Maximising Earning Potential in a Mature Microstock Marketplace

1. Maximising Earning Potential in a Mature Microstock Marketplace Bob Davies

2. Who am I? Microstock Illustrator & (Occasional) Photographer

3. Who am I? • Blogger & software engineer • Microstock sites/tools • 5 browser add-ons • 2 wordpress plug-ins

4. My Philosophy Pragmatic Rational Responsible

5. Goals • View microstock industry as raw data • Find your place in the industry • Develop your portfolio • Content • Workflow • Reach

6. Maturing Microstock Eng: Maturing Microstock

7. Maturing Microstock • 2002-2005: Microstock emerged • Few agencies • Dollar-prices • The long-tail emerged • 2005-2009: Microstock developed • More newcomers • Upward and downward price pressures • The long-tail was easily recognised

8. Maturing Microstock • 2009-????: Microstock matures • LOTS of competitors • Buyouts, mergers and partnerships • Premium micro-content earns promoted pricing • Up-selling takes centre-seat • ‘Reach’ opens niche markets • The long-tail is now VERY head-heavy

19. Is the long-tail everywhere?

21. The long-tail is everywhere...

22. The long-tail rules • This is the 80/20 rule visualised • Your position in the head/tail matters... • There is no ‘real’ average • The head is better for any ‘one’ • The tail is good for any ‘many’

23. Where are you?

24. Developing your portfolio

25. Fundamentals • Research and preparation are critical • Objectivity goes a long way • Quality is greater than quantity • Conversion rates earn status • Monitor, revise and renew

26. The Thought-Model was: sell MORE photos

27. The Thought-Model is now: sell MORE PHOTOS

28. Future Thought-Model: SELL more PHOTOS

29. SELL more PHOTOS • Analytics & Self-awareness • Targeted Production • Shoot for your market • Accurate and relevant metadata • Agencies/photographers markets must ‘align’ • Marketing • Up-sell your market • Change your workflow

30. Typical Workflow was:

31. Workflow MUST become: • Earn

32. Aspects of the image (then) • Early microstock • Images were rough • Lots of opportunity for everyone • Few barriers-to-entry • Recent developments • Higher quality is necessary • Less space in the market • Production costs are increasing

33. Aspects of the image (near future) • Lifestyle & ‘rich media’ content • Broader internationalised content • Content quality will improve ever more • Expansion into footage is wise • Room for niche collections is growing • New technology makes brings new imagery • Your style needs to be original, and definitively your own

34. What to actually shoot? • What is a picNiche rating? • Conversion against competition • Oversupplied topics rate low • Undersupplied topics rate high • Not a perfect measure, but a good indicator • Search volume data is an issue • What I’ve learned from picNiche data...

35. Downward Trends: Animals

36. Downward Trends: Business

37. Downward Trends: Female

38. Downward Trends: Male

39. Downward Trends: Family

40. Downward Trends: Seniors

41. Downward Trends: Seasons

42. Downward Trends: Positive Emotions

43. Downward Trends: Objects

44. Downward Trends • Downward trends are ALL due to • Increased competition • Don’t waste your time... • If you plan to produce any of these topics: • you must be GREAT already • ...and improve to become AMAZING!

45. Upward Trends: Places

46. Upward Trends: More Places

47. Upward Trends: Music

48. Upward Trends: Energy

49. Upward Trends: Gay Lifestyle

50. Upward Trends: Negative Emotion