So you’ve decided to become a copywriter. Congrats! You are in for a lot of fun, and you will learn a lot. Though there is no exact figure available, it is estimated that the demand for copywriters will grow by 22% year from 2020 to 2025.
And you want to make sure you are compensated properly for your efforts. What should you charge?
The answer may surprise you. So let’s look at the numbers.
The Demographics Of Copywriting
According to the American Association of Advertising Agencies (4A’s) 2020 Market Research Report, there are currently 126 million American adults between the ages of 18 and 64. Of this population, it’s estimated that 12.7 million are actively seeking employment online. This represents a significant demographic shift, as in the past, more people were likely to have a full-time job and be retired by the age of 45.
What does this mean for your business? It means you have a lot of room for growth. Now is the perfect time to seek out this rapidly growing population, as there are already many successful digital marketers who can serve as mentors and guides for your professional development. If you’re looking to learn about digital marketing, you can start by reviewing their blogs, listening to their podcasts, or checking out their YouTube channels.
Here’s a glimpse at the demographics as they relate to copywriting:
- 61% of this group are likely to buy online, compared to 19% who are likely to buy offline
- 55% of this group like engaging with content that provides useful information, compared to 28% who prefer purchasing products that appeal to their senses (sales techniques)
- This demographic favors shorter forms of content such as social media posts and online reviews, as opposed to longer-form articles (26% prefer reading longer articles, compared to 14% for shorter ones)
- This demographic is more focused on price compared to other groups (32% are concerned about price, compared to 27% who are not). This is likely due to the fact that 17% of this group is making an online purchase for the first time, and 24% have a family member whom they’re caring for while buying online.
The Industry Of Copywriting
While the demographics of copywriting are evolving, the industry remains largely the same. According to the U.S. Bureau of Labor Statistics (BLS), there are currently 324,000 occupations in the United States that require a bachelor’s degree. Of these, 37.9% are in the health care sector, 15.2% are in the educational sector, and 11.9% are in the arts and entertainment sector. What does this mean for your career? It means there are a lot of lucrative opportunities in the industry. Though competition is high, you have a chance to make your mark and build a niche for yourself.
Here’s a glimpse at the occupations in more detail:
- Registered Nurses (RNs)
- Nurse Anesthetists (ANES)
- Physical Therapists (PTs)
- Medical Assistants (MAs)
- Dental Assisting (DA)
- Pharmacy Technicians (Pharms)
- Medical Laboratory Technicians (MLTs)
One thing you’ll notice about the above occupations is that, with the exception of pharmacists and medical laboratory technicians, the others pay relatively well. According to the BLS, the average annual salary for registered nurses is around $70,000, with nurse anesthetists earning an average of $92,000 and physical therapists earning around $60,000 per year. Medical assistants, on the other hand, earn a little less than $36,000 per year on average.
As a copywriter, you’ll be compensated based on the complexity of the work you do. According to Copyblogger, a popular blog for copywriters, the average salary for a copywriter is around $60,000 per year, with the highest-paying industries including advertising agencies, marketing and communications companies, and media agencies. Additionally, the site reports that the average copywriter at these agencies earns around $120,000 per year. Finally, according to Payscale, a resource for salary data, the average salary for a copywriter is around $70,000 per year.
Though this seems like a lot of money, keep in mind that the figures above don’t include overtime, bonuses, or commissions you may earn. Additionally, many of the above occupations allow for a lot of growth, as 15-year RNs, for example, can advance to become LPNs or LVNs, and subsequently earn a higher pay rate. Though the industry can be highly competitive, it’s still a good place to start.
The Job Market
Though there isn’t an exact figure available, it is estimated that the demand for copywriters will grow by 22% year from 2020 to 2025.
Based on this forecast, there should be plenty of opportunities for you to grow your business. However, if you want to succeed as a copywriter, you must be prepared to negotiate your pay rate. Though the above figures may seem like a lot of money, you must consider the fact that many agencies and freelancers’ websites will only offer you what they’re comfortable paying. As a copywriter, you’ll have to find the balance between what you’re worth and what they’re willing to pay.
If you’re going to be writing lots of articles or creating lots of content for your blog, you’ll need a reliable and efficient way to write. Luckily, there are several inexpensive options available to you, all of which can help you along the way.
For instance, if you’re a fan of Microsoft Word, you can get the software for free. Though there are several features within this popular word processor that you may not need, many professionals prefer using it over alternatives because of its ease of use and familiarity.
Additionally, if you’re an Android user, you can download the Microsoft Word app from the Google Play Store. This app is compatible with all Android phones and tablets and is completely free. Though it may not offer some of the advanced features in the Microsoft version, it does provide a basic writing toolset that should suffice for most copywriters. If you’re looking for a reliable writing app for Android, this is a good choice.
Where Can I Sell My Skills?
Though there isn’t an exact figure available, it is estimated that 12.7 million American adults between the ages of 18 and 64 are seeking employment online. If you’re looking to sell your skills and gain experience, now may be the right time to do so. Though finding the right buyer may seem difficult, the internet and social media make it much easier for you to connect with potential customers.
Additionally, LinkedIn, the world’s largest professional networking platform, allows you to find employers who are in need of your services. With over 197 million users, this is the perfect place to grow your network.
Once you have a decent network, you can start applying for jobs online that are directly related to your field of expertise. Additionally, you can use your network to connect with recruiters who are representing potential employers. Through social media, you can also keep track of job openings, new projects, and relevant career advice.
If you’re seeking further employment, or just want to increase your earning potential, now may be the right time to do so. There are currently many lucrative career paths available to you. Though the industry is largely focused on marketing, you have a chance to build a niche for yourself and become the go-to person for your area of expertise. Just remember to be picky with the clients you work for, and seek out opportunities that pay well.