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	<title>36clicks on stock &#187; Portfolio</title>
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		<title>Thoughts on a changing photography market</title>
		<link>http://www.36clicks.nl/thoughts-on-a-changing-photography-market/</link>
		<comments>http://www.36clicks.nl/thoughts-on-a-changing-photography-market/#comments</comments>
		<pubDate>Fri, 02 Oct 2009 12:50:56 +0000</pubDate>
		<dc:creator>36clicks</dc:creator>
				<category><![CDATA[A Photography business]]></category>
		<category><![CDATA[branding]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[change]]></category>
		<category><![CDATA[changing]]></category>
		<category><![CDATA[essay]]></category>
		<category><![CDATA[management]]></category>
		<category><![CDATA[market]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[microstock]]></category>
		<category><![CDATA[Photography]]></category>
		<category><![CDATA[Portfolio]]></category>
		<category><![CDATA[stock]]></category>
		<category><![CDATA[stockphotography]]></category>

		<guid isPermaLink="false">http://www.36clicks.nl/?p=129</guid>
		<description><![CDATA[With a supply chain, which is over-saturated, with an aggressive competition between agents, and a change in buyer demands, the business is about to change. The channels, through which images are sourced, have already begun adapting, but the majority of photographers is lagging behind. This makes sense, as the stock agents are for the most part rather large enterprises, compared to their suppliers - the photographers. The majority of photographers consist of hobbyists, or pro-photographers with a different core-business than shooting stock, and the few full time pros. Yet, we all need to change. Change is possible, and the changed situation also has a few positive side effects. The days of "business as usual" are over, and I believe that is a good thing, as "business as usual" is a creativity killer, and creativity is a bare necessity for any photographer. The market is professionalizing, and it is likely, that photographers, who refuse to adapt, will perish in this process, possibly bringing a bit of balance back to the supply and demand [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: right; margin-left: 10px;"><a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.36clicks.nl%2Fthoughts-on-a-changing-photography-market%2F"><img src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.36clicks.nl%2Fthoughts-on-a-changing-photography-market%2F" height="61" width="51" /></a></div><p>Reading time: 8 &#8211; 12 minutes</p>
<p>
<a href="http://www.36clicks.nl/wp-content/gallery/business-concepts/36c_financial-crisis.jpg" title="A desperate businessman, with an unbuttoned collar and a loose nektie, looking depressingly at the few dollars in front of him on the table, illustrating the poor economic situation" class="shutterset_singlepic55" >
	<img class="ngg-singlepic ngg-left" src="http://www.36clicks.nl/wp-content/gallery/cache/55__320x240_36c_financial-crisis.jpg" alt="Financial Crisis" title="Financial Crisis" />
</a>
We supply too many images to (micro)stock agencies, and there are too many photographers to base a sustainable business model on for most of us. The suppliers market seems to be over-saturated.</p>
<p>On the other hand, microstock is rapidly gaining market share as cheap source of images for many purposes. The RF microstock pricing structure facilitates new buyers looking for alternative (and cheaper) outlets, due to the current financial situation. As the marketplace is changing, and microstock as business is maturing, competition grows. For the contributor, this means a rapidly growing challenge in meeting the changing image requirements in quantity and quality. This new &#8211; microstock &#8211; type of User Generated Content is eating away business from traditional stock agents as well as commissioned based photographers. Microstock has changed the photography business. Possibly forever.</p>
<p>All doom and gloom, or has this cloud a silver lining?</p>
<p><span id="more-129"></span></p>
<h3>Introduction, mindset and time frame</h3>
<p>I consider the current market situation in photography to be unstable. Reading various sources on the internet, in blogs, twitter, and in forums, I notice an increased weariness about the (micro)stock industry amongst contributors, and &#8211; to a lesser extend &#8211; stock agents. What you&#8217;re reading now, is the prelude of a series of articles, setting apart my thoughts on the future or photography, based on my experience, and what I see around me. I&#8217;m not a visionary, nor an economist or a marketing expert. Even though I&#8217;ve spent a large part of my professional career in Business Development and Innovation, I&#8217;m foremost a photographer.</p>
<p>I&#8217;ve been active in photography for more than a decade, slowly but surely expanding my business, before diving in head first, changing attributes from &#8220;advanced amateur&#8221; to &#8220;professional photographer&#8221; in 2004. Early 2007, I became involved in stock photography. I still consider myself to be starting out, building businesses.</p>
<h3>Chapter 1: From past to present</h3>
<p>2009 is a strange year. Even though the initial panic about the financial crisis is slowly ebbing away, the effects are still very much tangible. According to the experts, this will continue to influence businesses around the world for at least the next few years.<br />
In microstock, the current events indicate that there are also other important factors affecting the User Generated Content market, affecting the position of the contributor. A generalization:</p>
