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Are you aware of the things your competition is doing right now? When working as a freelancer it is important to keep track of competing freelancers and from time to time gather valuable information. View this presentation and learn about five steps that will help you do so…
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FREELANCER TIPS Know what your competition is up to in 5 steps More freelancertips on www.freelancermap.com...
Know what your competition is up to in 5 steps • Keeping up with your competition is one of the most common advices for a successful freelance business. You need to know what is happening around you, where people in your field are headed and where their blind spots are. Furthermore, it is important to know how much your competitors charge for their services so you can adjust your rates accordingly. • Knowing what others in your field are doing can be advantageous in a lot of ways. But the question of how exactly you should do it often gets neglected. This is why we made a list of 5 steps that will help you track your competition and use that information to your benefit.
1) Follow industry analysts • We’ll start off with your competition from a macro perspective, getting more local and specific as we go along. The first step is to keep track of your field as a whole. The easiest way to do that is to observe the biggest companies out there. They are not your direct competitors, but can tell you a lot about where the field is headed as a whole. Instead of trying to keep up with every quarterly report and PR statement they issue, follow industry analysis. It is often done by independent companies which will objectively tell you what the current trends are, allowing you to act accordingly.
2) Attend conferences • Attending conferences and events is another great way to keep in touch with what people in your field are doing. These can be on a local, national or even international level. Everyone is most likely to present their successes, allowing you to take a page off their book and maybe try something new. Conferences are going to be one of the few possibilities to talk with a lot of your competitors personally and get to know them. Don’t miss out on it.
3) Taping into the social media stream • If you’re interested in a couple of companies that are working in your field and maybe even sharing your clients but you can’t talk to them directly, consider observing their social media activity. That might not get you the insider, top-secret information on current projects, but will still allow you to judge the overall direction they’re heading into. This will allow you to either keep up with what they’re offering or fill out niches that are getting less attention.
4) Ask former and new clients • The most micro-oriented perspective you’re going to get is from speaking to your clients about what made them chose you or your competition. Try to determine why your former clients decided to no longer make use of your services. Similarly, assess what made new ones opt for you rather than for your competition. This will help you judge your own strengths and weaknesses, as well as those of the other side. As a result, you can act on improving the bad and capitalizing on the good aspects of your work.
5) Don’t over-obsess and forget your own vision • In conclusion, keeping up with your competition is extremely important and nobody will tell you otherwise. But, and that’s a huge but, don’t let comparisons with others cloud your judgment and forget where you’re headed. Don’t obsess too much over what others are doing, forgetting your own vision of how your freelancing venture should work. This is your business, your idea, your dream. It is essential to know where others are headed, but not necessarily the best idea to blindly follow them there.
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