You asked questions on a number of threads. So I thought I'd start a new one here that sort of answers all of them from my perspective.
The first few months can seem like an awful lot of work for not much return. However, as you proceed the effects seem to me to be more than steady growth. There is a certain exponential quality to the growth. I can't back that up with hard stats, but I can tell you that several things happen:
1. Your images improve and get more "microstock" friendly as you learn what works
2. Less of your images get rejected for the same reason
3. The simply geometry of adding images on top of more images
4. Sometimes sites/MS agencies may court you
5. You get better and faster at the submission process
6. The stars fall into the correct alignment
All that said, there are very few people getting rich. However, I think you might be able to adjust your numbers (from one of your posts) up a bit. Maybe. It just depends on how tenacious you are.
If not getting rich (and there may be a couple who are) there are people who make a solid living on MicroStock. That's my plan. I'm a filmmaker and commercial photographer. I've worked professionally in the media all my professional life. So I have some understanding of how things work. Not always right on, but at least a feel for all of it. So I do microstock as my full-time job when I'm not working on a freelance project of some sort. That means I work every weekday, all day, at either a project I'm being paid for by a client or at microstock.
In about 9 months I've built...from scratch...a portfolio of 1,000 images. About 85% of those are people images. More on that in a moment...
When i started I thought, "hey, I've got some cool images...I'll sell those." What I learned is that microstock requires shooting in a different way. Many of my old images were shot at ISO 400. Fine for any other application...but too much noise for MicroStock. I had to learn the trade and really get my ego clipped a few times. Funny, now I don't worry at all about rejections. My acceptance rate varies from 68% on IStock to about 85% or 90% everywhere else. Mostly because I fix problems now before they have to point them out to me.
You asked about subject matter and story. I'm probably a little different than many. I shoot what I like, including idiosyncratic stuff, and submit it all. (Check out here if you want to see what I mean: http://www.photospin.com/directory-ad-listing.asp?user_id=522 ) My buy rates are probably lower than some of the best. However, because I do mostly people, my sales are still pretty good.
I do like to do business metaphors and funny people doing funny things. I try to mix a lot of props and situational stuff. I often compose with LOTS of copy space. I'll do several versions of any shot, including having the person look to where copy might appear.
I have a very good friend who is an amazing photographer. He does big hotel chains, colleges, etc. It mystifies him that I get as much talent to be in my shots for TFP as I do. here's how I do it. Offer your services to actors, models, musicians, etc. Trade the images for their signature on a release that lets you use them elsewhere. Find good models and use them more than once.
I also offer services which I would typically charge for in trade for services. The company that provides our organic produce and the musician who teaches our son guitar and vocals, for instance. I trade for their services AND work a deal where I can use images I take of them for microstock.
It's amazing. if you are good, when people find out that you are a photographer they will sort of sheepishly approach. "Hey, i was thinking of doing some shots for my website..." or something like that. You can charge them. Of course.
Finally, there seem to be two modes of thought. One is go exclusive with ISTock as soon as you can. The second is to put your images out there to as many places as possible. I don't know many people who are exclusive at sites other than IStock. I'm not sure the numbers work...but I could be wrong. maybe Dreamstime or Fotolia or StockXpert can payoff enough. I think IStock probably has the exclusive thing locked up as they seem to be the consistent best seller.
I choose the latter. Lost of images at lots of sites. I review my sales every now and then and cut a site loose. However, if they are very easy to submit to, I'll keep them on even if sales are slow. If they are time-consuming to submit to I will stop throwing images up for a while and keep an eye on them to see if they sell anything.
You mentioned that it may take months for the first sale. My experience is that is not the case. Good images seem to take off fairly well right away. In fact, there is a sort of halo in the first month or so.
I have three kinds of images:
+Sell well right away and tail off quickly
+Sell steadily over time
+Sell one or two and vanish
Of course, I try to analyze the sales and do as many of the "sell steadily over time" shots as possible. I'm getting better at it.
Finally. To tell a story or not to tell a story. Your questions. I think the answer can be either. I just try to think about what a creative director, magazine editor, blogger, etc. will like and go with it. Think of current themes in the media and maybe explore some of those. Business metaphors. I sell a bunch of images of people wrapped up in red tape. It's fun and an immediate visual "story."
In my other life I sometimes direct TV commercials. We try to tell a story in 30 seconds. You have to introduce the characters in about 3 to 5 seconds. i think my photography should be like that (for microstock, anyway). There may be some hidden surprises, but I basically want people to figure it out in about 5 seconds MAX. How long does it take you to decide to turn a magazine page or stay for something interesting? maybe a second...maybe 2. Maybe less. So that's why big sort of emblematic stuff sell. In my opinion.
Charlie. All this is just one guy's perspective. I may be 100% wrong. Or 100% right for me but wrong for someone else. I do know a bit about the tials of getting started...and the curiosity of "can I make a career out of this?" My answer is, "Maybe."
I haven't done it yet myself. But I'm working on it.
Cheers,
Scott