<h4>Supply and Demand</h4>
<ul>
<li>The demand in images still increasing.</li>
<li> The supply of images, by us, contributors, is extremely high, and the number of contributors is increasing too quickly to facilitate the growth in demand.</li>
</ul>
<h4>Changing market</h4>
<ul>
<li> From my own experience, large companies, who were previously hiring a photographer to shoot dedicated images, are now actively looking into sourcing their general purpose image needs from stock agencies.</li>
<li> Stock agents are adapting their strategy to facilitate emerging buyers market, by adapting their license terms, opening new outlet channels, and creating more segmented collections.</li>
<li> The difference between traditional stock agencies and microstock sites is slowly disappearing, with a professionalizing microstock market, and a traditional stock industry, focussing more and more on mid and microstock. The image stock industry is maturing rapidly.</li>
</ul>
<h4>The consequences</h4>
<p>The increased competition forces the royalty and pricing structures to be under pressure. As the image collection of the major players in the industry explodes, the importance of image requirements in terms of subject selection, image quality and legal indemnification by the contributor is increasing, but revenues are lagging behind. To put it differently: A photographer needs to work harder, producing higher quality to sell his (her) images at a price level that is in disproportion with the needed effort. Because of the average low market share in number of images, an individual photographer has barely any leverage with agents to have any influence on the changing marketplace.</p>
<h4>Changing business</h4>
<p>I sell images, and make a living out of it.  I&#8217;m currently selling the majority of my images for &#8220;pocket change&#8221;, ranging from $0,19 to $300 per individual sale, selling the same images over and over again. A few years ago, my core business solely consisted of commissioned work, with exclusive usage rights to our clients &#8211; selling a photo just once. The extremes in image pricing are staggering. A single commissioned image, made me roughly 130.000(!) times more than some of the subscription sales nowadays.<br />
A realistic breakdown of the math, using fictions numbers (expenses and taxes excluded, inflation compensation included):</p>
<table border="0">
<tbody>
<tr style="text-align: center;">
<td></td>
<td><strong>A few years ago</strong></td>
<td><strong>Now (stock only)</strong></td>
<td><strong>Now (commissioned only)</strong></td>
</tr>
<tr>
<td>Average revenue per sold image</td>
<td style="text-align: center;">~ $3.500</td>
<td style="text-align: center;">~ $2,50</td>
<td style="text-align: center;">~ $1.250</td>
</tr>
<tr>
<td>Average production time per image</td>
<td style="text-align: center;">~ 1.5 weeks</td>
<td style="text-align: center;">15 minutes</td>
<td style="text-align: center;">~ 1 week</td>
</tr>
<tr>
<td>Image use</td>
<td style="text-align: center;">Large corporate campaigns</td>
<td style="text-align: center;">Some website</td>
<td style="text-align: center;">Marketing campaigns</td>
</tr>
<tr>
<td>Number of sales per image</td>
<td style="text-align: center;">1</td>
<td style="text-align: center;">&gt; 100</td>
<td style="text-align: center;">1</td>
</tr>
<tr>
<td>License</td>
<td style="text-align: center;">Exclusive usage</td>
<td style="text-align: center;">Royalty Free / Rights Managed</td>
<td style="text-align: center;">Exclusive or Limited share usage</td>
</tr>
<tr>
<td>Number of sales per year</td>
<td style="text-align: center;">~ 25</td>
<td style="text-align: center;">~ 24000</td>
<td style="text-align: center;">~ 30</td>
</tr>
<tr>
<td>Average Annual turnover</td>
<td style="text-align: center;">~ $90.000</td>
<td style="text-align: center;">~ $60.000</td>
<td style="text-align: center;">~ $37.500</td>
</tr>
</tbody>
</table>
<p>
<a href="http://www.36clicks.nl/wp-content/gallery/business-concepts/36c_self-motivation-copy.jpg" title="Conceptual theme, expressing self motivation in times of difficulty" class="shutterset_singlepic89" >
	<img class="ngg-singlepic ngg-left" src="http://www.36clicks.nl/wp-content/gallery/cache/89__320x240_36c_self-motivation-copy.jpg" alt="Self motivation" title="Self motivation" />
</a>
All in all, the grand total remains roughly the same, In addition to this, the total production costs for stock images (planning, model fees, travel costs, assistant fees, image selection, and not to mention acquisition) are substantially lower than for commissioned work. The comparison shows the net worth of an image has devaluated. Images are sold cheaper, against more lenient conditions. This is compensated by an increase in number of sales. Considering the current developments in the market, there&#8217;s little leverage to bring this effect to a halt.</p>
<h4>Obserbvations</h4>
<ul>
<li> Prematurely, my commissioned work seems to be picking up again, the number of requests is still lower than in the past, and the size of the tenders are, generally speaking, smaller. I anticipate commissioned work will not fully recover.</li>
<li>Trend analysis, innovation and concept development, needed to assess and meet the customers&#8217; demands, require much more market insight (and thus time!) than before. I find this challenge a valuable addition to my business, as it also stimulates creativity.</li>
<li> The production quantity of images has increased big time, requiring more computer hardware, processing capacity and storage space, as well as a change in workflow.</li>
