You might consider working as a freelance digital marketer to earn extra cash. But what exactly does that mean? And how can you tell if becoming a freelance digital marketer is right for you? In this post, we’ll explore the details of freelance marketing and weigh its pros and cons to help you make an informed decision about how to move forward in your digital marketing career path.
I started freelancing to make extra money while working full-time at my corporate job. But now that I’ve been doing it for several years, I love working on my own schedule and getting paid by the hour instead of by the project (which never seems fair). Keep reading my post on “how to become a freelance digital marketer” if you’re interested in pursuing a freelance digital marketing career!
What is freelance digital marketing?
Working as a freelance marketer means working independently–without an employer. Freelance work is individualized to each job or task; companies outsource jobs and tasks in various fields to freelancers. Working as a freelancer has advantages and disadvantages, which I’ll cover later in this post.
What does a freelance marketing professional do?
A freelance digital marketer provides digital marketing services to businesses, nonprofits, and organizations as a contracted freelancer (not an employee).
Freelance Digital Marketers often work with paid advertising such as Google Ads, Facebook Ads, YouTube Ads, etc. They also create video content such as ideation/script writing/shooting/editing/publishing, and promoting videos; they may also do influencer marketing or search engine optimization, including keyword research, SEO content creation, and building backlinks. They often will manage entire sales and marketing funnels too- which could include one or all of the above-mentioned tasks.
How To Became A Freelance Digital Marketer
I wanted to earn extra income on the side. I needed a side gig and hustle. So I started to look for side jobs that would also earn me money. This eventually led me down the path of becoming a freelance digital marketer, and I have never looked back since. It was the best decision I have ever made because now I make my own hours, set my own prices, and only work on exciting tasks or bring value to my life.
However, you must be aware that being a digital marketing freelancer has challenges and takes a lot of time. While I could have continued working for a big corporate agency, I decided it would be more beneficial for me to work independently. That way, I can work on projects that interest me or earn me money without having anyone give me orders and deadlines to meet. It’s up to you as a freelancer whether you’d rather stick with what you know and continue with your clients or start something new from scratch–maybe both! If you are planning to go down the freelancing route, then it’s important that you plan for your future.
It can be especially hard for freelancers in their 20s and 30s who aren’t quite sure what they’re doing with their lives yet. That said, many people work as digital marketing freelancers out of necessity or passion while they pursue other interests at another time. If that sounds like you, then congrats! You’ll love it. If not, make sure you do your research before taking on freelance clients to know what’s involved from day one.
As a digital marketing freelancer, you’ll have no guaranteed paycheck and may need to save more money if you want to retire early. There are also no health benefits or a 401(k) match, which was holding me back.
According to Investopedia, one way around these issues is to start your own business, and that’s exactly what I did. I started an LLC so that I could establish my business. Even though being self-employed might seem risky (and potentially overwhelming), it does give you some benefits that regular employees don’t get – including freedom over where and how much you work. But being self-employed means you have to cover your own health insurance.
Get a Self-Employed Healthcare Plan
The best way to figure out what option suits you is to look at The Health Insurance Marketplace (Healthcare.gov) or to browse Freelancers Union’s page. If you are in good health, you might be better off with a high deductible plan, which would give you a lower monthly premium and a chance to contribute to a Health Savings Account (HSA). HSAs provide a tax benefit and the ability to save for future medical expenses.
A self-employed digital marketing freelancer can deduct contributions made to an HSA from their taxable income, up to $3,350 for individuals and $6,750 for families. Additionally, when money is withdrawn from an HSA, it is not taxed as income. With all of these advantages, it’s important that you understand how your plan works before you make any contributions.
As with any major financial decision, it’s always best to consult a professional who can help guide you through your options. Consider speaking with an accountant or financial advisor about the best option for your business. And remember—you don’t have to go at it alone!
The Health Insurance Marketplace has tools on its website that can help you calculate costs based on your age, location, and family size—and even provide side-by-side comparisons between plans so that you can easily compare coverage levels and prices without having to enter personal information more than once.
