It’s been a while since I’ve updated you on the progress of my blog. I’ve recently been doing some serious blogging, so I figured it was time to give you an update.
Before I get into the nitty gritty details, let’s discuss the pricing model. Most bloggers and social media content creators I’ve come across utilize a hybrid model for their copywriting needs. This is designed to combine the flexibility of hourly work with the predictability of a retainer.
Typically, this type of arrangement works like this. You’re either paid per post or per piece. For example, say you’re asked to write a guest post for a brand. You’d firstly need to agree on the terms of the engagement, such as the number of pieces you’ll produce and the dates they’ll appear on. Now, you can either write the post at an agreed-upon rate per post or per piece, or you can choose to work on the project on a freelance basis. You’d then need to negotiate a payment plan with the client.
While there’s nothing incorrect with this approach, let’s examine why this is the preferred model for digital content creators.
Pricing Stability
One of the primary reasons why bloggers and social media content creators choose to work this way is because it provides stability in an otherwise unpredictable industry. When you’re employed full time, you at least have the security of a regular paycheck. Moreover, this way of working gives you the flexibility to take on more projects without having to worry about finding additional sources of income. Finally, since you’re working on a retainer basis, you’re not likely to be hit with any unforeseen expenses.
Flexibility
Another primary reason why many choose this approach is because it provides them with the flexibility to take on more writing assignments than they could possibly handle in a single month. When you have an hourly job, you have a set amount of hours you need to work each day. However, as a content creator, you can take on as many projects as you can handle. The only limit is your mental capacity. When you have an abundance of hours, you can actually choose how you want to spend your time. Moreover, because you have a set monthly fee, you don’t have to worry about being paid for the work you don’t complete.
More Projects
Additionally, when you have a retainer agreement with a client, you can actually ask them if there are any projects they wish they’d had the time to work on. Chances are, there will be at least one or two. As a freelance copywriter, you would then need to go ahead and complete the projects as fast as possible. However, as a content creator, you may choose to work on several projects simultaneously. This way, you’ll have more content to work with in the future. Moreover, since you have a set monthly fee, you don’t have to worry about running out of money in the middle of a project.
Eliminates Debt
Working on a retainer basis with a fixed monthly payment also has the effect of eliminating all of your existing debt. When you have a steady income coming in, it’s a very good idea to make a note of all your outstanding debts. Believe it or not, most people have an inflated view of their credit card debts. In most cases, it’s not as bad as they think it is. Nonetheless, if you’re serious about getting out of debt, it’s a good idea to look into alternative financing solutions. Fortunately, with a retainer agreement, you no longer have to worry about paying for your daily expenses or large credit card bills. You can focus on creating content and growing your business. Moreover, you can use the extra money you’re making to make payments or invest in growing your business. It really is a win-win situation.
More Income
As a content creator, you’ve undoubtedly heard the expression ‘it’s what is not said that counts’. This could not be more true when discussing income. What is not said tends to be just as, if not more important, than what is said. For instance, you might argue that you’re passionate about helping women with their beauty habits. In this case, you could become a trusted adviser to women seeking advice on their skincare. You may even decide to specialize in offering advice to this particular type of audience. Moreover, you can use your blog or social media platforms to build a brand for yourself as an independent consultant. Once you establish yourself as an expert in your field, you can begin to offer your services to others. In the long run, this could lead to you establishing yourself as a beauty expert, which could then lead to you becoming an entrepreneur, offering your services as a beauty expert to other businesses or individuals. It’s a win-win situation, as you now have a steady source of income and are able to establish yourself as an expert in your field.
Increased Confidence
As a content creator, you’re already used to writing. Moreover, in the event that you do have some trouble completing a piece, you have a steady source of income to fall back on. In other words, you can always look to your retainer to cover any expenses. This is a lot more confidence than you’d have if you were working on an hourly basis. Moreover, as a content creator, you have the opportunity to work with some truly amazing brands. This could further establish you as an expert in your field, attracting more and more high-quality clients. Working with these brands also provides you with the validation you need to believe in your work.
No Surprise Expenses
One of the biggest perks of this type of arrangement is that you don’t have to worry about being hit with any hidden expenses. When you have an hourly job, you need to be on the look out for things like meal cards, childcare expenses, and transportation costs. Moreover, since you don’t have a set amount of hours each week, you need to make sure you have enough time to cover the costs of getting to and from work. As a content creator, these expenses are all taken care of, so there’s no reason to worry about having enough money left over at the end of the month.
More Variety
Another perk of this type of agreement is the ability to diversify your income sources. For example, you might decide to begin selling and displaying ads on your site. Or, if you’re really skilled, you can even write press releases for businesses seeking to gain publicity. In addition to these options, you can even utilize your talents to make YouTube videos or build a Twitter following. All of these options provide you with additional ways to make money, so you can’t go wrong. Moreover, since you have a set monthly retainer fee, you don’t have to worry about running out of money. This is particularly beneficial if you get busy at the end of the month and don’t get any new writing assignments done. In this case, you’d need to make sure you have enough money to cover your expenses. However, as a content creator, you have a steady income source and can easily cover these expenses. Variety is the spice of life. We couldn’t live without it!
More Time For What Matters
When you have a set monthly income, you don’t have to worry about being rushed into completing a task. This is often the case when you’re working on an hourly basis. You might get a rush order, so you need to take the time to do it justice. On the other hand, as a content creator, you can take the time to craft a blog post that’ll be worth your while. Moreover, you can use this time to take a step back, breathe, and ensure the post is everything you promised it would be. In other words, you have the flexibility to do what matters most.
Hopefully, you now see why many choose to work on a retainer basis with a fixed monthly payment. Being a content creator is already hard work. To add insult to injury, the paychecks are usually modest at best. Working on a retainer basis with a fixed monthly payment provides you with much-needed stability. Moreover, it allows you to focus on what matters most – creating quality content for your clients and growing your business. If you’re serious about being a content creator, consider working on a retainer basis with a fixed monthly payment. Moreover, it’s the perfect opportunity to take a step back, invest in your business, and ensure you’re providing the best possible service to your clients. The sky is the limit!