Menlo Park, CA, Oct. 04, 2022 (GLOBE NEWSWIRE) — Zenfolio, the market leader in creative and business solutions for photographers, is the first photography platform to launch Smart Pricing – an advanced data-driven technology feature designed to help photographers best and competitively price prints and products based on historical sales data from hundreds of thousands of transactions, their genre of photography, the geographic location in which they sell, and other factors market keys.
“Zenfolio is thrilled to be the only photography business platform to offer an integrated, intelligent pricing resource,” said John Loughlin, President and CEO. “Our innovative smart pricing engine helps simplify product pricing, eliminating a potentially stressful business task for photographers, while simultaneously helping them maximize revenue and profit based on actual market transactions in their region.”
Running a photography business involves making critical decisions about operations and merchandising in order to be competitive and profitable. Pricing for products and services is often one of the biggest business challenges a photographer faces, whether they are a budding, part-time or seasoned professional. Photographers tend to focus on the creative aspects of their business and lack the resources to do the extensive research needed to ensure they charge competitively.
The Zenfolio Smart Pricing feature applies advanced algorithms to offer price recommendations on digital products, impressions, and downloads based on geographical location of the company (zip code/state), local print lab feeand type of shooting (sports, portraits, weddings, etc.). Smart Pricing then suggests rates so photographers can make data-driven decisions and adjust prices to market demands.
This “big business” discipline allows a small, local business to set prices based on hundreds of thousands of historical data points collected from photographers reviewing their products on the Zenfolio platform.
The exclusive Zenfolio Smart Pricing tool saves photographers hours of researching local market pricing, calculating margins, and worrying about setting appropriate prices for optimal revenue and profit. Photographers have full control with the ability to create multiple price lists for different types of clients or genres of photography, and adjust prices at any time based on their needs.
Smart Pricing is available to Zenfolio subscribers in the US as part of PortfolioPlus and ProSuite plans that include e-commerce solutions.
Zenfolio Inc. offers advanced professional solutions that allow photographers to easily show, share and sell their images. For nearly two decades, Zenfolio has proudly served photographers around the world.
Zenfolio brands and services include Format, a portfolio website solution for all creative professionals, PhotoRefine.ai, advanced AI technology eliminates the work of grouping, rating and culling images, PhotoBooker .com, a resource for finding and booking local photographers, and Prints Marketplace, an online gallery that sells museum-quality prints from artists and photographers around the world.
Zenfolio launches smart pricing