Enjoy a lucrative career as a freelance marketer.
Marketing and advertising procedures have been used by people all over the world to sell products and promote services for decades. As society evolved, so did marketing techniques. With today's modern technology--namely the Internet--new opportunities in marketing careers are steadily increasing and lucrative careers in freelance marketing are one of the perks. The average salary in freelance marketing varies dramatically, since there are numerous areas of concentration. As a freelancer you'll often have the ability to establish your own income level.
Getting Started
You don't need a college degree to succed in marketing, but it helps.
According to the CV Tips website, the annual net salary for freelance marketing consultants is between $42,362 and $94,759, but don't expect to make that kind of money right away. To be successful in freelance marketing you must have some form of education or training related to the industry. It is recommended to have a degree in business management with a concentration in marketing to achieve maximum success. However, you may be able to bypass college if you are able to attain comprehensive web marketing training through workshops or internships.
Areas Of Concentration
As a freelance marketer you'll find that there are numerous areas you may specialize in that vary considerably in compensation. You can choose to become a freelance marketing graphic designer, consultant, copy writer or brand marketer, just to name a few. Finding your niche is good way to reap maximum rewards and produce quality results for your clients. However, having knowledge in multiple areas leaves you open to more opportunities, hence a potentially higher salary. According to career websites like CV Tips, Career Bliss and Indeed, in 2010 a freelance marketing copywriter earned between $34,850 and $67,820 per year. The average salary for a freelance marketing consultant is around $45,000 but can rise as high as $1.5 million annually.
Geographical Variance
Your salary may vary according to your work location.
Where you live or choose to work can make a major difference in your rate of pay. The geographical location of your clients and your local economy will be a considerable factor in how much you can expect to get paid. According to Indeed, as of November 2010 the average yearly salary of a freelance marketing graphic designer in Chicago or Los Angeles is $51,000 while in New York City it's $63,000 and in Dallas it's $47,000. In smaller cities salaries tend to decrease. Troy, Ohio checks in at $45,000 and Ann Arbor, Michigan's average salary is just $37,000 for the same position. If you choose to work partially or even exclusively online, you can earn "big-city" dollars no matter where you live.
Variables
There are certain variables that you must consider when estimating your potential earnings as a freelance marketer. Your salary will likely reflect your level of education or training, specialty skills and amount of experience in your field. The more training and hands-on experience you have under your belt, the greater your earning potential. You should also take into consideration what types of clients you want to attract and what your competition is charging for similar services. If you work locally, you can expect to earn a statistical average annual salary correspondent to your location. If you choose to work online, you may find you are charging varied prices for identical services depending upon where your clients are located.
Setting Your Freelance Pay Rate
Choose the right formula for you to set your pay rate.
As a freelance marketer you will often be able to either negotiate payment with your clients or set your own flat rate. Knowing what to charge your clients may be confusing at first, but following a few common pricing methods can help you get an idea of fair and profitable fees for your services. There are many formulas for establishing a pricing scale. The simplest one, used by many seasoned professionals, is to establish how much you want to earn for a project and how many hours you anticipate working on it. Divide your dollar amount by estimated work hours to calculate your hourly rate. According to Sitepoint.com, after deducting overhead expenses a typical profit margin is about 20 percent.
