11 May, 2011 | Posted by: st
Hold Back Or Move Forward ?
Times are tough
and they have been tough for a while. Many photographers are experiencing a drop in images sales and many publishers of magazines and books are trying to cut corners.
Cutting corners is often a necessary business practice when there's a downturn in the economy but the key to doing this right and not hurting your business instead of helping it, is to know what corners to cut
and what corners to leave alone
Generally speaking, you want to avoid cutting anything that generates income for you. This would include things like image production, marketing, trade publications, advertising, etc. The reason for this is that even though times might be tough now, theyíll be even tougher in the future
if youíre not ready when the market makes a resurgence. .
As you know by now, getting on the radar screens of photobuyers and staying there is the single most important thing
for your stock photo business. Cutting your advertising, marketing and similar areas is a surefire way of falling off that radar screen.
The dip in image usage is only temporary and when things get back to normal, you want to make absolutely certain that you are on the minds of all the photobuyers that are important to you.
Many successful businesses have increased, rather than decreased, marketing during rough times.
Good, professional marketing is the key to success for any business but this becomes even more important when times are rough. Why does it become more important?
Well, since there are fewer images being licensed there are fewer opportunities for your work to be selected over the work of a competitor. Even though the number of customers may still be the same, the number of sale-opportunities have shrunk.
So, increasing your share of the photobuying market can only be a plus. Even when times are rough. Targeted marketing
will bring you customers and once you have the customers contacting you, itís up to you to move forward and close the sale.
Photojournalist Mikael Karlsson has 20 years' experience of working for magazines and newspapers in more than 30 countries. He moved to the United States in 1998 from his native Sweden. He lives in Nebraska and is currently US correspondent for 11 Swedish magazines and a regular contributor to a wide variety of U.S. publications. Reach him at mike[at]photosource[dot]com.
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