How to Make Money From Your Photography (Microstock)
My wife and I began selling photos online over two years ago as a way to earn a little extra money out of something we enjoyed. At the time we had a little 4 megapixel point-n-shoot camera but since my wife knew a little about photo editing from studying graphic design in college. At the time we thought we knew about photography, we soon realized we didn’t know that much at all.
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 reasons microstock is so great for students: freedom; money; and education.
To participate with Microstock is free and there are no set work hours, no bosses and most importantly, no due dates. Microstock pays money which is great given that photography isn’t a cheap endeavor. If you are interested in learning about the commercial side of photography Microstock is also a great way to educate yourself. 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.
To be sure, Microstock has brought new buyers to the market. Prior to Microstock small businesses, charities and bloggers weren’t big purchasers of stock photos when each image 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 just a bit under $1 per photo per month. You can find monthly earnings, figures and links to various portfolios with a quick Google search. With this information you can quickly compare your portfolio or photography skills to figure out, 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.
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 to create above-average success. The average per-photo earnings of many of the top microstock contributors can be up to ten times what I currently make, so you can imagine the difference in the quality and appeal of the photos they produce. They also need to repeat this success 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:
It is important to manage your expectations. I know this sounds easier than it actually is. A common sales pitch generally will read, “click here to start earning money from the photos sitting idle on your computer”. This is not very realistic and chances are you’ll quickly quit if you begin with this expectation. It is important to 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 are planning on contributing many photos it’s important to have an efficient workflow so time is not wasted doing unnecessarily repetitive tasks. Do your research and refine your workflow so you can put quality photographs into the market as quickly and efficiently as possible. Microstock is business. If your photographs are more artistic than commercial you may want to seriously consider if you and microstock are a good match. Artistic photos will not sell as well as commercial photos, however they will sell in the microstock market.
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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