clips competing side by side. Opinion, and a far fetched one too. No way to prove you wrong, but this is not evidence of being right. It's just opinion supporting opinion. We need some real math - but we don't have the access.