Survey Shows Freelancers Reach Earnings Goals Within Two Years, Invest in Marketing Themselves Online and Don’t Seek to Return to Full-time Employment
Freelancing is often thought of as an interim career move between full-time employment but a new survey, “State of the Freelance Nation,” shows it has become a long-term career path. The survey, conducted by WiseBrand, a full-suite marketing platform for independent workers, shows that freelancing is a financially secure career path with the average freelancer reaching their income goal within two years and 42% reaching it within their first year. Moreover, those who invest time and money in online marketing earn significantly more.
Based on more than 2,000 respondents, WiseBrand’s survey dispels common myths about and sheds new light on freelancers’ finances, ambitions and needs:
Freelancing is financially unstable.
The average freelancer reaches their income goal within two years
42% reach their earning goal within their first year of freelancing
52% of those who reached their earning goal within 1 year earn above $75,000 per year
54% report that they set money aside for savings
People don’t invest in growing themselves as freelancers because it’s just an interim career phase.
People are choosing to pursue freelance careers long-term: 54% have no interest in returning to full-time employment
People want to grow their freelance careers and do so through online marketing: 83% financially invest in online marketing activities.
55% of freelancers spend 3 hours a week marketing themselves online
Among their greatest marketing challenges: 51% said that it’s too time consuming; 41% said it’s too costly
Those who invest more than $100 per month earn more income
They don’t outsource: 87% manage their online marketing activities on their own
Facebook is their platform of choice for paid social media marketing
54% invest in Facebook ads
24% invest in Google
18% invest in Instagram
There’s a gap between their desire to market themselves online and their financial investment in it: 67% report that online marketing is “important” to their business yet spend only $100 a month or less on it
Freelancing is a job best suited for Millennials.
Freelancers age 35+ are less likely than Millenials to return to full-time employment
More than half of freelancers age 35+ report that they are satisfied with their work life balance
Orly Izhaki, CEO and Founder of WiseBrand,
“The job market has experienced tremendous change within the last decade. Freelancers have not only grown in numbers but have also become savvier and more ambitious with most managing their own online marketing activity. Here’s their current dilemma: Most say online marketing is ‘important’ to their growth but find it too costly and time-consuming. But with the right tools, freelancers can market themselves quickly and affordably. Another interesting finding is how respondents choose to label themselves: 50 percent identify as ‘self-employed,’ 19 percent identify as ‘small business owners,’ another 19 percent identify as ‘entrepreneurs,’ and only 12 percent identify as ‘freelancers.’”
ABOUT STATE OF THE FREELANCE NATION
This survey studied the working habits of more than 2,000 North American adults (age 18+). The respondents were surveyed online between December 10, 2017 and December 21, 2017. The results analyze the key business and marketing challenges freelancers, self-employed professionals, and entrepreneurs face.
With 850,000 users, WiseBrand is the industry-leading suite of business tools that helps freelancers, self-employed professionals and small businesses grow. Combining ease-of-use with powerful technology, WiseBrand’s tools empower users to increase their customer engagement, lead generation and sales conversion.