More and more people are considering ditching their usual 9-5 jobs and turning their side hustle into a full-time gig. In fact, 57 million people worked as freelancers in 2019. Freelance marketing takes up 45% of the freelancing landscape.
But, what is freelance marketing exactly and how can you start your journey as a freelance marketer? Read on to find out.
What is Freelance Marketing?
A freelancer is someone who provides a service or skill without being associated with a company. As a freelancer, you’re your own boss. In freelance marketing, your job is to provide clients with marketing services or consultancy.
The duties of a freelance marketer include:
- Perform market research for clients’ target customer
- Create and execute a marketing strategy
- Establish and monitor KPI’s, or Key Performance Indicators
- Make Facebook and Google Ads
- Write sales and website Copy
- Build a sales funnel
- Write and edit blog posts
- Design promotional materials
Of course, the day-to-day tasks of a freelance marketer will depend on the clients’ needs and goals.
Now that we know what freelance marketing entails, let’s talk about some of the advantages that come with this career choice.
Advantages of Freelancing
When asked why they decided to freelance over 75% of people said it was so they could be their own boss. It’s clear that freelancing provides you with ultimate freedom but what are the other positives?
Set Your Own Hours
One of the biggest perks to the freelance life is that you can work whenever you want. There’s no clocking in or out, so you can work as much or as little as you desire.
Work Wherever You Want
Not only can you work whenever you want but there also isn’t a limit on your location. This means no stressful morning commute, you can work from your pj’s -- if that’s your thing.
Set Your Own Pay Rate
Freelancing gives you the opportunity to set your own price and get paid what you’re worth. Your pay rate as a freelance would typically be higher than what you’d make as an employee. This is because you have to cover overhead charges and be fairly compensated for your work.
Freelancers are in High Demand
More and more companies are outsourcing work. In fact, 34% of businesses outsource their digital marketing. Freelancers are ideal for businesses because less they are cheaper than employees and they eliminate the cost of benefits and payroll fees.
You Can Choose Your Work
As a freelance marketer, you have the choice to take on the clients and projects that speak to you. If you don’t like a particular client, you can even let them go.
Happier and Balanced Life
Choosing your own hours, working at your own pace, and getting paid what you deserve all contribute to a better quality of life.
Disadvantages of Freelancing
While freelancing may seem like a dream, it does come with pitfalls. Here are a few disadvantages to be mindful of.
Work Won’t Always Be Consistent
Ask any freelancer and they will tell you about the feast or famine cycle-- the cycle between consistent work and no work at all. This is when This is especially the case if you offer services on a one-and-done basis.
Once you finish the project for a client, you will have to look for another. That’s why as a freelancer you have to always be marketing to keep your clientele full.
Getting Clients Won’t Be Easy
Contrary to belief, most freelancers don’t quit their jobs and become overnight successes. In the beginning, it will be tough finding clients--especially if you don’t have many referrals.
Managing Multiple Clients Can Be Stressful
While no freelancer wants to be without clients, juggling multiple can be difficult. As a freelancer, it’s crucial to not take on too much at once and to outsource some work when possible.
You’ll Have to Pay Self-Employment Tax
Unlike a regular employee, taxes are not automatically taken out of your pay. So you will have to be responsible for paying Medicare and Social Security taxes--or referred to as self-employment taxes.
You are Responsible for Your Own Benefits
Along with paying your own taxes, you will also have to pay for your own benefits like health insurance and retirement plans.
How to Get Started in Freelance Marketing
What’s great about freelance marketing is that it doesn’t take much to get started. It can be as simple as searching for work on freelancing sites.
However, it takes a little more elbow grease to be a successful freelance marketer. Here are some things you should do.
Pick a Niche
A freelance marketer can take on many roles. To make your freelance transition easier, it’s best to choose what you will specialize in.
For example, will you be a copywriter who focuses on SEO website copy or will you specifically tackle Facebook ads copy? Do whatever you feel most proficient and confident in.
Determine Your Rates and Stick to Them
It’s important as a freelancer to set your price so that you’re getting paid what you’re worth. It may be tempting in the beginning to set your prices super low as a competitive advantage, but doing this won’t allow you to support yourself.
Instead, it is recommended to set premium prices so that your services are attractive to prospective clients.
Get an Online Portfolio
An online portfolio will allow you to display your work. Creating a professional and visually appealing website would make marketing yourself to clients easier.
Market Your Services
Having a portfolio isn’t enough to get seen by potential clients--you have to market yourself. Use social media to network and connect with other freelancers and people you want to work with.
Other Things to Know Before Freelancing
Have an invoicing system. A mistake that new digital marketing freelancers make is not having an organized and convenient way to invoice clients. Thankfully, software like Quickbooks and Bonsai offer effective invoicing tools that allow freelancers to send invoices to clients and send reminders of unpaid balances.
Don’t work on good faith. Always have a signed contract and deposit before doing any work. This will prevent you from getting stiffed by unscrupulous clients and save you frustration.
Freelance digital marketing takes a lot of hard work and responsibility, but the rewards are worth it. Now that you know everything about what freelance marketing is, don’t hesitate to take the first steps to independence.