Mailchimp and Co released their 2021 benchmark report, which gave stats and insights into how freelancers, marketers, for the most part, are doing. The survey had 2,000 respondents and most were ages 25 – 54.
Here are a few survey highlights, and definitely check out my video which goes into more depth and illustrates key tips.
Most freelancers are new, with 50% being 1 – 5 years in business.
What do you pay yourself?
Half earn less than $25,000 a year and the average earn from $25k – $100k a year.
Only 10% earn over $101,000.
Referrals
The survey showed that for freelancers, and I’m guessing many small businesses, referrals are their best marketing strategy for getting new customers.
45% indicated their revenue increased, while 36% indicated their revenue decreased.
How to increase your profits?
Ask yourself if the work you’re doing for a particular client is profitable.
Review your pricing, get more from current customers (they already know, like and trust you!), and finally increase your capacity. Can you boost your productivity and get more done in less time. Tools like Zapier and ASANA can help with that.
Cash flow is essential for the success of your company. How can you boost cash flow?
- Get help with accounting – hire an accountant and for sure a bookkeeper
- Be systematic in getting paid
Be careful in relying on a single client. If they stop being your client you’ll be in trouble.
New business is important. How to generate new business?
The survey showed that referrals, networking, and relying on other agencies help. Your competition might just be a great referral source. LinkedIn was listed as a top referral source as well as email marketing.
Referral tips?
- Create a list of top referral sources – Amanda Holmes talks about this as your dream 100.
- Let clients know who are your best referral sources. Adrian Miller, sales trainer, says this all the time.
- Say thank you
- Set targets and goals
- Be specific in who are your best referral sources.
The post How To Win As a Freelancer? Mailchimp Survey Says Referrals and more. appeared first on SmartHustle.com.
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