How much should i charge for a wedding video coverage?

Question

I'm just starting this business. I'm a film school graduate (University of the Philippines film institute) I've been doing documentaries as a profession for over 8 years now. my gear is a 3ccd camera panasonic AG-dvc20, boom mic, wireless lapel, and wide lens adaptor. how much should I charge for a whole day of filming a wedding and delivering in edited dvd with custom menus? Im from the Philippines and I am targetting the middle classes engaged couples.

Answer 1

I am a wedding videographer also.  Since you live in a different part of the world, I will answer in general terms and percentages.  If you are just starting out, you will probably want to offer several of your first customers a deep discount in order to establish your style and create "demonstration" videos to show future customers.  During these initial weddings, make sure to really pour on the service and customer relations in order to make a great impression.  These first customers may become your "references" when you are seeking new customers.

I have tried to position myself in about the 30 to 40 percentile of the market prices for my area.  That way I can appeal to those looking to save money, but also price myself above the bargain hunters that will cause you a lot of grief.  Ultimately you must deliver a product equal to your pricing level or your customers will be unhappy and your business will fail.  If you are still learning or are still developing your style, you probably want to keep your price fairly low.  This is refered to as "bottom feeding" and you will attract lots of customers who can not afford the higher prices.

Once you have established your expertise in the art of wedding videography, the price point becomes more of a philosophy than an actual indication of the value of your services.  Many wedding vendors believe the higher the price, the more business they get because they believe people think a higher price indicates a higher quality.  A lot of this will depend on your salesmanship.  If you are able to convince a customer that your are worth the price, then you will be able to charge a higher price.

Some people I know will try to "qualify" potential customers during the initial conversation in order to judge how much they are willing to pay.  Then they will charge accordingly.  They will ask questions like, "what is your total wedding budget?", and "what is your occupation".  As you might expect this type of questioning requires a lot of skill so not to offend a potential customer.  This technique can generate much more income, but can also lead to confusion with referal customers, who are expecting similar pricing as their friends.

Just for reference, I charge $850 for a one camera wedding.  The high end of my market probably charges $2000 for the same with not a lot of difference in the product.