If you ask any business owner about their challenges with copywriting freelance rates, they would say it's acquiring the right candidate at a sustainable rate. Most of the time, they end up hiring irrelevant talent for the team. As a result, their copy fails to generate compelling results to fuel the growth of the business. And sometimes, even if their copy generates substantial sales, it doesn't improve the net profit margin due to higher freelancing and acquisition costs.
There's no denying that freelancing is a far better option than hiring full-time copywriters for your team to have a win-win situation. And yet, you have to be careful that you pay the right amount for the right skills and the deliverables. The way that you vet your full-time writer is not the same as for freelancers. You have limited opportunities to evaluate your freelancers at the most optimal freelancing rate.
You may want to consider many criteria like experience, specialization, additional skills, deadlines, and collaboration in order to determine the copywriting freelance rates.
According to a recent survey, 30% of freelance writers make less than $10 per hour in their first year. Sounds like a good deal for you, but when you hire a copywriter with specific expertise and senior-level talent, you're likely to be paying much more.
You must follow certain practices to evaluate your copywriter and offer them an enticing freelancing rate.
So, if you want to know what you should consider to balance the profitability in your business and the career growth of your freelancers, keep reading this article.
The most common practice is to progress the rate of your freelancers through the 30-60-90 day plan with a clear SMART goal. You should chalk-talk (illustrate) the goals in detail through these five criteria :
Set a timeline for 90 days and keep measuring the performance matrix every day.
Because your freelancer is relatively new to your business, you can assign an initial 30 days as an "Understanding" phase. During this phase, your freelancer's goal is to understand your product and marketing strategies. As your copywriter is less productive during this phase, feel free to keep your freelancing rate as low as possible.
In the second phase, the 60 days, you'll start to understand the strengths and weaknesses of your freelancer. You may consider performing a SWOT analysis of your freelancer and identify the compatible areas. This means you will get to know whether your freelancer is a good fit for writing copy for your landing page, email scripts, or other areas of your business.
Finally, in the 90 days phase, your copywriter is all set to get off the ground on specified areas with adequate clarity and understanding of your business. Because your copywriter is now able to generate revenue through sales, this is the time you can offer a higher freelancing rate and retain the talent.
There are many advantages to hiring an experienced copywriter. An experienced copywriter, for instance, can help generate copy with minimal errors. Also, the quality of the copy is usually higher than that of novice copywriters, reducing the editor's cost and effort dramatically.
When you look for an experienced player for your team, make sure you evaluate their experience and background thoroughly. Sometimes copywriters have decades of experience outside your business domain. If you bring such experience to the table, it is only going to increase their rates.
Because you pay higher copywriting freelance rates for experienced copywriters, it is fair to watch the SMART goals of the 30-60-90 day plan even more intensely. Indeed, you can expect your experienced freelancers to be more resourceful and act as leaders for the junior level copywriters on your team.
Also, an experienced copywriter should be flexible enough to develop crossover-skills and fill any gaps proactively. Ultimately, you will not have to rely on other resources to cover additional costs.
Similar to hiring experienced freelancers, you may also want to hire freelancers who have substantial experience in a specific area for your business.
Two types of specialization you should consider to determine your copywriting freelance rates :
Specialization by industry
Specialization by type of copy
Copywriters who are experts in a specific industry are already well-versed in the market research of your business and industry. They have spent years understanding your particular industry and can help you develop a buyer's persona more precisely. As a result, their copy would be more compelling than other generalized copywriters.
Another specialization to consider while determining copywriting freelance rates is their expertise in a specific type of copy. This means your copywriter outperforms when it comes to a particular type. For example, a landing page, website pages, email, Facebook ad, PPC ad, or other types of copy.
Copywriters who specialize in landing pages or pay-per-click (PPC) ads, for instance, are extremely picky about every single word to create a compelling headline or a tiny ad.
Because of their expertise in specific areas, these copywriters usually come at higher rates. And yet, it is wise to have them on board so you can expedite your market research and generate copies that skyrocket your conversion and sales rate.
If your business is more complex or technical than most, or the competition in the marketplace is high, you definitely want to consider creating copy by going the extra mile. So, based on such complexities and the nature of your copy, you should offer a specific type of deal to your freelancer.
If your copy requires profound research with a certain level of complexity, you may base your copywriting freelance rates on the "Pay-Per-Word" model. You'll pay based on the number of words your copywriters have written. You can fix the rate per word before getting into the deal.
On the other hand, for less complex copywriting tasks, you may want to go with the "Pay-Per-Hour" model. This option is useful when your copywriter and you both are in sync to produce consistent results every day and week over a long period.
And yet, there is a third way, which I like the most. If you hire the top-notch writer of your industry, the best bet could be to offer compensation that increases as their copy brings in more sales. This is an ideal situation that you can also call a "win-win deal" to get the most compelling outcomes.
If your copywriter can offer additional value to save the overall cost of your marketing campaign, what could be a better option than having such talent on your team?
Let's say you're selling software or another technical solution. It would be much better to hire a copywriter with a technical background at higher copywriting freelance rates. For many freelancers, copywriting is their second career. That gives them an edge in the market with additional skills to leverage.
Along with additional skills, some copywriters are also useful in offering value-added tasks. They prefer to go the extra mile by working on graphics, SEO based copywriting, or help with publishing through WordPress. These value-added tasks make them more accountable and admirable.
Also, exceptions are always going to be there. For example, short deadlines, holiday seasons, higher attrition on your team, and many others. In such a situation, it's better to hire freelancers on short notice at a higher rate.
Freelance content writers can help to optimize your business to produce high-quality content for your brand. Here is a quick recap for determining copywriting freelance rates:
No matter what type of copywriter and level of experience you look for, define their SMART goals, and track them through the 30-60-90 day matrix.
Go for senior-level copywriters for quality and quick turnaround, along with assigning additional responsibilities to your team.
Hire copywriters with specialized skills to get an edge in a tight market.
Decide which type of freelancing deal you want to offer based on your requirements and deadlines.
Look for additional skills and values. Close the exceptions with a quick deal.
If you have a question on how to get such a variety of options when hiring the next copywriter for your team, send your request here.
Darshit Shah is a Copywriter with focus on marketing psychology and user experience, to help clients achieve record growths. He is hands-on in PPC Google AdWords and LinkedIn along with writing Copies of entire sales funnel. While working in Microsoft, he explored AI to Digital Marketing for accurate forecasting of Conversions and Call-to-Action rates, to reduce overall marketing cost.Hire Darshit