<li> I believe that the critical success factors in both lines of photography augment each other, improving skills and quality in both fields.</li>
<li> Investing time to build a stock portfolio a few years ago was a good decision. With the continuously changing market, it is yet again time to evaluate, and look ahead at the future.</li>
<li> If it weren&#8217;t for revenues through stock, my business would&#8217;ve been pretty close to filing a chapter 11. With request for commissioned work increasing again, my business is growing again.</li>
<li> With stock continuing to make up for an increasing portion of my turnover, I&#8217;m starting to miss the frequent contacts with my clients and users of my images.</li>
</ul>
<h4>To sum up</h4>
<p>
<a href="http://www.36clicks.nl/wp-content/gallery/business-concepts/36c_emerging-markets_dsc2160.jpg" title="A businessman wearing a suit presenting an oldfashioned globe, with Asia in front, illustrating emerging markets" class="shutterset_singlepic51" >
	<img class="ngg-singlepic ngg-right" src="http://www.36clicks.nl/wp-content/gallery/cache/51__320x240_36c_emerging-markets_dsc2160.jpg" alt="Emerging market" title="Emerging market" />
</a>
With a supply chain, which is over-saturated, with an aggressive competition between agents, and a change in buyer demands, the business continues to change at a high pace. The channels, through which images are sourced, have already begun adapting, but the majority of photographers is lagging behind. This makes sense, as the stock agents are for the most part rather large enterprises, compared to their suppliers &#8211; the photographers. The majority of photographers consist of hobbyists, or pro-photographers with a different core-business than shooting stock, and the few full time pros. Yet, we all need to change. Change is possible, and the changed situation also has a few positive side effects. The days of &#8220;business as usual&#8221; are over, and I believe that is a good thing, as &#8220;business as usual&#8221; is a creativity killer, and creativity is a bare necessity for any photographer. The market is professionalizing, and it is likely, that photographers, who refuse to adapt, will perish in this process, possibly bringing a bit of balance back to the supply and demand equation.<br />
Ways to change to a dynamic marketplace:</p>
<ul>
<li>Market and target your business</li>
<li> Build a brand (an oldie)</li>
<li> Choose between quantity or quality</li>
<li> Differentiate or diversify your products</li>
<li> Research the future to predict tomorrow&#8217;s customer demand</li>
<li> Increase efficiency and reduce costs (the open door)</li>
</ul>
<p>In the next few months, I intend to explore these methods more thoroughly, elaborating on each in a few more articles, and cross linking them, to put them into (my personalized) perspective. These articles will be published in random order.</p>
<h5><a href="http://www.dreamstime.com/self-critisism-rimage7945961-resi302064" target="_blank"><img class="alignleft" style="border: 0pt none; margin-left: 5px; margin-right: 5px;" title="Self Critisism" src="http://thumbs.dreamstime.com/thumb_359/1233181965JuW65T.jpg" border="0" alt="Self Critisism" width="263" height="350" /></a>Disclaimer:</h5>
<ul>
<li>This article is based on personal experiences, opinion and situations, and may or may not represent the actual situation.</li>
<li>Some statements are rather bold, and rough around the edges (or too feathered :)), and there are of course exceptions possible.</li>
<li>If you think there are any discrepancies or flaws in reasoning in this article, please let me know</li>
<li>As future events cannot be accurately predicted as of yet, other opinions are equally valid.</li>
<li>Care has been taken the sources used are accurate, but I cannot guarantee their accuracy.</li>
<li>I&#8217;m probably my own worst critic, and my views will change over time.</li>
</ul>
<p>If you have any thoughts on his please share them by leaving a comment!</p>
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		</item>
		<item>
		<title>Business concepts</title>
		<link>http://www.36clicks.nl/business-concepts/</link>
		<comments>http://www.36clicks.nl/business-concepts/#comments</comments>
		<pubDate>Sat, 25 Jul 2009 01:52:04 +0000</pubDate>
		<dc:creator>36clicks</dc:creator>
				<category><![CDATA[Portfolio]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[concept]]></category>
		<category><![CDATA[ego trip]]></category>
		<category><![CDATA[niche]]></category>
		<category><![CDATA[stock]]></category>
		<category><![CDATA[stockphotography]]></category>

		<guid isPermaLink="false">http://www.36clicks.nl/?p=99</guid>
		<description><![CDATA[<p>Reading time: < 1 minute</p>
<p>With a minimum effort &#8211; basically the result of trying out new lighting schemes on myself &#8211; I ended up with about a 50 different images of myself. Combining them into different conceptual groupings, all related to business methodologies, a vast series, quadrupling the number of shots needed, erected. This series [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: right; margin-left: 10px;"><a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.36clicks.nl%2Fbusiness-concepts%2F"><img src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.36clicks.nl%2Fbusiness-concepts%2F" height="61" width="51" /></a></div><p>Reading time: < 1 minute</p>
