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Market Research for Freelance Writers
February 14, 2012
6:03 am
Jennifer Mattern
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When you work as a freelance writer, you run a business. And when you run a business, market research is essential to your continued growth. Yet I often see freelancers make rash decisions about their businesses with no market research whatsoever to help them make those choices. They just wing it. 

First, why is that? Are they simply not serious about their businesses (maybe treating them more as hobbies)? Are they uninformed about how to handle market research? Or is it something in between? Whether you've been there yourself or you know others who are, what do you think?

Next, what are some of the most important types of market research for freelance writers in your opinion? Here are a couple of examples to get us started. 

1. Researching the competition when setting freelance writing rates

2. Researching a publication's guidelines and past issues before querying them

3. Researching market saturation (how much demand there seems to be in your specialty area vs the number of freelancers offering those services)

What would you add to the list to give new freelance writers a better idea of what kinds of market research they should consider?

Jenn

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February 14, 2012
8:21 am
Elafont
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Lol this is akin to asking the lady on Facebook who always complains about her spouse, why she doesn't divorce him. I think people are lazy and they don't want answers so much as reinforcement to back up what they've already decided they are going to do. In order to do real market research, you must be comfortable with finding out that your original idea won't work or that you have to handle things differently than you imagine. And that sounds like work to me.

 

FROWNY. FACE.

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February 15, 2012
8:12 am
Jennifer Mattern
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To a degree, you're absolutely right. There are a lot of lazy people involved in freelancing -- not the pros who (as we know) work their asses off, but all the folks who jump in with no forethought because they wrongly assume it's easy. They expect almost effortless income, which is silly. For those folks, market research just isn't going to happen. They'll troll some job boards, maybe churn out a few content mill pieces, and eventually they'll walk away. 

But what about the newbies who understand that freelance writing is a business, but they aren't sure what they should evaluate beyond those job boards and competitor's websites? Is there anything specific you'd tell them to look into beyond the obvious? 

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February 15, 2012
3:37 pm
Elafont
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First I would tell them to look at:

 

-Writer's Market

-Competitors

-Union average rates (I think Freelancer's Union and a Canadian outfit have these)

-Marketing department connections in your industry

 

Then, take a look at what you NEED to charge in order to support yourself (include taxes, vacation, Paypal fees, sick time, insurance, etc.) then, if you are still within range of the averages of all those other rates that you considered (above), then add a little more to compensate for the added values you bring (specialized knowledge, industry experience, etc.).

 

But it will also depend on where you want your work to come from. You can do all this but then if you sell yourself to Adsense only sites (not all, but many) you are going to have to settle for the going rate in that segment.

 

A lot of setting rates is about knowing yourself, knowing your target client, and knowing the industry itself--so there is no one-size-fits-all answer (as you well know).

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February 16, 2012
6:47 am
Jennifer Mattern
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Awesome advice Evelyn. :)

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February 17, 2012
8:21 am
LoriWidmer
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I'd tell them to outline their strengths and weaknesses. Strengths can be immediately lucrative. Weaknesses can be turned into challenges to overcome.

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February 17, 2012
10:40 am
Jennifer Mattern
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Sounds like a good time to do a SWOT Analysis. ;)  

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March 6, 2012
8:59 pm
Jessica Marcarelli
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*waves*  I'm one of the newbies who would like to work her butt off but am only just now getting a clue as to how to do it.  Given that, I love this thread but I have an extra question to add:  where do you go to scope out the market?  As in, what are the actual mechanics of finding both your competition and your potential client base?

 

I've heard (and read!) the tops about cold calling/emailing, for example, but where do you get the lists of clients to call/email?  Once I have my specialty and website in place, do I simply pick up the yellow pages and see what matches?  I've made some online searches for "freelance writers phoenix" (which is where I'm at) to see who pops up as my competition but is this even the right way  to go about it? 