Set up Your Own Individual Retirement Account
You’ll have to save and make your own retirement account. You’ll want to set up an individual retirement account (IRA) since you won’t have an employer-sponsored 401(k). Your best bet is to open either a traditional IRA (funded with pre-tax dollars) or a Roth IRA (funded with taxed dollars). There’s a $5,500 yearly limit to how much can be contributed to both options or a $6,500 limit if you’re over 50.
You can also consider opening a SEP IRA designed specifically for self-employed people. With a SEP IRA, the contributions are tax-deductible, and your money grows tax-deferred. The maximum annual limit you can contribute is 25% of your yearly income, or $55,000. If you’re married, both spouses can make their own SEP IRAs; each spouse has their own contribution limits.
A SIMPLE IRA (Savings Incentive Match Plan for Employees) is another option if you’re self-employed, but it’s only available to small businesses with 100 employees or less. The annual contribution limit is $12,500, and no income restrictions exist.
The most important thing about setting up your own retirement account is that you start saving as soon as possible, even if it’s just a little bit at first. The sooner you start saving, the more time your money has to grow and compound over time—and that means more money in your pocket down the road!
Why I Chose Digital Marketing As a Career Path
I became a freelance digital marketer because I enjoy helping businesses grow and expand their online presence. Marketing has always been a passion of mine. I have always wanted to get into marketing. I would purchase books on advertising so that I could learn how brands were able to persuade consumers to buy their products.
Even though my current role requires me to wear many hats, it’s similar in nature to how traditional marketers used to create brand campaigns; we simply have new tools at our disposal now!
One of my favorite parts about being a freelancer is that every day brings something new. There are no limits or boundaries on what you can do, which means there are also no limits or boundaries on your success.
If you have an idea for a campaign or an interest in learning more about certain areas of digital marketing, then you can take classes and read blogs related to those topics as much as you want!
One of my biggest challenges has been finding clients who understand that I am working with other clients at any given time. It’s hard to find clients who understand that even though I am their main point of contact, I still need time to work on other projects.
The best part about being a freelance digital marketer has complete control over how you spend your time daily. When someone hires me as a freelance contractor, they get all of me–including weekends and holidays!
The Pros of Being a Freelance Digital Marketer
Most of us spend lots of time at work, and rather than do something enjoyable or spend time with family, we are often chained to our desks and working. This can lead to some serious weariness (or lack of motivation), though fortunately, there are better ways to complete work – and being a freelancer might be one of them.
You’ll enjoy the benefits of working as a digital marketing freelancer.
- Flexibility: You don’t have to stick to any particular schedule as a freelancer. You choose when you want to work and how much you want to work.
- Choose Your Clients: As an independent contractor, you aren’t obligated to take on every client that comes your way.
- Make More Money: Freelancers often make more money than full-time employees because they’re in charge of their own pricing and don’t have to split their income with a company or team of co-workers.
- Opportunity for Advancement: As you gain experience, you can increase your rates, take on more clients, and get better at what you do.
- Have Fun: You’re doing something you love (marketing), so staying motivated is a lot easier.
The Cons of Being a Freelance Digital Marketer
There are disadvantages to being a freelance digital marketer. One of these is that as an independent contractor, you do not receive employer benefits, such as paid time off or insurance. If you need time off for health reasons, it will be up to you to cover any costs from your personal savings. Another downside of freelancing is that your income can vary monthly depending on how many clients you have at any given time.
So while being a digital marketing freelancer can offer some benefits over working as an employee, there are also downsides you should be aware of before making your decision. This is especially true if you’re considering going into business for yourself because, while having your own company means more flexibility in your work schedule and more freedom to decide how to approach projects, it can also be harder to find consistent clients with steady cash flow. If you’re not prepared for these differences and get overwhelmed by self-employment, it may affect your business adversely in some areas and may not be worth pursuing.
While some consultants work with multiple companies, others may only work with one client over an extended period of time and then not see work again for weeks or months at a time. It’s important to keep money coming in even when you aren’t working so you don’t get behind on bills.
