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Maximising Earning Potential in a Mature Microstock Marketplace<br />Bob Davies<br />
Who am I?<br />Microstock Illustrator & (Occasional) Photographer<br />
Who am I?<br /><ul><li>Blogger & software engineer
Microstock sites/tools
5 browser add-ons
2 wordpress plug-ins</li></li></ul><li>My Philosophy<br />Pragmatic<br />Rational<br />Responsible<br />
Goals<br />View microstock industry as raw data<br />Find your place in the industry<br />Develop your portfolio<br /><ul>...
Workflow
Reach</li></li></ul><li>Maturing Microstock<br />Eng: Maturing Microstock<br />
Maturing Microstock<br />2002-2005: Microstock emerged<br />Few agencies<br />Dollar-prices<br />The long-tail emerged<br ...
Maturing Microstock<br />2009-????: Microstock matures<br />LOTS of competitors<br />Buyouts, mergers and partnerships<br ...
Is the long-tail everywhere?<br />
The long-tail is everywhere...<br />
The long-tail rules<br />This is the 80/20 rule visualised<br />Your position in the head/tail matters...<br />There is no...
Where are you?<br />
Developing your portfolio<br />
Fundamentals<br />Research and preparation are critical<br />Objectivity goes a long way<br />Quality is greater than quan...
The Thought-Model was:<br />sell<br />MORE<br />photos<br />
The Thought-Model is now:<br />sell<br />MORE<br />PHOTOS<br />
Future Thought-Model:<br />SELL<br />more<br />PHOTOS<br />
SELL more PHOTOS<br />Analytics & Self-awareness<br />Targeted  Production<br />Shoot for your market<br />Accurate and re...
Typical Workflow was:<br />
Workflow MUST become:<br />Earn<br />
Aspects of the image (then)<br />Early microstock<br />Images were rough<br />Lots of opportunity for everyone<br />Few ba...
Aspects of the image (near future)<br />Lifestyle & ‘rich media’ content<br />Broader internationalised content<br />Conte...
What to actually shoot?<br />What is a picNiche rating?<br />Conversion against competition<br />Oversupplied topics rate ...
Downward Trends: Animals<br />
Downward Trends: Business<br />
Downward Trends: Female<br />
Downward Trends: Male<br />
Downward Trends: Family<br />
Downward Trends: Seniors<br />
Downward Trends: Seasons<br />
Downward Trends: Positive Emotions<br />
Downward Trends: Objects<br />
Downward Trends<br />Downward trends are ALL due to<br />Increased competition<br />Don’t waste your time...<br />If you p...
Upward Trends: Places<br />
Upward Trends: More Places<br />
Upward Trends: Music<br />
Upward Trends: Energy<br />
Upward Trends: Gay Lifestyle<br />
Upward Trends: Negative Emotion<br />
Upward Trends: Random Selection<br />
Extra Opportunities:<br />These are moving down, but still have room for sales:<br />Rare animals<br />Bonsai<br />Lacross...
Upward Trends<br />Upward trends exist mainly because of:<br />Image-buyers in emerging markets<br />Higher expectations f...
General Topics to Shoot<br />Alternative lifestyle<br />‘Luxurious’ life images<br />Exotic locations<br />People at work ...
Stay Ahead of the Curve...<br />Research and review are critical<br />Plan each production<br />Assess your market’s needs...
Innovate<br />Collaborate<br />Communicate<br />
The Future for Microstock<br />
Tough for Photographers...<br />More competition from new photographers<br />Aggressive positioning from lead photographer...
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STOCKinRUSSIA 2011. Robert Davies_picNiche. Identifying Microstock Trends and Maximising Earning Potential in a Mature Marketplace

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STOCKinRUSSIA 2011. Robert Davies_picNiche. Identifying Microstock Trends and Maximising Earning Potential in a Mature Marketplace

