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Doubling your freelance income at a time like this might seem like an incredible feat, but with the right attitude and a little bit of guidance, you can be on your way to doubling your freelance income, despite the state of the economy.
Whether you need to double your income because your spouse lost their job or they had to close down the family business because of state lockdown orders, doubling your freelance income to make ends meet is completely doable.
Setting your sights on industries that are known for doing well during recessions is one way to make that happen.
Some of the industries and companies that thrive the most during recessions include healthcare providers, auto repair and maintenance companies, home staging companies, financial service companies, home maintenance stores, grocery stores, and discount stores.
People typically buy more beauty products and services, fast food, alcohol, and candy during recessions.
So finding new clients that fall within those industries or focusing on the clients you already have within those industries is your best bet.
Below are five ways to double your freelance writing income even during a recession.
1. Get More Customers.
If you want to double your freelance income by getting more customers, it would make sense to double your pitching efforts.
Let’s say you normally send out about 10 pitches per week.
It’s time to step your game up and start sending out 20 or more pitches per week. While they might not all be “yes”‘s you’ll still see an increased conversion rate, which means more work for you and more money.
Do whatever you have to do to make time for more pitches.
It might be a bit difficult with COVID-19 going on and a lot of people out of work. But that doesn’t change the fact that companies are still advertising, which means they still need copywriters.
That’s where you come in. Use the pitch letter to show off your writing chops and let them know exactly what they’ll be getting if they work with you.
Add a dash of humor or a bit of something extra that makes you stand out from the sea of writers they might also be getting pitches from.
LinkedIn is another option for getting more clients during the shutdown.
Make more connections. Get more involved in conversations. Make yourself present and seen – but obviously, don’t be obnoxious about it.
Don’t spam people. They hate that.
And it’s rude.
Instead, try optimizing your LinkedIn profile. I’ve got a great LinkedIn profile optimization checklist you can use.
Posting valuable content is another way to draw in more connections, connections that could potentially turn into clients. Find out what kind of content would help your audience and create it.
Once you start posting, be consistent. Create a schedule and stick to it.
Find out which times your audience is most active and post during those days and times.
2. Sell More of Your Products and Services.
Do everything you can to sell more of your products and/or services. For example, you could offer bundles.
If you write blog posts for $200 a pop, you could present your clients with a special bundle by offering a discount if they buy more blog posts.
For example, you could offer to write four blog posts a month for a total of $700, which knocks $100 off the total price, or $25 off of each blog post.
Another way to sell more of your products or services is to bundle them with different services or products you offer.
So, if you write web copy, you could also offer to write your clients’ social media copy, too, for a discounted price.
If you’re selling digital downloads, you could offer a few of your single listings in a bundle for a discounted price to help you sell more.
You could also just give the illusion of a lowered price by raising the price first and then offering a “sale” on your items, which looks like a much more attractive offer to anyone considering buying your products without really losing any money.
3. Raise Your Prices.
It might not seem like the right time to raise your prices, but doing this can add perceived value to your products or services.
I know what you’re thinking. Won’t that take me out of the running if other freelancers are lowballing?
Yes and no.
It depends on what kinds of companies you’re aiming for.
Companies that pay well know their value, their worth. And you’ve got to know yours too.
And even in times like these, top companies still want the best of the best because it matters even more now how they sell their products and/or services.
With more than 33.5 million people out of work due to government shutdowns, companies are hiring freelancers and temporary workers more than full-time employees to get the job done while avoiding the cost of paying full-time benefits.
So if you want to stand out and snag a decent freelance gig for the time being, consider raising your prices to show your potential clients exactly what you’re worth.
4. Keep an Eye Out for Posted Freelance Gigs.
If you’ve been browsing LinkedIn recently, you’ll see that there are tons of freelance writing gigs being posted nearly every day.
More and more companies are looking to hire freelance copywriters and content writers to help them sell their products and services in unique ways.
And the best part is that many of them are remote positions so you can continue to work from home.
Some of the jobs posted don’t mention whether working remotely is possible, but I’m sure you could easily negotiate something like that — at least until the lockdown is over in your area, if it’s not already.
Other places to keep a lookout for freelance gigs include:
- ProBlogger Job Board
- College Recruiter
- People Per Hour
- All Freelance Writing
- Working Nomads
- Freedom with Writing
- Media Bistro
- Skip the Drive
- We Work Remotely
5. Create a Strong Lead Magnet.
According to OptinMonster, a lead magnet is “an incentive that marketers offer to potential buyers in exchange for their email address or other contact information.”
The purpose of a lead magnet is to demonstrate your expertise, solve a problem, or provide value to your audience in a quick and easy-to-digest manner. The content should be specific and instantly accessible.
Doing the above can draw new clients to you like a magnet. It can also help you increase blog traffic and boost sales if you’re running ads or doing affiliate marketing on your blog.
Lead magnets come in many forms, including:
- Cheat Sheets
- White Papers
- Swipe Files
- Resource Lists
- Case Studies
- Digital Downloads
- Facebook Groups
- Gated Content
- Membership Sites
- Email Courses
- Free Coaching Sessions
Once you know what kind of lead magnet you want to offer to your audience, make sure you find an easy way to distribute it to them using a high-converting opt-in form.
Doubling your income during a recession or economic turmoil is completely doable, even with everything going on right now. With the above methods in mind, you can increase your income and potentially even double it. Figure out which method(s) would work best for you and start working on implementing it/them as soon as possible so you can get that extra money rolling in.
And don’t forget to check out my post on 40+ Places to Find Freelance Writing Gigs.