Here at Fotomerchant, we’re fueled by data. Always hungry to learn more about parent buying habits, we believe that without data, you’re only guessing. With digital products’ popularity increasing, we turned our inquisitive eye towards this trend. In today’s digital age, including digital photos in your product offerings is no longer optional; it’s necessary. If you don’t do it, your competitors will, and we can’t let that happen, can we?
This blog is the second installment of our two-part series uncovering the potential of digital products. Before we begin, we’d like to clarify that when we say ‘digital product,’ we mean image or video files captured digitally and distributed electronically. Click here to learn more about what makes our digital delivery particularly powerful.
Now, let’s dive head first into the digital delivery data. The following data was captured in our School Photography Industry Report. Over the past two years, we’ve surveyed over 74,000 parents. Through our survey, we’ve noticed the digital shift reshaping the school photography industry. Here’s what we’ve learned.
How Do Parents Use Their School Photos?
The data speaks loud and clear. Parents want digital photos. A staggering 53% of parents now want to see their child’s school photos as digital products. Yep, that’s over half of all parents!
Why? 33% of parents want digital images to share on social media. They’re not just collecting dust; these images are used to share with friends and family digitally. It’s the new norm, people!
What Parents Want in a Package
What do parents want in their school photo packages? Well, 46% of parents want digital photos included. Adding digital products to your catalog increases the overall perceived value of your other physical offerings. It’s a no-brainer!
But it’s not just about throwing in some pixels; it’s about customization. Custom backgrounds are all the rage, with 55% of parents wanting the option to choose backgrounds that resonate with them. Customization is key to making parents happy, whether it’s solid colors, textured backgrounds, or themed settings.
The data doesn’t lie; providing various options can be a game-changer. About 71% prefer solid colors, 57% love a bit of texture, and there’s a strong demand for themed backgrounds that reflect holidays, sports, and school environments.
This is a great way to increase your revenue, upsell by offering customization options, such as custom backgrounds, and watch your sales soar.
Another exciting opportunity to supercharge your offerings is through creating digital bundles. Release them at different times throughout the year to keep your customers engaged and excited about ordering more photos.
Offer new themes, backgrounds, or exclusive deals to entice parents to come back for more.
How Much Are Digital Products Worth?
Now, the big question: How much are digital products worth? The data reveals that 40% of parents believe digital photos are equally or more valuable than physical prints. Whereas 47% value digital prints as less than a digital photo. The pricing strategy here is crucial. We recommend experimenting with different price points and packaging to find what resonates with your customer base.
Give ’em freebies! We’ve uncovered some interesting data around the value of “free items.” By including a free digital item in select packages or bundles, you can enhance their perceived value. This strategy can attract customers to your best-selling offerings and boost sales for packages that may have previously underperformed.
So there you have it, folks! The digital wave is here, and it’s time to ride it to boost your revenue and cater to your customers’ evolving preferences. Have any follow-up questions? Don’t hesitate to reach out to us for support. Thanks for joining us, and until next time, keep capturing those memories!