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Tip of the Week – Revenue Streams

June 25, 2012

Multiple revenue streams are key for a successful business. Even if you are a photographer that only specializes in weddings, for example, multiple revenue streams around weddings is key. There are the usual suspects of albums, canvas prints, thank you cards, holiday cards, etc. But, spending some time asking past clients or friends for what they might want reveals alternate revenue streams.

When I was married, we had a very inexpensive wedding in Japan and hired a wedding photographer to do the formals. He did a decent job, but the new style of wedding photography that I love was just not around, especially in the deep countryside of Japan. So we don’t have any nice couple photos from our wedding. Next year is our 15-year anniversary and we have made the commitment to have nice photos taken by an excellent photographer and have an album and probably some wall art printed. As a couple, even one with kids and years of marriage behind us, our relationship as a couple is very important to us.

A few months ago, the word “reEngaged” popped into my head. A photo shoot that is focused around a couple re-engaging with each other as a couple. This might be a married couple with kids. A couple that you photographed a few years ago for their wedding and want to re-experience the romance of the shoot. Or, like my neighbors, they might be a couple who weren’t able to have what they wanted for their wedding photography and wanted to revisit it.

Email Out A Marketing Piece

© Image copyright Andrew “Fundy” Funderburg

Simply go through your past wedding/portrait clients and send out an email like this one. This is a special you could easily run 2-3 times a year and have a great return on. A simple idea, with the possibility of a ton of revenue.

The template above is from Kismet Marketing, our own cache of pre-made email marketing templates. Use ours, use your own. It doesn’t matter.

Don’t Stop Here

This is just one idea. Think about your clients and think about what they might like? What do you currently do that you could turn around and look at from a different angle? Come up with a good idea? That’s a revenue stream.

The old adage is that a stool needs three legs to stand up. A business is just a stool and the legs are revenue streams.

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