Because you don’t have an employer who pays into Social Security for you, getting health insurance can be tricky unless you buy it yourself. Also, because there’s no W-2 form issued by a company paying taxes on your behalf, retirement accounts such as 401(k)s and IRAs become less beneficial than working full-time for someone else.
There are disadvantages to being a freelance digital marketer. One of these is that as an independent contractor, you do not receive employer benefits, such as paid time off or insurance. If you need time off for health reasons, it will be up to you to cover any costs from your personal savings. Another downside of freelancing is that your income can vary monthly depending on how many clients you have at any given time.
So while being a freelancer can offer some benefits over overworking as an employee, there are also downsides that you should be aware of before making your decision. This is especially true if you’re considering going into a freelance business for yourself because, while having your own company means more flexibility in your work schedule and more freedom to decide how to approach projects, it can also be harder to find consistent clients with steady cash flow. If you’re not prepared for these differences and get overwhelmed by self-employment, it may affect your freelance business adversely in some areas and may not be worth pursuing.
While some consultants work with multiple companies, others may only work with one client over an extended period of time and then not see work again for weeks or months at a time. It’s important to keep money coming in even when you aren’t working so you don’t get behind on bills.
Because you don’t have an employer who pays into Social Security for you, getting health insurance can be tricky unless you buy it yourself. Also, because there’s no W-2 form issued by a company paying taxes on your behalf, retirement accounts such as 401(k)s and IRAs become less beneficial than working full-time for someone else.
How To Get Started With Freelance Digital Marketing
The first step in becoming a freelance digital marketer is looking for clients. You could use traditional methods like cold calling, but this method also doesn’t work. It would probably be easier to find potential clients online through sites like UpWork, Fiverr, Bark, and Thumbtack, where you can find freelance digital marketing jobs.
Another reason why being a freelance digital marketer may be right for you is that there are many different paths to take when it comes to finding clients. In addition, you could also use social media platforms like Facebook, LinkedIn, and Twitter to connect with people who need help from an online marketing expert.
I have been freelancing since 2012, so I have learned many tricks to help you succeed at freelancing. After all, I do everything myself, including design, development, and SEO, so I know what works best. Some freelancers prefer doing everything themselves, while others prefer outsourcing tasks such as coding and graphic design to other professionals. This is a great way to get in touch with other professionals in your field, potentially making a solid and much-needed team of your own.
Another benefit to being a freelance digital marketer is that it can be a very profitable line of work. I can make well over $100,000 per year working remotely! Although I only work 20 hours per week, it doesn’t seem so bad to me. In other words, it’s possible to make more money working fewer hours but, in return, you’ll be dedicating less time to it.
Freelance Marketing Skills That Can Help You Be More Productive
From Google Docs and Trello to Slack and Skype, freelancers have plenty of online tools that can help them streamline their workflow. If you’re thinking about becoming a freelancer, be sure to take advantage of everything these tools have to offer. A tool that works well for one freelancer might not be as useful for another!
The best way to determine which tools will be most useful for your freelance business is to take a step back and think about your goals. What are you trying to accomplish, and how do you plan on achieving them? I like to keep my options open by trying them out, and most of these tools offer trials so you can try them before buying them.
Below are a few of my favorite productivity tools available for free.
- Google Drive comes with 15GB of free storage space (that’s more than Dropbox), but what makes it powerful is its word processor, spreadsheet editor, presentation builder, and drawing tool—all connected in one place. This saves me from having to bounce between different apps just to write an email or make a quick chart.
- Trello for Project Management: I use Trello to manage my projects and update clients on deliverables. We can collaborate in real-time on different tasks, share ideas and work through ideas together. It’s more than just project management software; I also use it for personal tasks because it helps me stay organized.
- Slack for Communication: It is another of my favorite tools because of its versatility—it’s great for remote teams or freelancers working on various projects and those out traveling!
There are many opportunities for digital marketers to get ahead, such as content writing for Search Engine Optimization (SEO), a digital marketing consultant for Facebook ads, and freelancing as an affiliate marketer. Jump in there and try it!
