If you’re a writer, you’ll know that there are dozens of different ways to make money from your articles. You could sell them on a crowdfunded platform like Patreon. You could set up a direct sales team to sell and negotiate your own contracts. Or you could try your hand at affiliate marketing, earning a commission when a buyer clicks a monetized link or buys a product that’s promoted on your blog.
But how much do you get paid for your articles? Most writers will report being paid between $0.10 and $1.00 for an article that’s anywhere between 500 and 2,000 words. For an in-depth analysis of the freelance writing industry, check out this post by Content Marketing Institute.
Why Do You Need to Know How Much to Get Paid?
Because there are so many different ways to make money from writing, it’s important to know where your strengths and weaknesses lie. Do you have a winning combination of strengths (such as writing ability and computer skills) coupled with an incredibly powerful brand? If so, you may be able to negotiate a higher rate with brands and businesses that are able to see your strengths.
On the other hand, if you have a weakness (such as spelling errors or lack of familiarity with brands and products), then you may not be able to command the highest rates. Your best bet may be to find a job where you can use your strengths.
The Evolution of Freelance Writing
Over the last five years, we’ve seen the evolution of freelance writing. As businesses have shifted to more online platforms, a remote workforce has become more prominent. According to the Freelancer’s Handbook, there were 2.2 million US freelancers in 2016, and this number is expected to almost double by 2026.
What used to be a mostly male-dominated industry has become more gender-balanced. While many traditional freelancing platforms (such as Upwork and Fiverr) still favor men, freelancing websites like Amazon Mechanical Turk and Survey Junkie tend to have more even gender distributions. This trend is likely due to the fact that many of these platforms were designed for remote work and allow for more flexibility.
The Rise of the Multi-Billion Dollar Brands
In the last two to three years, we’ve seen an explosion of brand-sponsored content, as businesses have sought to capitalize on the power of their name in marketing and sales. From luxury goods and travel to tech and lifestyle brands, you’ll often see the same companies that you’d find in traditional retail settings (such as Nordstrom, Apple, and Louis Vuitton) show up in the content marketing world.
Take a brand like Juicy Couture. This Italian luxury goods company not only sponsors a variety of sports teams, it also has its own fashion magazine, two books, and a line of swimwear. To promote the 2020 Juicy Couture fashion line, the brand has opened three pop-up shops in New York, London, and Paris. The company also maintains an editorial team that creates content across platforms, including web, blog, and social media. This content is then tied to and supports the retailers and brands the company sponsors.
The ability for brands to have such a large impact on content creators simply by paying for content is powerful. In 2021 alone, luxury brands spent over $125 billion on ads and marketing. That’s up from $115 billion in 2019 and $105 billion in 2018. (Statista)
The Changing Demographics Of Today’s Writers
While there are many ways to make money from writing, if you want to succeed as a freelance writer, you may need to find a way to appeal to a different audience. According to HubSpot Blogs research, only 28% of the American worker population reads non-fiction while 18% prefer to consume fiction.
Based on these numbers, you may need to find a way to write for a digital audience or one that’s more focused on brand awareness and less on transactional content. What does this mean for you as a freelancer? It means that you may need to find a niche, identify a target audience, and specialize in content that they value.
If you’re looking to make some extra income, consider these tips from the Pros on how to become a successful freelance writer.