<p>With a minimum effort &#8211; basically the result of trying out new lighting schemes on myself &#8211; I ended up with about a 50 different images of myself. Combining them into different conceptual groupings, all related to business methodologies, a vast series, quadrupling the number of shots needed, erected. This series even won me an iPod in the Dreamstime Engineering competition.</p>

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<p>Thinking about the business methodologies and concepts, there is plenty of room to expand&#8230;.:)</p>
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		<title>36clicks on stock</title>
		<link>http://www.36clicks.nl/36clicks-on-stock/</link>
		<comments>http://www.36clicks.nl/36clicks-on-stock/#comments</comments>
		<pubDate>Mon, 20 Jul 2009 19:39:23 +0000</pubDate>
		<dc:creator>36clicks</dc:creator>
				<category><![CDATA[Latest news]]></category>
		<category><![CDATA[Portfolio]]></category>
		<category><![CDATA[microstock]]></category>
		<category><![CDATA[niche]]></category>

		<guid isPermaLink="false">http://www.36clicks.nl/?p=25</guid>
		<description><![CDATA[<p>Reading time: < 1 minute</p>
<p>After only 5 months online as Wolf on Stock, a lot of things have happened, which resulted in a bit of downtime, to put it mildly. But, we're back!</p>
<p>36clicks is now fully dedicated to stock photography, separating the name from my other businesses, and I've reserved this domain for stock related [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: right; margin-left: 10px;"><a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.36clicks.nl%2F36clicks-on-stock%2F"><img src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.36clicks.nl%2F36clicks-on-stock%2F" height="61" width="51" /></a></div><p>Reading time: < 1 minute</p>
<p>After only 5 months online as Wolf on Stock, a lot of things have happened, which resulted in a bit of downtime, to put it mildly. But, we're back!</p>
<p>36clicks is now fully dedicated to stock photography, separating the name from my other businesses, and I've reserved this domain for stock related issues only.</p>
<p>That's not all, folks! We also moved to a new provider, a new <a href="http://www.sog-ict.nl" target="_blank">host</a>, on a new server in a new datacenter. This also gave me the a nice photo-op, to extend the technological niches I tend to shoot. All photos are available through <a href="http://www.36clicks.nl/buyersguide/">my agents</a>.</p>

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<p>I&#8217;ve got quite a few topics in the pipeline, let&#8217;s see when I get around to actualy typing a few blurbs about them&#8230; :)</p>
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		<title>Find your niche in (micro)stock &#8211; updated</title>
		<link>http://www.36clicks.nl/find-your-niche-in-microstock-updated/</link>
		<comments>http://www.36clicks.nl/find-your-niche-in-microstock-updated/#comments</comments>
		<pubDate>Tue, 21 Apr 2009 14:56:05 +0000</pubDate>
		<dc:creator>36clicks</dc:creator>
				<category><![CDATA[For Photographers]]></category>
		<category><![CDATA[A Photography business]]></category>
		<category><![CDATA[microstock]]></category>
		<category><![CDATA[niche]]></category>
		<category><![CDATA[picniche]]></category>
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		<guid isPermaLink="false">http://www.36clicks.nl/?p=13</guid>
		<description><![CDATA[<p>Reading time: 4 &#8211; 7 minutes</p>
<p>Following up on my previous post on finding your niche in (micro)stock, I&#8217;d like to draw your attention to a very useful tool in assessing if what you have in mind is a potential niche to be explored; picNiche</p>
<p>Also, there is an interesting article for comparison on mystockphoto worth checking [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: right; margin-left: 10px;"><a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.36clicks.nl%2Ffind-your-niche-in-microstock-updated%2F"><img src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.36clicks.nl%2Ffind-your-niche-in-microstock-updated%2F" height="61" width="51" /></a></div><p>Reading time: 4 &#8211; 7 minutes</p>
<p>Following up on my previous post on finding your niche in (micro)stock, I&#8217;d like to draw your attention to a very useful tool in assessing if what you have in mind is a potential niche to be explored; <a href="http://www.picniche.com">picNiche</a></p>
<p>Also, there is an interesting article for comparison on <a href="http://www.mystockphoto.org/" target="_blank">mystockphoto</a> worth checking out (and not just in respect to finding your niche!).</p>
<p>Thanks to Roberto Marinello and Bob Davies for re-drawing my attention to this subject!</p>
<p><span id="more-13"></span></p>
<p><a href="http://www.picniche.com" target="_blank">PicNiche</a> is a simple looking tool, but it&#8217;s far more elaborate than at first meets the eye. It works very straight forward:  you can enter your primary keyword or set of keywords, and it renders a few useful, yet basic, statistics after pressing the submit (analyse) button.</p>
<p>It&#8217;ll show you how many images, matching the criteria you entered, were found, how many views those images have generated, as well as how many times the matching images were downloaded. Essentially, this information is key to assessing if you&#8217;ve found a niche or not, but picNiche does more.</p>
<p>In picNiches own words:</p>
<blockquote><p>picNiche is an easy to use keyword search tool for assessing the supply  					and demand of online stock photography images from microstock sites.</p>
