Veer Marketplace Answers Customer Demand

Posted on 2/9/2009 by Julia Dudnik Stern | Printable Version | Comments (0)

“The overall market today increasingly demands images that address needs across all price spectrums—traditional and microstock. More and more Veer customers desired a broader offering. The Veer brand needed to deliver on this,” says former Veer executive Nairn Nerland, who now holds the post of senior vice president, networks, Corbis.

Through Veer’s traditional business, the company knew its customers already used microstock and wanted to offer them a budget product: the Veer Marketplace. Then, Corbis decided to roll its existing microstock business SnapVillage into its latest acquisition. In last week’s announcement of this plan, the company said that it now realized it needed a bigger and better microstock presence.

What was wrong with SnapVillage? Nothing, according to Nerland. “It was an issue of where to best apply our resources,” he explains.

Nerland also stresses SnapVillage accomplishments, such as gathering 600,000 images and 7,000 members, introducing new features—such as community tagging, comments and image sets—and attracting a large number of first-time buyers of stock photography, who were previously put off by the complexity of traditional micros.

Yet the Veer Marketplace will be very much like a traditional micro. After an a la carte phase, during which images will be sold at fixed size-dependent prices ranging from $1 to $20, the Marketplace will offer credit-based pricing and subscriptions.

SnapVillage’s pick-your-own-price method of establishing licensing fees will be phased out along with the URL. “We found contributors struggled with this price model. In turn, it affected the customer experience: They could not understand why images were priced differently,” said Nerland.

Another SnapVillage lesson, he said, was the need to provide a “seamless, engaging and rich experience for contributors, including bulk upload tools.” The biggest criticism of SnapVillage at the time of its launch was the lack of industry-standard features, such as FTP image upload capability.

Nerland also said that Veer’s track record will enable the company to market its microstock offering more successfully.

During the first phase, Veer Marketplace will continue paying SnapVillage’s 30% contributor commission. Though Nerland said that offering royalty structures that suit suppliers was a priority, he declined to discuss the commission structure ultimately planned for the new microstock business.

Copyright © 2009 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


Be the first to comment below.

Post Comment

Please log in or create an account to post comments.

Stay Connected

Sign up to receive email notification when new stories are posted.

Follow Us

Free Stuff

Stock Photo Pricing: The Future
In the last two years I have written a lot about stock photo pricing and its downward slide. If you have time over the holidays you may want to review some of these stories as you plan your strategy ...
Read More
Future Of Stock Photography
If you’re a photographer that counts on the licensing of stock images to provide a portion of your annual income the following are a few stories you should read. In the past decade stock photography ...
Read More
Blockchain Stories
The opening session at this year’s CEPIC Congress in Berlin on May 30, 2018 is entitled “Can Blockchain be applied to the Photo Industry?” For those who would like to know more about the existing blo...
Read More
2017 Stories Worth Reviewing
The following are links to some 2017 and early 2018 stories that might be worth reviewing as we move into the new year.
Read More
Stories Related To Stock Photo Pricing
The following are links to stories that deal with stock photo pricing trends. Probably the biggest problem the industry has faced in recent years has been the steady decline in prices for the use of ...
Read More
Stock Photo Prices: The Future
This story is FREE. Feel free to pass it along to anyone interested in licensing their work as stock photography. On October 23rd at the DMLA 2017 Conference in New York there will be a panel discuss...
Read More
Important Stock Photo Industry Issues
Here are links to recent stories that deal with three major issues for the stock photo industry – Revenue Growth Potential, Setting Bottom Line On Pricing and Future Production Sources.
Read More
Recent Stories – Summer 2016
If you’ve been shooting all summer and haven’t had time to keep up with your reading here are links to a few stories you might want to check out as we move into the fall. To begin, be sure to complet...
Read More
Corbis Acquisition by VCG/Getty Images
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Gett...
Read More
Finding The Right Image
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides...
Read More

More from Free Stuff