How to Make Money From Your Photography (Microstock)
By trade I’m a web developer and my wife is a graphic designer. Together we began selling our photographs through the internet over two years ago as a way to earn a little extra cash from something we enjoyed doing. At the time we only had a little 4 megapixel point-n-shoot camera but my wife knew about editing photos from studying Design in college. At the time we thought we knew about photography as well, however we now know what we didn’t know then.
We only earned $16 in our first month, but with persistence and lots of research we raised this to $270 in six months. As it was a part time hobby we didn’t expect it to earn so much so quickly, but this early success convinced us of the potential and we quickly invested in a digital SLR. Over two years later we’re now earning around $600 each month with a modest portfolio of around 700 photos listed with eight agencies. We’re still hobbyist photographers creating stock photos in our spare time.
You may be wondering, “Who sells photos in the microstock market?” Through the internet I’ve connected with hundreds of other microstock contributors. You would be surprised at the amazing variety of people who contribute to this market and each has a similarly impressive variety of reasons. There are many retired couples who simply want to see their work published; there are also people who earn tens of thousands of dollars each month. There are a huge variety of people in the middle for microstock is their job or who, like me, have microstock as part of their monthly income. Yet one of the largest groups are photography students - both students who have formally chosen photography as their career and hobbyists who study for fun.
Why is microstock so good for students? The three main reasons include: freedom; money; and education.
Microstock is free to participate and there are no work hours, no bosses and no due dates. Microstock pays money which is great given photography isn’t cheap. Microstock is also a great way to educate yourself if you’re interested in learning about the commercial side of photography. What better teacher than a global market of photo buyers?
Yes, Microstock is a controversial endeavor. You may have heard it is ‘bad’ for the industry. The microstock concept is relatively new as it only works with the Internet and high quality digital cameras. Because of that there are many professional stock photographers with strong feelings about the impact microstock is having on the industry.
I have personally spoken with some of the world’s most successful stock photographers and they tell me that they’re not noticing any impact on their business from microstock. Photos compete on quality and not price (microstock photos sell cheaper but in higher quantity) and there will always be buyers interested in the top level of the market, regardless of the price.
It’s also makes sense to assume that the hundreds of photographers who now earn a living with microstock have displaced some ‘traditional’ stock photographers. This is a natural phenomenon and happens with any technological change as big as the Internet and digital photography and it’s completely understandable that those on the receiving end are not happy about it.
The nice thing is that Microstock has now brought new buyers to the market. Small businesses, charities and bloggers weren’t big buyers of stock photos when each photograph cost $350 or more. Now that blog size images are $1 and print size images are $10, you can imagine how sales have increased.
Now you might be wondering, how much can I earn in microstock? That question depends on both the quality and quantity of photos you can produce. Many people who work full time and have a portfolio of 7,000 high quality images earn over $20,000 per MONTH! On the flip side some contributors with only a handful of images earn just a few dollars a month. Like me, you will most likely find yourself between these two extremes.
I earn a little under $1 per photo per month. On my blog I publish my monthly earnings figures and links to my portfolios (About page). With this information you can easily compare your portfolio or photography skills to determine more or less how much you could expect to earn with your photos in the microstock market.
Is it easy to get into microstock? Not at the start. Many agencies require a test submission which is generally stricter than their usual review process. Microstock agencies also review submissions based on what sells; typically these are images that are super sharp, noiseless and commercially appealing. Because of this process many established and highly skilled photographers experience early rejections and quickly dismiss the microstock opportunity. By beginning with the middle tier agencies that don’t require you to pass a test, you can easily get an idea of what types of photos are accepted and which ones sell well. After that, it’s relatively easy to start earning money.
Here’s two of my best selling photos. Each is a simple shot taken with the intention of selling for stock, but with no more preparation that being in the the necessary place with my camera. Both these photos earn over $30 per month though their success varies between agencies.
It’s also not easy creating above-average success. Average per-photo earnings of top microstock contributors can be up to ten times what I earn, so you can imagine the difference in the quality and appeal of the photos they produce. They also need to repeat this many times to create a portfolio large enough to raise their earnings above average.
How can I improve my chances of success? These are some hints for those who are interested in getting started selling their photos in the microstock market:
Managing your expectations can often sound easier than it actually is. A typical sales pitch might read, “click here to start earning money from the photos sitting idle on your computer”. That’s not exactly realistic and you’ll soon quit if you begin with this expectation in mind. Do your own research to figure out what sells, create these photos well, and be smart about how you contribute. Concentrate on workflow.
If you wish to contribute many photos it makes tons of sense to have an efficient workflow so you don’t waste time doing unnecessary and repetitive tasks. Do your research and refine your process so you can put a quality product into the market as efficiently as possible. Microstock is business. If you’re more of an artist than an actual commercial photographer you may want to seriously consider if you and microstock are a good match. Don’t get me wrong, artistic photos will sell in the microstock market, but not nearly as well as commercial photos.
Research. I’ve already given you some ideas to research but don’t stop with those. Get every one of your questions answered prior to beginning so you save time and don’t do anything that doesn’t work to your advantage. There are many things written on the internet for people who are interested in selling photos in the microstock market.
6 Microstock Sites Where You can Make Money from Your Photos Here are a number of Microstock programs that offer photographers money for their images: Shutterastock, Dreamstime, Crestock, fotolia, 123rf, Stockxpert.
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