An examination of copywriting rates must explore the earning potential of both employees and contractors, (freelance writers). Where in previous days, employment as a copywriter was common, now freelance writing is much more common. The pay rates for both have changed greatly. As well, certain economic realities may reduce the employment opportunites, enhancing freelance ones.
A copywrite employee will earn a salary depending on their expertise and negotiating prowess. In 2005, the average copywriting was roughly $60,000. This included bonuses in the total remuneration package, according to Advertising Age. Details are available at their Internet site http://www.collegeboard.com. Nearly 10 years later, in mid-2014, the employment salary remains fairly similar, if not somewhat lower.
For freelance copywriters, the earning potential is much more difficult to quantify. Some writers are paid per project, others per hour, and others per word. In 2005, the web site excessvoice.com published an article describing copywrite rates for freelance writers at http://www.excessvoice.com/copyfees.htm. Notice that often the project purpose greatly influence the freelance bill amount. For blogging sites, payments are likely to be pennies per word. For lead generating sales letters, invoices can be for $1000 to $2000 per successful job. These figures are further clouded by freelance payments per lead. Similar to pay for click advertising, freelance copywriters may earn between $0.10 and $20.00 per bona fide delivered lead.
Website home page writing can often be a lucrative project for freelance writers. Payment may range between $300 and $400 for such an assignment. Further work may be expected for those who can write for a new, fresh web site. Indeed, many writers will establish a bundle of work for sale to a web site. This might include an engaging home page and several other content pages, all for a single fee. Depending on the web site niche, the invoice for such a bundle might be for $300 to $1000, or more.
Freelance writers report that about 40% of them earn between $50,000 and $100,000 per year in gross income. Survey data is available from several sources that further analyzes the realities of freelance copywriting. While some such data is freely available, other sources charge an access fee. Research into the data may show that a new freelance copywriter is actually undercharging for their services. Knowing the market may be an easy way to boost yearly income level for the same amount of work.
Many salary and freelance earning amounts are based on the average of surveyed copywriters. Individual factors may easily increase the market rate for an experienced writer. Specific knowledge in popular niche topics may be much more valuable than general writing ability. Writers can improve their earning potential by learning more about specific topic areas and writing more authoritative articles. In addition, relating information from several sources into a cohesive article can be profitable. This could be as simple as showing how project management principles can be used to save money and time for those planning a wedding.
As a writer with learned expertise in both project management and weddings, such an article could be seen to be highly valuable to a paying client. Copywriting services are increasingly important in the modern Internet. At the same time, more people offer such services. With volume, rates of pay tend to be pushed lower. By researching pay amounts from published surveys, and increasing relevance of articles for niches, copywriters can increase their own worth. In most cases, quality of writing is clearly more lucrative than quantity. As more information is published on the Internet, truely authoratative work is seen to be much more useful to readers. Better customer leads, or retained readers, are possible when article content is of higher quality. This will translate into higher pay rates for both employed writers and freelancers.
Diversification is often a valuable business tool for freelance writers. This may involve working for many clients in many different topic niche areas. As mentioned, quality should be emphasized over quantity. Research into the topic at hand will often be a required element for which no direct payment can be charged. Since the resulting article is better, or more effective, the time is usually well spent. Higher quality articles are worth more. They also tend to improve the possibility of re-engagement for the freelance copywriter. Research into the topic can then serve to enhance additional articles that are written about the same niche topic. Prices for subsequent articles can be even higher, or the freelance writer can expect to easily sell a bundle of several articles to the same client. With experience and knowledge, the writer can expect to charge higher rates per word, hour, or project.
Employees and freelancers should also be aware of the time constraints put upon their work. As demand for content increases, many clients, or employers, also expect very fast delivery of articles. This can be difficult for a well-written, quality piece of work. Certainly the initial assignment will see potentially unrealistic time demands being put on the writer. For an employee, this can result in a conflict with management. Again, quality can help the writer through the situation. By producing an initial article of very high quality, the writer can easily gain importance in the organization. Subsequent assignments could then be given as much time as the writer reasonably expects. Where deadlines might have been short, the writer of work known to be of very high quality will usually be given more time to produce another great article.
By researching rates of pay, writing opportunities, and niche sites, the copywriter can help to improve their own earning potential. This can translate into better yearly cost of increases or bonuses for the employee. It can translate into higher pay per word, or hour, for the freelance copywriter. If the niche area is also of interest to the copywriter then it will seem easier to be productive. Expertise can also be clearly seen by the client or employer. Everything can contribute to an increase in the bottom line of the copywriter, when adequate preparation is performed. Remember, however, always ensure higher quality rather than quantity of writing.
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(price as of Jun 28, 2015)
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(price as of Jun 28, 2015)