<p>You search for a keyword phrase such as &#8216;business man&#8217; or &#8216;orange  					socks&#8217; and the search system assesses the sales statistics (demand) for images  					found relating to that search, along with the competition (supply) for that  					phrase, and returns a rating indicating the likelihood of making a sale as a  					result of that keyword phrase on your image.</p>
<p>The system rates keywords on an open-ended scale, so performing multiple  					searches will provide you with the highest rated keywords, those most likely to  					make a sale.</p>
<p style="font-weight: bold;">Rating &lt; 10 is BAD<br />
Rating &gt; 10 and &lt; 50 is OK<br />
Rating &gt; 50 and &lt; 100 is GOOD<br />
Rating &gt; 100 is a NICHE</p></blockquote>
<h5>Thoughts and observations on picNiche</h5>
<p>I believe this is a very helpful added value of picNiche. Having toyed around with it a bit, its definitely something I&#8217;ll be using frequently to select and prepare my shoots.</p>
<p>However, as with all tools, the information provided should be handled with care, though. The information you get out of it is as reliable as the information you&#8217;ve put in. (BS in = BS out) To illustrate this:</p>
<address>The niche-rating for &#8220;flower&#8221; = 0,07</address>
<address>If you make a typo (an obvious one in this example)</address>
<address>the niche-rating for &#8220;flowr&#8221; =  959.11 </address>
<p>As picNiche makes optimal use of User Generated Content, it is also very much reliant on how other users have keyworded their images, and we all know there&#8217;s a lot of spamming going around. The consequence of this, is that very specific keywords, or sets of keywords put together with quotation marks might render a lower niche rating than more generic terms. Going too generic in search phrases, however, will also reduce the niche rating.</p>
<p>Example:</p>
<address>The niche rating for &#8220;water treatment plant&#8221; (with quotation marks) = 15,67</address>
<address>The niche-rating for water treatment plant (without quotation marks) = 102,02</address>
<address>The niche-rating for plant = 0,08<br />
</address>
<address> </address>
<p><a href="http://www.shutterstock.com/pic-15202585.html/?ref=94199" target="_blank"><img class="alignleft" title="Water treatment plant" src="http://69.90.174.252/photos/display_pic_with_logo/94199/94199,1216708638,5.jpg" alt="" width="450" height="320" /></a>In light of the presumed higher number of purchases generated with the words &#8220;<em>water</em>&#8220;, &#8220;<em>treatment</em>&#8221; or &#8220;<em>plant </em>&#8220;, this makes sense. However, neither <em>water</em> nor <em>treatment</em> or <em>plant</em> alone necessarily refers to a &#8220;blast furnace&#8221;, thus stretching the query beyond the researched niche.</p>
<p>Another thing to bear in mind, is that picNiche does not seem to incorporate the actual buyer&#8217;s search terms with which the image was found and purchased &#8211; in other words, it remains very important to use common sense and try to think from a buyers perspective when choosing the keywords. Then, there is the complicating factor of iStock&#8217;s controlled vocabulary and keyword culling policies, which could well affect the results negatively.</p>
<p>The keyword tool picNiche offers is great to get ideas, and to check if the set of keywords entered is complete. As stated on picNiche.com:</p>
<blockquote><p>These keywords are suggestions ONLY, any which do not describe the content of YOUR image, will NOT help your sales, and may even harm them, please use only as a guide</p></blockquote>
<p>Needless to say, a high niche-rating is no guarantees for high sales. In the end, it comes down to the quality, composition and styling of your images, and how well they are keyworded. The line of thought:</p>
<p><em>&#8220;Hmmm; According to picNiche, &#8220;courthouse&#8221; (953 images) only has a niche-rating of 40,92, but &#8220;courthouse&#8221; AND &#8220;judge&#8221; has a niche-rating of 266,5 (282 images), so let&#8217;s get that judge there!&#8221;</em> remains a dangerous conclusion. Adding the word &#8220;felony&#8221; to the query will reduce the niche-rating to 210,00 (2 images), however, I&#8217;m inclined to believe that&#8217;s mostly due to the scarcity of images that include all of those keywords, rather than a reduced demand for such images.</p>
<h5>Toolbars</h5>
<p>Another killer feature of picNiche is the firefox toolbar Bob offers. Won&#8217;t go into details here, as I couldn&#8217;t possibly top the review on <a href="http://www.microstockdiaries.com/picniche-toolbars.html" target="_blank">microstockdiaries.com</a></p>
<h5>Conclusion</h5>
<p>Eventhough I initially looked over the tremendous potential of picNiche, I believe it&#8217;s an oustanding tool to determine niches and possible sales potential, as it is the only tool I know of that combines demand and supply in one, measurable, factor. But this only applies if handled with care and a bit of thought. I sure hope Bob Davies will continue his work on these tools, and perhaps eventually do his superb work more justice by spending a bit of time in a more fitting presentation?</p>
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		<title>Find your niche in (micro)stock</title>
		<link>http://www.36clicks.nl/find-your-niche-in-microstock/</link>
		<comments>http://www.36clicks.nl/find-your-niche-in-microstock/#comments</comments>
		<pubDate>Fri, 27 Mar 2009 14:47:50 +0000</pubDate>
		<dc:creator>36clicks</dc:creator>
				<category><![CDATA[For Photographers]]></category>
		<category><![CDATA[dreamstime]]></category>
		<category><![CDATA[fotolia]]></category>
		<category><![CDATA[istockphoto]]></category>
