The Future of Freelancing in 2021 And Trends To Watch Out For
The year is almost at an end but one thing is certain: 2020 caused a major
disruption for businesses. However, it doesn’t look like the freelance economy is about to face any upheaval soon. After all, experts have been predicting that a lot of the workforce would go freelancing and be working from home for a long time now. While people and businesses knew that and probably took it with a grain of salt and believed that the freelance revolution that was predicted would probably take place over the years; gradually the pandemic saw many businesses shut down, salaries were slashed and worse of, employees were laid off.
However, the freelance industry experienced higher patronage as hiring freelancers who work remotely became the new normal.
In lieu of what we’ve experienced this year, here are some of the freelance trends to watch out for come 2021.
- Freelancing will become more stable.
Freelancing has always been perceived as an unstable career because of days where you get numerous clients and times when the numbers of clients trickle in — you’ve probably heard of these terms — the rainy season and the famine.
However; thanks to COVID-19, the perception is quickly changing. We’ve seen
freelance platforms and groups offer financial resources, resources for dealing with COVID and how to build structures. This, amongst others, is one of the cores of Bookings Africa. From resourceful tips to links to learning resources in our newsletters, announcing and celebrating a freelancer weekly and upgrading our app and website to suit the needs of the everyday freelancer and make transactions between them and their clients; seamless. We are also working to change the instability that freelancing is known for.
In 2021, don’t be surprised to see us alongside other organizations support
freelancers and provide more stability.
2. There will be more freelancers out of necessity
According to a research conducted by Upwork, two million Americans have gone freelance in the past year. Freelancers now contribute $1.2 trillion to the economy, which is an increase of 22% since 2019. In a report titled “Global Internet Freelance Market Overview for 2018” released by Analytics Help after the conclusion of research which took data from World Bank and online freelancing sites into account, countries like Nigeria (31st with 7,897 freelancers), Morocco (33rd with 7,553 freelancers), and Tunisia (43rd with 5,884 freelancers) made up the rest of the top five African countries with the greatest population of online freelance workers, with Kenya being the highest-ranking African country and South Africa ranking second.
This report shouldn’t come as a surprise since many people were predicting a global shift to freelancing which COVID-19 massively accelerated. And thanks to the pandemic, many people are now pursuing a career in freelancing out of necessity, and not by choice. Before the pandemic occurred, many people were freelancers because they wanted the flexibility that came with it and the ability to achieve work-life balance.
However, when the pandemic hit, many retrenchments occurred, compelled by companies who needed to downsize. And companies began to employ freelancers more than hiring employees who cost more in terms of security, benefit coverage and retirement.
3. Some freelancers might leave big cities.
In the past, many attributed the success of a freelancer to staying or living in big cities. However, that’s no longer a necessity. Plus, with job opportunities having dried up and many full-time employees losing their jobs, the rent and costs of living aren’t about to reduce anytime soon. And if there’s anything COVID-19 has taught us all, even businesses who were wary of hiring staff not located in their location, it’s that anyone, especially freelancers, can work from anywhere and at any time.
4. There will be more freelancing platforms
Freelancing platforms have one of the biggest indicators of growth in the gig
economy. And one thing is for sure: for aspiring or newbie freelancers who are
interested in freelancing and don’t know where to find freelance jobs; all they need now is a click of a button way.
Freelancing platforms today, such as Bookings Africa makes it easier for your
potential clients to find you, sell your services; find clients, share files and even video call. And that is our mission: to connect Africa freelancers with clients who will pay them for their expertise, while they do what they love and legitimately. And in 2021, we won’t be surprised to see other freelancing platforms spring up. One more thing is certain: freelancers won’t be treated as commodities again. Rather, they will be seen and treated as valuable customers as they now contribute hugely to nations’ economies.
5. Freelancers would be paid their worth
Before, freelancers were tagged as unserious and creatives who needed more of free or volunteer work to gain exposure or visibility than being paid their worth. And even when they were paid, many were underpaid.
Interesting, the case is different now. There is a growing trend of highly-skilled freelancers, and reports show that the pay for freelancers is on the rise.
For instance, a report from MBO Partners found that one in five freelancers earns over $100,000 per year. And as more individuals who continue to upgrade their skills and have highly-specialized skilled sets switch to freelancing, the prices attached to their services will continue to increase.
Also, with the pandemic hitting the world, several positions have been touted to be in high demand in 2021. These fields include freelance writing, editing or proofreading, translation, administrative support, customer service, online teaching, data entry, blogging, content marketing and strategy, counselling (esp. for mental health), mobile and web development, SEO & digital marketing, social media management, graphics design, cryptocurrency coding, machine learning & AI, dropshipping, video, audio & image editing, data science & analytics and consulting.
What Can Freelancers Do to Prepare for 2021 and the Future?
If you’re already a freelancer or aspiring to be one, then you should note the
following to achieve success in your field:
- Use freelance sites to get started.
Many years ago, many people would probably have been interested in freelancing but dropped the idea because they didn’t know where to get the jobs. However, fast-forward to today, there are tons of freelancing platforms to take your pick from. Plus, freelance websites are a great and easy way to establish your personal brand, build your portfolio and learn the nitty-gritty of freelancing. However, once you’ve built a portfolio and gotten a few long-term and good-paying clients and feel confident about your skills, you can work off the platforms or merge both (work on and off the platforms).
2. Learn to retain clients
Your best clients don’t use your service once and go. They come back again and again. Customer retention increases your customers’ lifetime value and boosts revenue in return. Attracting new customers may be rewarding, but it also often involves a lot of hard work and expense. The good news is that the costs associated with repeat business are, generally, significantly lower
70% of businesses say it’s cheaper to retain a customer than acquire one, while others have suggested that the cost of acquiring a new customer can be as much as seven times more expensive.
By targeting existing customers — with a demonstrable interest in your services and willingness to buy it — you’re giving yourself a much stronger chance of making a sale. Studies have proven that the probability of converting an existing customer is 60–70%, whereas the likelihood of converting a new prospect is only 5–20%. Plus, it also helps you build amazing relationships with your clients. You aren’t just another freelancer. You’re someone they’ve continuously worked with and they trust you with their money because you give them value in exchange.
3. Invest in Your Own Digital Infrastructure
The more you invest in your ability to promote your brand and improve your
productivity, the more you will increase your bottom line. Just like any business, freelance success is about lowering costs and increasing revenues.
You can create a website, create business pages on social media or even leverage email and WhatsApp marketing to grow your audience and make more money. For those who can’t afford to pay for websites immediately, you can easily create a website via free platforms such as Wix, SquareSpace and WordPress.
Bottom Line, the future of freelancing means that an increasing number of skilled workers will be self-employed. Plus, if there’s one major familiarity in all of these predictions, it’s that freelancers will be increasingly valued and in-demand in 2021 and beyond.
We can also expect to see that as the number of highly skilled freelancers continues to rise, their pay will grow accordingly. This will, in turn, allow freelancers to choose clients to work with, where they live and work from. And for freelancers, we suggest that you upgrade your skills, look for ways to increase your productivity levels and exceed customer expectations in order to command higher prices.
2020 has been a lot, but we have high hopes for 2021.
Comment awesome if you believe it will be great for you too.