Freelancers are making money. In a report by the Business New Daily the average freelancer makes almost USD$40,000 a year. Freelance Writers are a subsect of freelancers that are particularly winning. Ziprecruiter recorded a 2019 US national average of USD$63,213 a year for freelance writers, which is comparable to USD$30 an hour. In Canada, talent.com reports a salary of up to C$117,000 a year.
With the 2020 pandemic, the state of employment has facelifted. The technology has proven that workers can make solid and profitable contributions to the workplace from the comfort of their homes. In fact, Business News Daily reported that eliminating daily commutes gave workers a work-life balance, making them happy, and increasing their productivity. In addition, employers prefer seeking freelance work over hired employees, progressively. It is cost-effective and they are able to hire people who specifically focus on the project at hand. One could say that choosing a freelance writing career is a smart and sustainable move for the future.
However, to be a freelance writer, a fervour for writing is only half the battle. Choosing the right niche is imperative to jump-starting a fruitful career. It is important to create a reputable portfolio, with the most up to date content to attract booming companies who will pay you to be their mouthpiece. Here are some niches to consider in 2021, while building your freelance writing career.
1 – Cryptocurrency
Cryptocurrency is digital currency traded and verified by a decentralized system. Its importance to the world lies in the fact that it is not regulated by a centralized authority, like banks. In some cases, like Bitcoin, there is a limited amount of currency available. This means that supply is limited, therefore the value can only increase. It is a currency that differs from traditional money in the way that it doesn’t lose value as the cost of living increases. In fact it behaves very similarly to real estate, where the value increases over time. The most popular cryptocurrency to date is Bitcoin which has an estimated value of approximately C$60,000 per 1 Bitcoin. To put it in perspective, the year 2011 ended with 1 Bitcoin being approximately C$3. In 2013, 1 Bitcoin was valued at about C$93. Other popular cryptocurrencies include Etherum and Litecoin, which values have also increased considerably over the last few years.
In 2019 it was estimated that just under 20% of the world bought cryptocurrencies. However, as of 2020 institutions are climbing on board. Most recently, Tesla bought US$1.5 billion in Bitcoin and has put out statements that it plans to accept Bitcoin as payment. This not only means that the world of finance is changing rapidly, but it means that there will be a world of readers interested in these changes. As business investors, corporations, and civilians become eager to know more about cryptocurrency, there will be a great demand for writers putting out quality content on the subject. Would you consider writing about digital finance this year if it could make you thousands of dollars from home?
2- Digital Marketing
According to the Digital Marketing Institute, ‘the adoption of the internet into everyday life may be the single biggest event that affected marketing in the last three decades.’ Since Digital Marketing utilizes the internet as a customer touchpoint; companies can sell products beyond the restrictions of geography and time. This unprecedented development has created a high demand for qualified professionals who create leads through company websites, social media, emails, search engine rankings and corporate blogs. In fact, Webstrategies reported that as of June 2020, marketing budgets, as a percentage of company budgets, rose at the highest level in 10 years to 12.6%. Also, according to Forrester Research, based on a study done in 2017, it is expected that by 2021 Chief Marketing Officers will spend billions on ‘search‘ and email marketing, display advertising, and online video. It is also predicted that the average company planned to allocate 62.3% of its total media and budget to digital in 2021, with that rate increasing to 66.8% by 2023.
This is an incredible opportunity for writers. Whether or not you offer a wealth of knowledge on digital marketing or not. Now that companies are transitioning into freelance work, there are more companies expanding their budgets for writers, like you. You don’t necessarily have to blog about digital marketing trends, techniques, and best practices. You may even be a social media junkie that has tips on how to turn posts into profit. Or, a shopping fanatic that can share some call to action features on a website that have worked on you. Being a consumer is also valuable in the conversation of digital marketing. The digital marketing niche is a broad world in itself that demands writers as it is projected to expand further in 2021 and subsequent years.
3 – Alternative and Holistic Health
Holistic health is becoming more popular. It focuses on providing support not just for the physical aspect of one’s being, but fulfills mental, spiritual and social needs. Unlike traditional medicine and health care that largely focuses on prescription medication and medical therapies, alternative health is most relatable to us at home. Particularly in light of a rapidly spreading virus, people have begun to take their health more seriously at home. In fact, the home fitness industry exploded in 2020 with gyms being closed due to the pandemic. It is believed that resulting from an effort to keep our health workers safe, fewer of us visited the doctor in 2020 and considered at-home treatments and remedies. The Global News Wire reported high demand for immune-boosting foods in the food product market since Covid-19. There is an expected growth from $830 billion in 2019 to more than $1 trillion by 2023.
At home exercise and diet are only two small parts of holistic health. Brand Minds reports that the self-improvement industry which ranges from e-books, online courses, coaching programs, webinars, masterclasses, conferences, and mobile apps, is estimated to grow to $13.2 billion by 2023. In fact, the same study shows that millennials are willing to spend up to $300 a month on self-improvement. That means there are billions of dollars already circulating in the holistic health niche that you can take part in. Particularly since more people are working from home, they have more time to read about the things they could be doing from home to improve their quality of life. It may be as simple as writing about your personal self-care and alternative health tries, fails and routines. Alternatively, there is much research and studies to be written on how much of an impact this lifestyle really has on us over time. Whichever sub-niche you may focus on in the alternative and holistic health industry, it promises to be frugal.
Needless to restate, freelance writing works and pays you. With companies progressively seeking short-term contract work, outsourcing, and looking into more niche-focused writers, freelance writing is in-demand for 2021. Based on a few trends and lifestyle changes from the last year, holding a focus on cryptocurrency, digital marketing, and alternative and holistic health will be particularly bounteous in 2021.
Are there any other niches you want to focus on in 2021? Let me know!