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		<guid isPermaLink="false">http://www.36clicks.nl/?p=7</guid>
		<description><![CDATA[<p>Reading time: 10 &#8211; 16 minutes</p>
<p>It&#8217;s splattered all over the various forums of microstock agents: If you want to be successful in stock, build a large portfolio. Aim for a versatile collection of images, as that ensures a wide spread interest from buyers, designers, and such, and thus realises sales and generates revenues. All very [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: right; margin-left: 10px;"><a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.36clicks.nl%2Ffind-your-niche-in-microstock%2F"><img src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.36clicks.nl%2Ffind-your-niche-in-microstock%2F" height="61" width="51" /></a></div><p>Reading time: 10 &#8211; 16 minutes</p>
<p><a href="http://www.36clicks.nl/wp-content/uploads/2009/03/Studying_DSC2150.jpg"><img class="alignleft size-medium wp-image-222" title="Studying businessman" src="http://www.36clicks.nl/wp-content/uploads/2009/03/Studying_DSC2150-300x174.jpg" alt="" width="300" height="174" /></a>It&#8217;s splattered all over the various forums of microstock agents: If you want to be successful in stock, build a large portfolio. Aim for a versatile collection of images, as that ensures a wide spread interest from buyers, designers, and such, and thus realises sales and generates revenues. All very well intended opinions, shared by the big names in microstock.</p>
<p>Outstanding! Now that&#8217;s something to aim for, then! Pick up that camera, and go shoot everything around you. If it moves &#8211; even better, right? &#8211; Wrong.</p>
<p><a href="http://www.dreamstime.com/self-employment-rimage7681505-resi302064" target="_blank"><img class="alignleft" style="border: 0pt none; margin-left: 0px; margin-right: 35px;" src="http://thumbs.dreamstime.com/thumb_352/1231442286uD5YuZ.jpg" border="0" alt="Self Employment" width="300" height="165" /></a>Five tips to build a porfolio that stands out, and can potentially make you some cash:</p>
<ol>
<li>Do your searches. Start with popular themes, such as &#8220;business  handshake&#8221;,  which&#8217;ll generate a lot of hits of high selling images. I</li>
<li>Don&#8217;t copy what&#8217;s already popular unless you manage to find a new, refreshing, approach, targetting new prospective buyers</li>
<li>Go take a good look at the popular images. Forget what those images are about, but remember the style. you&#8217;ll notice a crispness and refreshing style, that sells</li>
<li>Try narrowing down the search query to a theme that complies with two rules: the subject of the photos is accessible to you, and there are only a handfull of images depicting that same theme. If you find a search that results in a few images with a lot of sales, then you&#8217;ve found a niche.</li>
<li>Expand that niche. What could images of that readily accessible subject be used for? How many angles of use can you identify? And how different would photos using that share the same theme look for different uses?</li>
</ol>
<p><span id="more-7"></span></p>
<p>Let&#8217;s analyse the situation, and see where that advise originates. I&#8217;m all for a large portfolio, and will be the first to acknowledge, that size, in this case, does matter. The more photos you have in your portfolio, the higher chances are, they will be noticed by prospected buyers,who will then surf on to your portfolio for that one image they need for their project. But, to put it simple, if the storefront looks great, but the interior is a mess, or you end up in a pet store whilst being allergic to animals, you&#8217;re not in the right place, and you&#8217;ll find your way out in no-time, never to return. With a stock portfolio, it&#8217;s the same. If buyers don&#8217;t see what they&#8217;re looking for, they&#8217;re gone, and before you know it, your images will be tucked far away in the darkest realms of the search pages.</p>
<p>The big players in (micro)stock have collections of several 10&#8217;s of thousands of high quality photos. Most of them have been around since 2004 or 2005, and have learned the tricks of the trade. They have literally spent years in perfecting those tricks, and in assessing the efficiency in terms of generated revenues, by exploring new things. Remember, as microstock is only reaching maturity, in 2004, or even 2006, a lot of things were still new. Back then, it was presumably easier to figure out which images would sell, and which images won&#8217;t. And in due course, the themes that sell became apparent to a following crowd of microstock contributors, who started copying what once was hot. The top contributors now take a professional &#8211; and full time &#8211; approach to finding and exploiting hot themes, backed up by experience and a production mentality. That&#8217;s a tough proposition to compete with.</p>
<h5>1. Do your searches</h5>
<p>At any time, its important to know what&#8217;s hot and what&#8217;s not. It tells you what has sold a lot &#8211; note the past tense! Therefore, it&#8217;s also important to establish how long it took to generate so many downloads. And while you&#8217;re at it, browse through the contributors portfolio, to see what more he (or she) has to offer. This is all common sense, and generates proper competition intelligence, but also will stimulate your creativity by forming an opinion about the top selling images you see. It&#8217;s important not to try to copy those best selling images, as it&#8217;s a David versus Goliath proposition, where David (your imitated file) is bound to lose, and it&#8217;ll prevent you from developing your own style, brand and the fingerprint feel of your images by which clients might eventually recognise your portfolio.</p>
