Welcome back to another Momentum Monday!
In this weekly blog, we dive into Matterport once again and how much you should charge for these virtual tour services.
Momentum 360 will be releasing a course that shows you how to start up your own virtual content company. In the meantime, we’ll be giving it all away to you for free…so read up on our blogs as much as you can. There’s a goldmine of information and data in our content to help you start up and crush your market.
So….how much to charge for Matterport Virtual Tours?
This answer seems to be different for every virtual content company out there. On average, the average cost for a Matterport Virtual Tour should be about $300. But what if you’re shooting a small 800 sq ft studio apartment or a 300,000 sq ft facility? Should you still charge $300? Of course not. That would be a waste of your time to not charge more.
Below is a pricing model we’ve used for our tenure as a company and it works well for our clients!
Pricing Model = $300 + 10% of Sq Ft
Hosting Fee (Any Industry Other Than Real Estate) = $10/month
Base Fee
Before we go into square footage (this is where you make big money), we need to set a base rate for sending your photographer out to a shoot. Remember, you have virtual technology at your hands. You should charge a premium for this service. You can optimize this content to tailor your client’s needs…whether they’re in real estate, retail, restaurants, etc. Doesn’t matter.
We settled on $300 for our base fee. We think this is a fair rate for our client’s receiving their content the same day, no excuses. This same day guarantee has won us a lot of business in the past and will continue to do so in the future. People need their content yesterday, not today. Today is already too late. So if they’re willing to invest in Momentum, we quite literally give them momentum back. So if you’re wondering how much to charge for your Matterport Virtual Tours, you need to start with a base rate.
Square Footage
Like I said earlier in the blog, this is where you can make big money. Let me explain.
It’s not logical to not charge per square foot for your tours. This will make volume seem like the only option for your company, but it doesn’t have to be. Implementing a square footage model such as “$.10 per square foot” takes into account the size of the building you’re shooting so you can make more money as project sizes start to differ in size. This is a tremendous opportunity for your virtual tour company to shine. Without charging square footage, you’ll be missing out on huge projects.
We recommend coupling your base rate with a square footage model…regardless of what that base rate is. To make a killing in the virtual content business, you need to charge per square foot. This is the only way to truly scale.
Hosting
This is a tricky one. Personally for our owners, they’ve tackled the question of charging for hosting or not. We’ve boiled it down to this: For real estate, we don’t need to charge hosting because these properties will only need the tours for around 180 days maximum. For all other industries, they’ll need these tours much longer than real estate agents do. So for all other industries except real estate, we’ll charge a $10/month hosting fee per tour. This ensures that you can go in and change their virtual tour…and you’re not doing it for free.
Optimization
Other than learning how much to charge for Matterport Virtual Tours, you should learn how to optimize your Matterport virtual tour. Fortunately, this is a blog we’ve already talked about! You can simply watch this video and you’ll be able to learn how to completely optimize your Matterport tour.