I had discussed eBook sale technique in my previous set of articles. While that is lucrative, the process is slow. You need min. one week to simply get the eBook ready. You then require a mode to market it and get the sales. It takes weeks to get the eBook ready and months to make the sales.
Need similar earning opportunities in bit lesser time? Go for stock photography. You just need an image for which you own copyrights. You hardly require a day (or two) to acquire that. Rest of the process is simpler. You just get your 1st sales in around 2 weeks after you started working on your idea.
Stock photography is either Royalty free OR Rights Managed.
For Royalty free, the users need to pay one time and get the license purchased. They can then use the same as many times as they wish to. Once, the license is purchased, all the rights are automatically transferred to them.
For Rights Managed images, users need to purchase rights. These rights can include (but not limited to) usage, duration, size, print run, exclusivity etc. The main purpose is to prevent 2 people from using the same image in a conflicting manner.
It is your choice as a photographer to decide exactly which category you want. You get to choose what happens which your image accordingly.
You have 2 options – either go for stock photography websites OR go for your own websites to market your images. The risks are similar as they were in ebook marketing case.
If you run your own website, you need to have decent traffic to start getting the sales you desire. You also need to have the technical knowledge.
However, if you plan to signup on stock photography websites, you can skip traffic generation modes. Just a right strategy is required to make your first sales.
The price needs to be managed well. It is recommended to keep it at a min. say $ 8 – 9 if you are using for first time.
Keeping a bare minima price can prove beneficial initially. This way, you can reach as many audience as you want. More customers means more sales and more sales will mean more revenues.
In order to market an image well, cost differentiation is the right technique.
Please tell your opinions & experiences via comments.