<p>Search for &#8220;business handshake&#8221;:</p>
<ul>
<li>on <a href="http://www.istockphoto.com/?refnum=36clicks" target="_blank">iStockphoto</a>, you&#8217;ll find <a href="http://www.istockphoto.com/file_search.php?action=file&amp;text=business+handshake&amp;oldtext=&amp;textDisambiguation=&amp;oldTextDisambiguation=&amp;majorterms=&amp;fileTypeSizePrice=[{%22type%22%3A%22Image%22%2C%22size%22%3A%22All%22%2C%22priceOption%22%3A1}%2C{%22type%22%3A%22Flash%22%2C%22size%22%3A%22Flash+Document%22%2C%22priceOption%22%3A%22None%22}%2C{%22type%22%3A%22Illustration+[Vector]%22%2C%22size%22%3A%22Vector+Image%22%2C%22priceOption%22%3A%22None%22}%2C{%22type%22%3A%22Video%22%2C%22size%22%3A%22None%22%2C%22priceOption%22%3A1}%2C{%22type%22%3A%22Standard+Audio%22%2C%22size%22%3A%22None%22%2C%22priceOption%22%3A%221%22}]&amp;showPeople=&amp;printAvailable=&amp;exclusiveArtists=&amp;extendedLicense=&amp;collectionPayAsYouGo=1&amp;collectionSubscription=1&amp;illustrationLimit=Exactly&amp;flashLimit=Exactly&amp;showDeactivatedFiles=&amp;membername=&amp;userID=&amp;lightboxID=&amp;downloaderID=&amp;approverID=&amp;clearanceBin=&amp;color=&amp;copySpace=&amp;orientation=7&amp;minWidth=0&amp;minHeight=0&amp;showTitle=1&amp;showContributor=1&amp;showFileNumber=1&amp;showDownload=1&amp;enableLoupe=1&amp;order=Best+match&amp;perPage=&amp;tempo=All&amp;audioKey=All&amp;timeSignature1=All&amp;timeSignature2=All&amp;within=4&amp;refnum=36clicks" target="_blank">3379</a> results.</li>
<li>on <a href="http://www.shutterstock.com/gallery.mhtml?id=94199&amp;rid=94199" target="_blank">Shutterstock</a>, you&#8217;ll find <a href="http://www.shutterstock.com/results.mhtml#search_group=&amp;lang=en&amp;searchterm=business%20handshake&amp;x=0y=0&amp;rid=94199" target="_blank">6895</a> results</li>
<li>on <a href="http://eu.fotolia.com/partner/335567" target="_blank">Fotolia</a>, you&#8217;ll find <a href="http://eu.fotolia.com/search?k=business+handshake&amp;search.x=0&amp;search.y=0&amp;filters[content_type%3Aphoto]=1&amp;filters[content_type%3Aillustration]=1&amp;filters[content_type%3Avector]=1&amp;order=relevance/partner/335567" target="_blank">5544</a> results</li>
</ul>
<p>Considering the above agents have a collection of 2,000,000 to 6,000,000 photos those search results may not seem like a lot, and I&#8217;m sure you can come up with queries that result in far more images, but &#8220;business handshake&#8221; is already pretty precise, narrow it down to hands of businesspeople. I&#8217;m sure you&#8217;ll get my drift. (business alone generates 541,702 hits on shutterstock, for example)</p>
<h5>2. Try to improve on what already has been done!</h5>
<p>The key in such a search is to stimulate your own creativity &#8211; <a href="http://www.wolfdesign.nl/?p=20">a trick that can be taught</a> &#8211; Try to describe &#8220;the feel&#8221; of the images that appeal to you, and then think about how to achieve and perfect that feel in your own style.  Also think about what you whould have done if it were you taking the photo,what you would&#8217;ve done differently, and try to guess the photographers motivation for his (or her) choice, resulting in the image you&#8217;re looking at. This is, as far as I&#8217;m concerned, the most important revelation of analysing top images, but a difficult one. If answering those questions result in a flow of new ideas and approaches, then there&#8217;s nothing stopping you form staging such a photo shoot. If you don&#8217;t, then pursuing other themes might be more advisable.</p>
<h5>3. Analyse the general impact, feel and image quality of top sellers.</h5>
<p>If you perform a similar search, as discussed above, you might notice something else: the clarity, vibrance and crispness &#8211; the general impact &#8211; of the images on the first pages makes even the thumbnail pop out from the screen. Browsing further back through the pages, images become sulkier, lacking contrast and thus also appeal. Try to describe &#8220;the feel&#8221; of the images that appeal to you, and then think about how to achieve and perfect that feel in your own style. This is, as far as I&#8217;m concerned, the most important revelation of analysing top images, and one I&#8217;m still struggling with. From experience, meticulous planning of a photo shoot plays a vital element in the quality of the final result.</p>
<h5>4. Find your niche</h5>
<p>By just looking at the astronomical number of sales of one of the top selling images, it might be tempting to try to achieve a similar type of image. However, I think you&#8217;ll find your chances improve by finding your niche. Although finding such a niche might be easier said than done, it is very well possible. If you apply the same types and techniques I described above to subjects and themes in your own personal sphere and surroundings, you are already half way there. Think which locations, what people, and which themes are easily accessible to you, and with which you feel at ease and confident. Explore the potential messages you could capture at such locations, and start planning a first shoot. Having knowlegde and experience in that area will definitely help to provide you with an a competitive edge. Then perform a few searches, using the prime keywords you would use to describe your idea. If you notice that those queries only result in a handful of decently selling images, then you might have found your niche.</p>
