I tried my hand at stock very recently, and I want to share my experience and show you how to fail at stock photography.
Then I hope to show you how to succeed at it!
Why Stock Photography?
I believe it is important to diversify your income online. You never know when one income stream will dry up, and some things sell better at certain times of the year. One obvious income stream for your photography side hustle is stock photography. You’re taking photos anyway, so why not sell some of them?
The big appeal of stock photography is that it is passive income. Once you’ve uploaded the photos to the stock agency, all you have to do is sit back, the images will sell, and the money will roll in! How easy is that?
Of course, things are never that easy.
Strictly speaking, I am talking about microstock, where you offer a large number of images for sale at low prices. Traditional stock photography involves selling unique images at a relatively high cost per image, whereas microstock is volume-based and the images are “ready to use” for blogs or other online use. This article gives a great overview of the style differences between stock and microstock.
Getting Started in Stock
I knew next to nothing about stock photography, but a little research pointed me to this fantastic guide. “Get Started in Stock” (3rd Edition at the time of this post) is an excellent e-book and delivers what the title says. It is full of valuable tips and is well worth the modest price. Go buy it if you’re at all interested in stock photography. Those are affiliate links but I’d recommend it regardless. It’s a great value.
The basic steps for getting started in stock photography are these:
- Register at one or more stock agencies
- Select images from your library to sell
- Edit the images
- Title and keyword the images
It is… but you’ll see that step 6 is the hard one.
The First Batch
“Get Started in Stock” recommends that you start with CanStock and then move on to Shutterstock (affiliate links). I followed that advice. I selected 10 photos, uploaded them to CanStock, and they were all accepted! Awesome. Great start.
I moved on to Shutterstock and uploaded the same 10 the next day. 9 were accepted and I was in. Sweet. I registered for Dreamstime (affiliate link) and uploaded there too. I decided to hold off on iStockPhoto for a week or two and just concentrate on these three.
I was really on a roll.
The Second Round
I selected a bunch of other photos from my library, edited them and uploaded them to those three again. This time I used FTP for efficiency (it’s all in the e-book).
It takes time for the stock agencies to review your photos to decide if they wish to accept them. I had close to 30 in the queues at CanStock and Shutterstock and Dreamstime… when it all came crashing down.
First up was CanStock, which rejected about 25 of the images. Ouch.
The big blow was Shutterstock, which rejected all 29 images.
Picking Up the Pieces
I was devastated. After such a promising start, I got a hard lesson on how to fail at stock photography.
I stopped uploading for a day, just to take a breather and assess why so many were rejected.
The agencies give one or more reasons per photo, but I can distill them down to three main reasons:
- Unacceptable image quality (focus being the biggest problem);
- Too common / similar to others in their database;
- Image was boring / didn’t “pop”; and
- Image wasn’t saleable / didn’t tell a story.
They were right to reject them.
Back At It
I went back into my library with a far more critical eye. I was pixel peeping with a vengeance, looking for images that really grabbed the eye and could communicate a message or a feeling.
I also slowed down my upload rate. I aimed for uploading 5-10 images/day to get some quality in and improve my success ratio.
I had better success after that. My approval ratio is still not great but it has improved. In my experience, Shutterstock is the pickiest, followed by CanStock and then Dreamstime.
My first sale came four days ago, and it was Hebrew Clock on Old Town Hall. 35 cents!
I was so excited. When I noticed I had a balance in my Dreamstime account, I ran and told my wife. She was a bit… underwhelmed. She did see that it was progress, but she knows, as do I, that stock photography is a numbers game and one sale means more will come.
My second sale happened yesterday, and it was Boardwalk Up To Tourist Outlook Under Blue Sky. 25 cents!
Where I’m At Now
I am still very early in the game. My first upload to CanStock was on November 25, so I’ve only been doing this for three weeks.
At the time of writing, I have:
I have a net income of $0.60 after investing probably 30-35 hours of effort.
You might say that is a terrible hourly rate. You’re correct. I see it as an investment. Now that these images are out there, they will bring income, bit by bit, and as I increase my portfolio the income will increase. I don’t expect it to ever be huge but those images are now generating passive income.
Here is where I am going with my stock photography:
- Upload more photos
- Expand to more stock agencies (now on 5)
- Start shooting specifically for stock
- Publicize my galleries
My goal for December is to have 100 images online. For January I want to double that, and then we’ll see for February. My secret plan is to have 1,000 online by the end of 2016.
Wish me luck!