 

So, that's more like five or six questions but you get the point: I'm all ears.  Cool

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March 6, 2012
10:25 pm
Elafont
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Jenn is the best person to listen to, but I'll tell you what worked for me. First, you have to decide whether or not you are going to specialize in something–which you definitely, definitely should. But don't just think about specializing in terms of writing–think about your knowledge and experience as part of what you're selling. Because knowledge and experience are easier to sell and harder for other writers to compete with. Writing–puh-leaze. Tons of people can do that. But writing about nano-baboon muscle technology with a focus on irradiated weaponry and sun gadgets? Girl, that's all you.

Once you know your specialty, you'll immediately know who your clients are–people who will benefit from a knowledgeable professional writing about nano-baboon muscle technology with a focus on irradiated weaponry and sun gadgets. And you find them not with a list, but by going where those types of people hang out, and by starting a targeted marketing campaign (and that could be where your phone book comes in).

You'll also be better able to find your competitors. If they have posted rates, you can compare their experience and rates with what you're thinking of charging. Also, take a look at their clients. If they are writing for properties known to be populated by content mill content, you'll get a sense of how realistic their rates are and what kind of competition they might be. If they don't have rates, you can look at trade magazine rates within your specialty, union averages, and you can connect with people in your industry to see if they can find out what marketing managers pay contractors (which can also help you get clients).

Now, I gotta go get my baboon forearm out of deep freeze and get to work. Later ;-)

 

Edited to state that I noticed you already said you were going to specialize--in which case I personally would not look for competitors by searching a generic "freelance writers in Phoenix" term. First, location doesn't matter. Second, when you specialize, as I said, you are selling more than writing--you're selling expertise. So comparing rates with a generalist doesn't matter. I would keep your competitor searches to general terms that your own clients might use to find you--and leave location.

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March 7, 2012
10:05 am
Jennifer Mattern
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Search engines are certainly a good place to look. I don't personally do any direct marketing. I take a query-free approach. Chris Bibey covers things like cold calling for us here, for writers who prefer that marketing style (or for markets where it makes more sense). Here's a short post he wrote on where to look when building your list:

/2011/12/12/freelancing/marketing-pr/how-to-compile-a-cold-call-list/

Ev gave you a lot of good information in her post, so I'd start there. 

In addition to what she and Chris said, also consider researching the competition in forums and social networks. By paying attention to what they're talking about and questions they're asking, you'll get a good idea of what works for them and also what they struggle with (meaning areas where you can excel).

Jenn

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March 7, 2012
1:29 pm
Jessica Marcarelli
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Thank you both for the advice!  It gives me a fantastic place to start and maybe get some new clients by the end of the month. 

 

Evelyn – yes, I've already decided to go with a specialty.  I'm thinking business web content, eBooks, and blogs in the gardening niche.  I've had a lot of experience in that area and I like helping others find their way around the topic.  (In all honesty, I originally wanted something to do with science fiction and fantasy, where my fiction skills and my passion lie, maybe in the gaming industry, but I've had zero success there – they all get turned off by the fact that I'm a woman and therefore must not really be a hardcore fan).  So, according to your advice, I should then start looking for gardening groups, landscape developers, nurseries, etc.? 

 

As for location, I'm confused.  Is this another disagreement between freelancers, as Jenn pointed out in another post?  I've read that location doesn't matter – like you've said – but also that location does matter since local clients are often the most lucrative.  Confused

 

Jen – I've already seen the benefit to social networking.  And I'm being good by actually trying to get to know the people I "meet" this way and not just spamming their feeds with "hire me" posts.  Laugh

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March 7, 2012
2:08 pm
Jennifer Mattern
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Whether location matters or not will largely depend on your specialty area. It shouldn't matter at all in yours. That's a bigger deal when you want to target local markets specifically (like local small business clients) or if the market in general is highly tied to a region (like promoting the fact that you're in Detroit if you want to do corporate writing for auto manufacturers or something). Personally, I don't work with local clients unless they happen to find me. And I'm fairly remote now, so that's pretty rare. I find clients online and through referrals, and the vast majority are international. 

