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Mentioned in today’s newsletter: Facebook, Instagram, Amazon, eBay, TikTok, and Oracle. Plus three pricing tips for new freelancers, the importance of ABCs for service providers, and how to become an overnight celebrity in your niche.
Estimated reading time: 3 minutes and 49 seconds
Making the Rounds
- Internal memo reveals Facebook’s plan to take on TikTok. The biggest shift to the algorithm will focus on recommending popular posts from both Facebook and Instagram over ones from people you follow.
- Resale of stolen goods on Facebook, Amazon, and eBay is big business. Retailers like Louis Vuitton and Nordstrom have recently been the victims of large-scale robberies, and claim many of the stolen goods are being resold on ecommerce sites. A national task force of state attorneys has been convened to investigate cases across state lines.
- TikTok moves U.S. user data to Oracle servers. After leaked audio revealed Chinese employees had accessed U.S. user data, the company announced it’s moving the data to Oracle’s cloud storage platform.
Working With Clients
3 Pricing Tips For New Freelancers
TIP #1: Charge by deliverable (not by the hour)
If you’re a new freelancer, you may be tempted to start off charging by the hour.
But charging by the hour incentivizes you to work slower.
Instead, charge clients per:
– email
– image
– video
– landing page
– sales page
– etc
This way, there are no unexpected surprises for them if the job takes longer…
And you get rewarded if you can get it done quicker.
TIP #2: Ask for a 50% deposit.
Asking for a deposit helps weed out low-quality clients.
So if they’re not willing to pay you a portion of your fee up front, proceed with caution.
But if the idea of asking for money up front makes your palms sweaty, you could always reduce the amount to 25%.
One final caveat:
If it’s a small project (like under $100-$200), just ask for the full amount up front instead.
TIP #3: Get approval on pre-work if possible
Since you’re asking for a deposit, you want to make sure your first draft isn’t way off base so the client doesn’t feel like they’ve paid you for nothing.
The best way to do this is get pre-work approved.
In the case of copy, this could be an outline.
In the case of an image or video, this could be a creative brief
In the case of an ad campaign, this could be a campaign mockup.
Regardless of what your service is, getting the greenlight on pre-work will save you time and make clients happier.
Working For Yourself
Don’t Forget Your ABCs
If you’re a freelance service provider…
Learning new things is essential to staying competitive:
- New marketing strategies
- New ad platforms
- New skills
- Etc
But don’t let shiny objects distract you too much…
Make sure to review the basics of your profession at least once per year.
We’re willing to bet you’ll be surprised at just how much you’ve forgotten.
And while marketing and advertising are two dynamic industries in constant flux…
The fundamental principles still apply.
So if it’s been a while since you re-read Breakthrough Advertising, The Ultimate Sales Letter, or any of the other classics, carve out some time this month to review them.
Tools We Love
How to Become an Overnight Celebrity in Your Niche
Case studies and social proof are great.
But there’s one thing holding most freelancers back from charging premium rates and commanding an elite position in the marketplace…
Credibility (or a lack thereof).
And the fastest way to build credibility is to “borrow” it from somebody else…
By getting booked as a podcast guest.
Studies show podcast listeners are typically more educated, affluent, and active on social media than the average American.
And when prospects see (or hear) you being interviewed by someone else they trust, those feelings are instantly transferred to you.
That’s where Guestio comes in.
Their guest booking and interview platform allows you to cut to the front line and book yourself on shows like:
- Entrepreneurs On Fire with John Lee Dumas
- Build Your Network with Travis Chappell
- Franchise Secrets with Erik Van Horn
- And many more
No more jumping through hoops or sending out cold DMs.
So if you’re looking for the simplest and easiest way to build credibility and attract more of your dream clients…
Head over to Guestio:
Find your first (or next) podcast booking on Guestio today.
Quote of the Day
“The best revenge is not to be like your enemy.”
— Marcus Aurelius