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.
In our first month we only earned $16, yet with some persistence and a lot of internet research we raised this amount to $270 in six months. Since it was only a part time hobby we certainly weren’t expecting it to earn so much so quickly, yet this early success convinced us of the potential that was there and we quickly invested in a digital SLR. That was 2 years ago and we’re now earning around $600 per month and have a modest portfolio of approximately 700 photographs listed with eight agencies. We still consider ourselves hobbyist photographers who create 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? There are three main reasons: 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?
Isn’t microstock ‘bad’ for the industry? If you do any research about microstock you will quickly find that it’s controversial. The concept only works with the Internet and high quality digital cameras, so it’s still relatively new. Subsequently there are still many professional stock photographers with strong feelings about the impact microstock is having on the industry.
Many of the world’s most successful stock photographers that I have spoken with have said they’re not noticing any impacts on their business from microstock. These professionals know that their photos compete on quality and not price (microstock photos sell cheaper but in higher quantity) and they also know that 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 microstock easy? Not at the beginning, it isn’t. Many online agencies require a test submission which is generally stricter than their typical review process. Microstock agencies also review submissions based on what sells, which is images that are super sharp, noiseless and commercially appealing. Because of this initial review many of the established and highly skilled photographers experience early rejections and quickly dismiss the microstock opportunity. You can start with some of the middle tier agencies which don’t require you to pass a test. In doing this you can easily get an idea of what types of photos are being accepted and which ones sell well. After that, it’s relatively easy to start earning money.
Doing some research you can find examples the best selling photos. Typically most are simple shots taken with the intention of selling for stock, but with no more preparation that being in the correct spot with your camera. Many photos can earn over $30 per month though the potential success will vary between agencies.
Creating above average success is not that easy. Average per-photo prices of top microstock contributors can literally 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 my top tips for people getting started selling their photos in the microstock market:
Manage your expectations. It can often sound easier than it really is. A common sales pitch reads, “click here to start earning money from the photos sitting idle on your computer”. That’s not realistic and you’ll quickly quit if you start with this expectation. Do your own research to figure out what sells, create those photos well, and be smart about how your 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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