just summarize a conclusion from the paper – www.savvyessaywriters.net
just summarize a conclusion from the paper – www.savvyessaywriters.net
Purpose
The purpose of this report is two-fold: to establish credibility with both an online gallery and printed portfolio; and identify products to grow product photography revenues. This information will assist in discovering new sources to enter the product photography market and gaining a national presence.
Scope and Methods
The scope of this report is to provide specific information regarding the benefits of creating a portfolio that is tangible and adds depth to customers, along with ideas for identifying different products to help enter the market and grow revenues.
The team used secondary sources which include google search engine sources. Key words used in the google search engine were “pros and cons of photography tangible portfolios,†“photography portfolios pros and cons,†“pros and cons of an online portfolio†“how to market product photography,†“facts about real estate photography,†“how to get product photography customers,†“local magazines,†“statistics on real estate photography,†and “establishing a national presenceâ€.
Limitations
The limitations the researchers came across while researching the formal report was mainly to the lack of primary sources. The research members individually focused on their sections assigned to them due to busy schedules and other obligations.
Preview
This report includes four topics which will provide Melissa Baines with information concerning sources of marketing, ways to grow revenue streams, photography portfolios, and portfolio composition.
SOURCES FOR MARKETING
To grow their revenues in photography as they enter the national market MBainesGDP should consider different marketing strategies such as online marketing. Online marketing would increase their target population as they go into national expansion. MBainesGDP should consider putting to use online platforms such Amazon, e bay and other nationwide platforms to reach customers in every part of the country (Junhong). They can also apply the use of sites such as 500px prime and smug pro to sell their photos, and by doing so, MBainesGDP would increase their revenue and also have a break into the nationwide market.
Networking
Other sources to enter the product photography market is by networking and attending trade shows. Networking events are held locally and can be found at www.meetup.com. This website provides business owners the ability to locate nearby networking events. These events will allow MBainesGDP the opportunity to meet with business owners in the area that may need catalogs, brochures, logos or product photography. Creating a product photography portfolio will be a great tool for gaining customers at networking events.
Package Deals
Online Marketing
Growing Revenue Streams
TARGET PRODUCTS
MBainesGDP should target businesses who need to make the consumer buy from the picture. Melissa should identify types of products that allow her to offer a unique technique. Researching companies with large product ranges that will need regular product photography are key markets.
Real Estate Photography
Real estate photography is all about selling the picture first. According to Richmond real estate, “85% of home buyers want to see professional photographs†and “potential buyers spend 60% of their time looking at the photosâ€. There are many freelance positions for real estate photography in the local area and will allow for MBainesGDP to build expertise. Real estate can be found in all areas and generate a revenue for where ever the company is located.
Local magazines
MBainesGDP should target local trade magazines to grow revenue. By producing high quality photos of the products that are advertised in the magazine, MBainesGDP can enter the market and gain clientele. Identifying the companies whose products are in the magazines can help with establish a network of professionals that MBainesGDP can work with.
Selling Time/Expertise
Successful photographers have more than two streams of income. Five possible income streams include sellings use rights, selling time, selling products, selling rarity, and securing funding. Two income streams that I would focus on concerning your business would be selling use rights/royalties and selling time/expertise. Commissions and assignments can bring in a variety of income. Assignments can vary extensively, which would be a plus since you love to travel. In South Africa a large number of semi-skilled photographers earn their living on weekends doing private functions, weddings, and funerals (Larsen). Taking on commercial assignments for multinational companies or editorial assignments for international publications. Running training courses for students allows greater recognition and branding. Investing in machinery to print products would be ideal. Selling time/expertise would allow you to venture into commissions from private, editorial, and commercial assignments. Photographic services such as digitisation, retouching, printing, and publishing allows others to see you as more than just a photographer who is great with weddings and families.
Selling Use Rights/Royalties
According to research, because of the digital and internet era, the transfer of images to users anywhere in the world within seconds possible (Larsen). Selling use rights will maximize on the digital aspect of your business. MBainesGDP will open itself up to editorial and commercials jobs. As mentioned before, commercial assignments broaden the business to an international level. One also does not have to worry about time consumption when dealing with use rights because the same photograph can be used multiple times to make ongoing sales. The library of images a photographer has should be consistently added to. The website for MBainesGDP has one image of a beach. The southern market that MBainesGDP is located in has a high demand for images of the beach. Rental properties could utilize these images generated by MBainesGDP for their photo gallery as well as hotels. The stock of quality images would ideally be in the thousands to give a company options and to show the consistency of MBainesGDP. Expansion into selling use rights and royalties will create a steady income stream that will generate income for years to come.
PHOTOGRAPHY PORTFOLIO
Business portfolios are essential in any business whether a starting business or an already developed business. Business portfolios describe what a company can offer to its customers and potential customers. Any business portfolio should be short and precise highlighting the key points a company can provide, the choice on whether to use digital or print portfolio will always lie on the target customers. Considering MBainesGDP case both digital and print portfolio could work in favor of their claim of establishing a national presence. The main advantage with print portfolios lies in the final impression that it creates. Print portfolios will always bring up a sense of physical connection and a sense of ownership when presented; this is unlike digital where you cannot hand your portfolio to your customers.
With a print portfolio, one is always assured that it will have depth, as it brings in factors that involve senses of a person such as touch and even smell. These two factors will always come to play when it comes to remembering (Blake). Since MBainesGDP wants to establish a national presence, they will need to have all the people that they have given out their portfolios to remembering them. Another primary reason for MBainesGDP to consider print portfolios is that when it comes to context print portfolios will never lose their intended purpose. Take for example portfolios that may involve large and even small size designs when turned to digital portfolios will mean that we ignore the scale factor.
However as much as one may want to use print portfolio, we cannot ignore the advantages that digital portfolio come with. First foremost when we are looking at things that are digital what comes to mind is speed and convenience and so as is with the case of using digital portfolios. For MBainesGDP digital portfolios would be a great way of establishing a national presence especially at this current time and age of emails and many other social media platforms (Blake). They can also be assured of guaranteed feedback and reviews from their customers. Due to the flexibility of being online, you are able to show more of your personality through the website. Considering that MBainesGDP plans to go nationally, they should consider the overall cost that they will incur with the use of digital portfolios as they are bound to use less money.According to Roberto Blake, the estimated printed portfolio cost is $1800 while the profit is $3200. For a digital portfolio, the estimated cost is $0-500 while the profit can be $4500-5000 (Print Portfolio vs. Digital Portfolio: A Designer’s Dilemma, 2016). Lastly, with digital portfolios, one is not limited by a time and people to present their portfolio too.
With any website made, there are issues that can come with it. Software conflicts, files that are too large, and uploading dilemmas are all things to consider while building a website. Also, when meeting with a client it could be more difficult showing them your work with just
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