COPENHAGEN, 25-May-2021 — /EPR INTERNET NEWS/ — A new study looking into the business models and strategies of freelancers has revealed a unique and untapped growth opportunity for digital service providers.
Freelancers today represent a growing labour market segment, one which has been heavily boosted by the pandemic. According to Freelancer.com, in Q2 2020, as the pandemic’s first wave raged across Europe and the United States, freelance job openings increased by 25% compared to the first quarter of 2020. Yet despite freelancers today accounting for 15% of the European labour market and up to 30% of the US labour market, these small business owners remain an untapped resource for SME service providers.
Keen to understand more about the popularity and profitability of this growing sector, SME service provider, Mono Solutions, and trade association, Localogy, conducted a survey in April 2021 of more than 550 freelancers across the United Kingdom, Germany and Sweden, to gather insights into how these professionals operate their businesses and what motivates them to opt out of more secure full-time employment.
The study found that while, for many, the Covid-19 pandemic and associated market changes were behind their career choice, for others, particularly those aged between 18 and 34, the career path is a lifestyle choice. Findings also revealed that, regardless of the reason or the industry in which these freelancers operate, they all have one thing in common; a need to market themselves.
Mie Bilberg, VP Marketing, Mono Solutions, says the study shows 85% of freelancers surveyed have their own website, 61% have their own blog and 38% have an ecommerce store. “Personal branding is especially important for a freelancer, which is why his or her first marketing investment is a website and a blog, both of which require some form of software to develop and run. Interestingly, 62% of freelancers tell us they actively recommend software to their clients, but only 16% of those we surveyed are software resellers themselves.”
Most of the surveyed freelancers who were not diversifying income through software resales, simply didn’t know the opportunity was available.
Mie believes any business selling digital products like websites, online booking, ecommerce or services like, SEO, graphic design or advertisement, should be looking to freelancers as potential clients as well as potential lead generators. “Many freelancers have trusted relationships with their small business customers. As accountants, marketing consultants, graphic designers etc., they are in a strong position to recommend software solutions to their clients. Solution providers should be looking at local freelancers as the influencers they are. It’s time to get to know your freelancers on another level, they could be your key to long-tail growth.”
These findings offer powerful insights into a potentially lucrative form of marketing for software and digital technology providers. To discover more insights from the study and to download the report in full, visit Mono Solution’s website.