The US Economy Only Grew 2% But the Freelance Economy is Booming
By Cara Flett
Savvy Copywriters Can Earn More Money
While economists moan about the lackluster growth of the U.S. economy in 2016, there’s one segment that is booming. In fact it’s not only booming, freelance is the largest growing sector of the economy.
In 2016, HubSpot reports “35% of the US workforce,” or 55 million, had left traditional 9 to 5 jobs behind. They’re turning to freelance work.
And big businesses are taking notice too. A Deloitte 2016 Global Human Capital Trends study reveals that, “51 percent of global executives surveyed said their organizations plan to greatly increase the use of flexible and independent workers in the next three to five years.”
This means one thing: Freelance opportunities abound. And many of them are lucrative. According to Time, “in 2016, roughly 5 million U.S. freelancers earned more than $100,000 a year.”
Which begs the question.
If the demand for freelancers is growing, why did only 10% earn six-figures?
Because they were savvy enough to know how to price their services.
Knowing how to price your writing services is key for freelance success, otherwise you are just setting yourself up for failure.
The thorny dilemma of pricing your services
Here’s the thing to keep in mind: Freelance copywriters are a business, not a charity.
You can’t get to that six-figure mark if you are constantly undervaluing the work you do for clients. SEO copywriter Heather Lloyd-Martin says the best way to price your work is first determine what your monthly expenses are (both business and personal.) Then, increase that number by 35% … This is the base amount you’ll need to make just to keep your doors open.
And Dean Rieck writes in Men with Pens “Set your fees and stick to your guns.,” If you’re losing work because of your fees, it probably isn’t that you’re charging too much, but that you’re pursuing the wrong clients.”
So what other ways can you price your work that will put you on the path to six figures?
The 75 ways to price your services for success
Luckily, there’s a simple solution for copywriters to know how to price their services according to what they need, what they’re worth and what’s in line with industry standards.
It’s The State of the Industry Report: AWAI’S 2017 COPYWRTING PRICING GUIDE.
True to its claim, this detailed and thorough research guide helps copywriters get answers to their most pressing pricing issues.
It gives a price range for services that both newbies and experienced copywriters can use.
It lists specific ways to find clients who value copywriters as professionals.
Not only does it help copywriters put the right price tag on their work, it also shows them how to market their services and build skill sets according to “what’s working the best right now.”
Price professionally, while you grow your business
With AWAI’s 2017 COPYWRITING PRICING GUIDE in hand, savvy copywriters will know how to price their services to earn more, according to what they need, what they’re worth and what’s in line with industry standards.
They’ll have an arsenal of advice regarding current and trending copywriting opportunities to grow their business.
And they’ll have ways to measure their productivity and rank project types that work best for business-to-business (B2B) and business-to-customer (B2C). They’ll also have essential charts, statistics and examples to use in negotiations.
If you’re ready to leave pricing concerns behind and focus on getting better clients, taking on bigger projects and growing your business, click here now.
The Professional Writers’ Alliance
At last, a professional organization that caters to the needs of direct-response industry writers. Find out how membership can change the course of your career. Learn More »