  1. 1. Maximising Earning Potential in a Mature Microstock Marketplace<br />Bob Davies<br />
  2. 2. Who am I?<br />Microstock Illustrator & (Occasional) Photographer<br />
  3. 3. Who am I?<br /><ul><li>Blogger & software engineer
  4. 4. Microstock sites/tools
  5. 5. 5 browser add-ons
  6. 6. 2 wordpress plug-ins</li></li></ul><li>My Philosophy<br />Pragmatic<br />Rational<br />Responsible<br />
  7. 7. Goals<br />View microstock industry as raw data<br />Find your place in the industry<br />Develop your portfolio<br /><ul><li>Content
  8. 8. Workflow
  9. 9. Reach</li></li></ul><li>Maturing Microstock<br />Eng: Maturing Microstock<br />
  10. 10. Maturing Microstock<br />2002-2005: Microstock emerged<br />Few agencies<br />Dollar-prices<br />The long-tail emerged<br />2005-2009: Microstock developed<br />More newcomers<br />Upward and downward price pressures<br />The long-tail was easily recognised<br />
  11. 11. Maturing Microstock<br />2009-????: Microstock matures<br />LOTS of competitors<br />Buyouts, mergers and partnerships<br />Premium micro-content earns promoted pricing<br />Up-selling takes centre-seat<br />‘Reach’ opens niche markets<br />The long-tail is now VERY head-heavy<br />
  12. 12.
  13. 13.
  14. 14.
  15. 15.
  16. 16.
  17. 17.
  18. 18.
  19. 19.
  20. 20.
  21. 21.
  22. 22. Is the long-tail everywhere?<br />
  23. 23.
  24. 24. The long-tail is everywhere...<br />
  25. 25. The long-tail rules<br />This is the 80/20 rule visualised<br />Your position in the head/tail matters...<br />There is no ‘real’ average<br />The head is better for any ‘one’ <br />The tail is good for any ‘many’<br />
  26. 26. Where are you?<br />
  27. 27. Developing your portfolio<br />
  28. 28. Fundamentals<br />Research and preparation are critical<br />Objectivity goes a long way<br />Quality is greater than quantity<br />Conversion rates earn status<br />Monitor, revise and renew<br />
  29. 29. The Thought-Model was:<br />sell<br />MORE<br />photos<br />
  30. 30. The Thought-Model is now:<br />sell<br />MORE<br />PHOTOS<br />
  31. 31. Future Thought-Model:<br />SELL<br />more<br />PHOTOS<br />
  32. 32. SELL more PHOTOS<br />Analytics & Self-awareness<br />Targeted Production<br />Shoot for your market<br />Accurate and relevant metadata<br />Agencies/photographers markets must ‘align’<br />Marketing<br />Up-sell your market<br />Change your workflow<br />
  33. 33. Typical Workflow was:<br />
  34. 34. Workflow MUST become:<br />Earn<br />
  35. 35. Aspects of the image (then)<br />Early microstock<br />Images were rough<br />Lots of opportunity for everyone<br />Few barriers-to-entry<br />Recent developments<br />Higher quality is necessary<br />Less space in the market<br />Production costs are increasing<br />
  36. 36. Aspects of the image (near future)<br />Lifestyle & ‘rich media’ content<br />Broader internationalised content<br />Content quality will improve ever more<br />Expansion into footage is wise<br />Room for niche collections is growing<br />New technology makes brings new imagery<br />Your style needs to be original, and definitively your own<br />
  37. 37. What to actually shoot?<br />What is a picNiche rating?<br />Conversion against competition<br />Oversupplied topics rate low<br />Undersupplied topics rate high<br />Not a perfect measure, but a good indicator<br />Search volume data is an issue<br />What I’ve learned from picNiche data...<br />
  38. 38. Downward Trends: Animals<br />
  39. 39. Downward Trends: Business<br />
  40. 40. Downward Trends: Female<br />
  41. 41. Downward Trends: Male<br />
  42. 42. Downward Trends: Family<br />
  43. 43. Downward Trends: Seniors<br />
  44. 44. Downward Trends: Seasons<br />
  45. 45. Downward Trends: Positive Emotions<br />
  46. 46. Downward Trends: Objects<br />
  47. 47. Downward Trends<br />Downward trends are ALL due to<br />Increased competition<br />Don’t waste your time...<br />If you plan to produce any of these topics:<br />you must be GREAT already<br />...and improve to become AMAZING!<br />
  48. 48. Upward Trends: Places<br />
  49. 49. Upward Trends: More Places<br />
  50. 50. Upward Trends: Music<br />
  51. 51. Upward Trends: Energy<br />
  52. 52. Upward Trends: Gay Lifestyle<br />
  53. 53. Upward Trends: Negative Emotion<br />
  54. 54. Upward Trends: Random Selection<br />
  55. 55. Extra Opportunities:<br />These are moving down, but still have room for sales:<br />Rare animals<br />Bonsai<br />Lacrosse<br />Financial planning<br />Tech. infrastructure<br />Social media<br />Hacking & Security<br />Hockey<br />Medical imagery<br />Boxing<br />Fossils<br />Life insurance<br />Scientific principles<br />Active workers<br />‘Real’ dancing<br />Server hardware<br />Traditional Asian culture<br />Children’s pastimes<br />Mortgages & Loans<br />Angels<br />Maps<br />Juggling<br />Horse racing<br />Under construction<br />Cheerleading<br />Ninja<br />Sports coaching<br />Water sports<br />Dolphins<br />Drugs & Alcohol<br />Lost puppy<br />Magic<br />
  56. 56. Upward Trends<br />Upward trends exist mainly because of:<br />Image-buyers in emerging markets<br />Higher expectations from existing buyers<br />New fashions in imagery<br />Few topics currently upward trending<br />More generally...<br />
  57. 57. General Topics to Shoot<br />Alternative lifestyle<br />‘Luxurious’ life images<br />Exotic locations<br />People at work and play (active, not staged)<br />Highly-styled and cultural<br />Footage with the same focus as successful imagery<br />3D-imagery<br />These topics won’t stay the same for long...<br />
  58. 58. Stay Ahead of the Curve...<br />Research and review are critical<br />Plan each production<br />Assess your market’s needs<br />Read what they blog/write about<br />Follow their news<br />Use Google image-search / TinEye / PicScout<br />Maximise your reach<br />Check the return-on-investment<br />and most importantly...<br />
  59. 59. Innovate<br />Collaborate<br />Communicate<br />
  60. 60. The Future for Microstock<br />
  61. 61. Tough for Photographers...<br />More competition from new photographers<br />Aggressive positioning from lead photographers<br />More discerning buyers<br />Changing styles in demand<br />Slimmer margins<br />More involved work<br />Higher quality requirements<br />
  62. 62. Not Much Better for Agencies...<br />More competition from new agencies<br />Aggressive market positioning from top agencies<br />More discerning buyers <br />Changing styles in demand<br />Slimmer margins<br />More marketing work<br />Higher quality requirements<br />More complicated third-party relationships<br />More upset photographers<br />
  63. 63. It’s not all negative<br />Countless image buyers remain to be up-sold<br />More people online in non-western nations<br />Some Agencies becoming more forward-thinking<br />Photographers and agencies doing well now have little chance of failure<br />
  64. 64. Questions?<br />Bob Davies<br />bob@picNiche.com<br />bob@picWorkflow.com<br />Twitter: @bobbigmac<br />Blog:<br />http://blog.picNiche.com<br />

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