<div class="wp-caption alignleft" style="width: 310px"><a href="http://www.dreamstime.com/petrochemical-industry-rimage2638648-resi302064" target="_blank"><img style="border: 0pt none; margin-left: 5px; margin-right: 5px;" title="Petrochemical Industry" src="http://thumbs.dreamstime.com/thumb_158/11824347236NAMdD.jpg" border="0" alt="Petrochemical Industry" width="300" height="199" /></a><p class="wp-caption-text">Beautiful technology (ambiguous) as niche</p></div>
<p>As this might still sound a bit ambiguous, I&#8217;ll give you an example from my own experience. Being an industrial designer by education, I have worked for a large steel manufacturer for several years. This strengthened my passion for- and knowledge of technology, as well as sheer enormous structures. I decided to combine that competitive edge with my passion for night photography, motion, and long exposures. This resulted in what is now the top tier of my selling images, generating roughly 75% of the total revenues earned. My niche themes range from infrastructure (bridges, motorways, intersections, to logistics and construction. (off topic &#8211; <a href="http://www.lookstat.com" target="_blank">Lookstat</a> is a great tool to analyse the performance of individual images over time)  The absolute sales figures are still far from impressive, but considering I&#8217;m only a small-time microstock shooter, I&#8217;d like to think those images have served me pretty well.</p>
<div class="wp-caption alignright" style="width: 310px"><a href="http://www.dreamstime.com/washington-pass-rimage5512935-resi302064" target="_blank"><img style="border: 0pt none; margin-left: 5px; margin-right: 5px;" title="North Cascades National park" src="http://thumbs.dreamstime.com/thumb_281/1214053413F2UdIA.jpg" border="0" alt="Washington Pass" width="300" height="223" /></a><p class="wp-caption-text">Good image, very little sales</p></div>
<p>The other end of the stick is also quite familiar to me. I have a huge collection of landscape and travel photos, which are lovely to look at, but with one or two exceptions, that collection stays well behind in sales, and quite frankly, most of them are still gathering digital dust on one of my hard drives.</p>
<h5>5. Expanding your nice</h5>
<p>After a first exploration of your newly discovered niche, get about 10 &#8211; 25 images online at your agents, and follow closely how they&#8217;re received. If you receive quite a few &#8220;abundant category&#8221; rejection, then it&#8217;s best to get back to the drawing board. On the other hand, if &#8211; depending on the agency &#8211; your images start selling almost immediately, are added to lightboxes or receive special recognition(initial ratings, editor&#8217;s choice), then you might be on to something.</p>
<div class="wp-caption alignleft" style="width: 310px"><a href="http://www.dreamstime.com/night-drive-rimage4751267-resi302064"><img style="border: 0pt none; margin-left: 5px; margin-right: 5px;" title="Dynamic Traffic" src="http://thumbs.dreamstime.com/thumb_254/1206995523Fp00m6.jpg" border="0" alt="Night Drive" width="300" height="300" /></a><p class="wp-caption-text">Expanding the niche in transportation</p></div>
<p>The next step is to carefully examine the performance of individual images from that series. Try to determine what messages and concepts seem to be favoured by the prospected clients. Then start diverging to both improving the general appeal of that message, as well as to think of other potential markets with the same theme.</p>
<div class="wp-caption alignright" style="width: 310px"><a href="http://www.dreamstime.com/heavy-industry-rimage5824165-resi302064" target="_blank"><img style="border: 0pt none; margin: 5px;" title="Blast furnace exhausts" src="http://thumbs.dreamstime.com/thumb_292/1216642373XpVhvl.jpg" border="0" alt="Heavy Industry" width="300" height="218" /></a><p class="wp-caption-text">Friendly industry: pure steam (water)</p></div>
<p>Using my technology series as example, one could easily think of themes such as global warming, environmental damage and pollution as possible uses. Yet the reverse concept &#8211; illustrating heavy industry in a positive and more friendly concept &#8211; is also a valid &#8211; more positive &#8211; aspects to cover. Then, there are various other another angles that could covered:  the current economic situation, triggering the decline of production, the hassle of commuting through heavy traffic by car in urban regions, or introducing the human element in the above mentioned examples to illustrate either the downside of automation, or the positive side of quality control. If executed properly, capturing these different themes will result in different images, thus creating a versatile collection of images, all derived from the same basic niche.</p>
<h5><a href="http://www.dreamstime.com/self-critisism-rimage7945961-resi302064" target="_blank"><img class="alignleft" style="border: 0pt none; margin-left: 5px; margin-right: 5px;" title="Self Critisism" src="http://thumbs.dreamstime.com/thumb_359/1233181965JuW65T.jpg" border="0" alt="Self Critisism" width="263" height="350" /></a>Disclaimer:</h5>
<ul>
<li>These tips are derived from my personal experiences, and may or may not work for everybody.</li>
<li>The steps described can be applied and will have a positive effect, but there are other ways, too, which might even work better.</li>
<li>I&#8217;m still refining the process of finding a niche and exploiting it.</li>
</ul>
<p>If you have any thoughts on his please share them by leaving a comment!</p>
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