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March 7, 2012
3:12 pm
Elafont
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Jessica Marcarelli said:

Thank you both for the advice!  It gives me a fantastic place to start and maybe get some new clients by the end of the month. 

 

Evelyn – yes, I've already decided to go with a specialty.  I'm thinking business web content, eBooks, and blogs in the gardening niche.  I've had a lot of experience in that area and I like helping others find their way around the topic.  (In all honesty, I originally wanted something to do with science fiction and fantasy, where my fiction skills and my passion lie, maybe in the gaming industry, but I've had zero success there – they all get turned off by the fact that I'm a woman and therefore must not really be a hardcore fan).  So, according to your advice, I should then start looking for gardening groups, landscape developers, nurseries, etc.? 

 

As for location, I'm confused.  Is this another disagreement between freelancers, as Jenn pointed out in another post?  I've read that location doesn't matter – like you've said – but also that location does matter since local clients are often the most lucrative.  Confused

 

Jen – I've already seen the benefit to social networking.  And I'm being good by actually trying to get to know the people I "meet" this way and not just spamming their feeds with "hire me" posts.  Laugh

I think sometimes, too many generalizations are thrown around in the freelancing world. You have to find the best way for YOU to find high paying clients, and that could mean going local, regional or global. You also have to think about your business.

For comparing rates, I would NOT just look locally simply because your local clients are not tied to only using a local freelancer--so I'd look at ALL freelancers in your specialty. When looking for clients, you have  to choose the kind of business you want to have. Personally, I would stab myself in the eye with toenails found in the local trash heap before tying my location to my work because I HATE going to meetings. Hate dressing up and hate being accessible. Hell, I don't even want tot alk on the phone with clients. But that's me.

The way to make the most money and have the best career is to figure out what you like by trying lots of different things and then tweaking your approach.

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March 8, 2012
8:23 am
Jennifer Mattern
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LOL When I was reading blogs in my feed reader yesterday, I saw a post where someone basically said you can't succeed as a freelance writer if you don't do face to face meetings, dress in something other than PJs, etc. I laughed my ass off and said "you keep thinking that sweetie." Some of the most successful freelancers I know dress like bums, don't do meetings, and don't do anything locally. That's not to say other freelancers should take that approach. It's just another example of the kind of assumptions and bad "advice" you'll find about freelancing. As long as you don't undervalue yourself or embrace something that could permanently tarnish your professional image, you can do just about anything you want. You just have to make sure you have a plan in place so it actually helps you toward your goals.

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March 9, 2012
12:57 pm
millercathy
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LOL When I was reading blogs in my feed reader yesterday, I saw a post where someone basically said you can't succeed as a freelance writer if you don't do face to face meetings, dress in something other than PJs, etc. I laughed my ass off and said "you keep thinking that sweetie." Some of the most successful freelancers I know dress like bums, don't do meetings, and don't do anything locally. That's not to say other freelancers should take that approach. It's just another example of the kind of assumptions and bad "advice" you'll find about freelancing. As long as you don't undervalue yourself or embrace something that could permanently tarnish your professional image, you can do just about anything you want. You just have to make sure you have a plan in place so it actually helps you toward your goals.

Well, I do get out of my PJs, but I have no local clients and my only face-to-face occurs once a year when I go back to my old San Diego stomping grounds. Good to know success means clothes and latte. Laugh

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March 9, 2012
3:53 pm
Jennifer Mattern
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Well, that makes you a bigger success than me then! I'll take comfy "failure" over the other option most days. And hey. If this is failure, I think I'm good with it. ;)

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March 10, 2012
8:21 am
millercathy
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Well, that makes you a bigger success than me then! I'll take comfy "failure" over the other option most days. And hey. If this is failure, I think I'm good with it. ;)

I should be such a failure. Wink

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