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Seizing Opportunities
in the New Year
Freelancers Discover a Silver Lining in the Cloudy Economy
                   — by Jill Toole

If you’re operating a successful business, it’s safe to assume that a day doesn’t pass that you’re not trying to improve your position in the marketplace. Days become weeks, weeks become months, and soon another year has come and gone.

In this unending series of refinements and tweaks, opportunities to take a deep breath and ponder the “big picture” are rare. The month of January lends itself well to this sort of reflection and examination. The new year may represent a clean slate, offer a second (or third) chance, or promise revitalization and rekindle that spark to succeed.

However, your drive for success and glory in the coming year will not happen in a vacuum. Along for the ride will be your existing and potential customers. Rather than bemoan the company, and all the uncertainty it represents, remind yourself that its critical relationships offer the best means to uncover hidden or underutilized growth opportunities in your business model.

The Timing is Right for Growth

Due to the country’s latest recession, it is likely that for years your existing and potential client firms have been cutting staff (yes, particularly those marketing and creative folks). As a result they are sure to be lacking in these fundamental resources today. Companies have been slow to rehire permanent, salaried employees for fear of an uncertain economic future. However, after years of downsizing and stagnation, many are now beginning to see the potential for growth and are being forced into action by the increased activity of their competitors. Companies with savvy leadership understand that treading water indefinitely is unsustainable in this business climate. They recognize the need to spend time and money on marketing and promotion in an effort to increase awareness and influence sales.

The current shortage of staff marketing professionals is good news for freelancers as companies are being forced to look outside for creative resources. Contract services such as graphic design, collateral development, Web design, and writing will all be in high demand until this imbalance disappears. Though freelancers will always experience some degree of competition from in-house designers and writers, marketing departments are often free to use outside talent, particularly on narrowly defined projects. Marketing colleagues often outsource to freelancers as a means of tapping into particular skills or technical specialties, or as an avenue to access fresh, exceptional work.

“I have to use freelancers.
Most of my work is seasonal — it would cost too much to keep creatives employed full time
and keep the computer equipment up to speed with changing technology.”
– RW, Marketing Manager

Recognize Opportunities to Grow and Win New Business

Marketing professionals tend to remain loyal to freelancers they have utilized in the past. A close second would be those that have been referred by a friend, colleague, or approved supplier/vendor database. What message should this send to freelancers and small business owners? In a word, network. Join associations, attend meetings, and tap into your personal network of friends, colleagues, and acquaintances. Anyone in a position to champion your services and skill sets should be armed with your flyer, business card, or Website address. Similarly, treating your existing customers with respect and special care will also pay big dividends. Conclude each project on a positive note by asking, “Would you recommend me to others in your field? If not, please let me know what I can do to remedy this situation.”

“I tend to stick with those I’ve worked with in the past.
Building a working relationship and communicating goals with independent creatives
takes time and energy — it's not just about the price.”
– MK, Marketing Director

If your current network pool is weak it is imperative that you allocate the time and effort necessary to foster and strengthen new professional relationships. For years, a marketing manager colleague of mine utilized the same independent graphic designer to orchestrate sales and marketing collateral for her mid-sized technology firm. Generally satisfied with the relationship, she was not actively looking for a new designer. That is, until the competition came knocking last summer in the form of a direct mail piece. “I am rarely if ever solicited by freelancers. When this piece came across my desk, the quality and uniqueness of the work really caught my eye,” she said. She tested the new designer successfully with a small initial project. Since that time they have collaborated on numerous occasions, bringing a welcome fresh edge to subsequent marketing campaigns.

Given the potential for acquiring new clients in this fashion, it’s a shame that most independent designers and writers aren’t actively reaching out to their target market with such marketing tactics. Just look at the numbers. If even one percent of your direct mail efforts generate a new client (feasible by industry standards), sending out a mere 300 flyers to marketing contacts in your area would bring in three projects. You could reap considerable revenue for years from the repeat business and referrals harvested by a single modest initiative.

“I am definitely open to new contractors.
But I’ll be looking for someone who can come up with fresh, creative ideas
and presents multiple concepts without a lot of direction.
And, of course, I almost always need a quick turnaround.”
– DB, Marketing Director

Use This Knowledge to Articulate Value

To optimize the clean slate and fresh outlook enhanced with each new year, consider the following:
• How much of your 2004 revenue ultimately came from new clients?
• What are the primary reasons companies outsource work to you? Is it due to staff shortages, skill shortages, special projects that arise, seasonal demands, your style/quality/price, etc?
• How do you most often acquire work? Through referrals or partners, via advertising, joining associations or organizations, or getting on corporate “preferred vendor” lists?
• What do you feel are the strongest inhibitors to your business growth? Is it competition from other freelancers/contractors, low-cost competition, corporate use of in-house creative resources, your lack of exposure to the right people, etc?
• Which services (existing or potential) do you feel offer your best potential for revenue growth in the new year?

Answers to these and similar questions are critical to enriching your marketing and business development plans for the forthcoming year. Understanding when and why clients utilize creative services will help you decide how to develop your suite of skill sets and hone your proposals and professional exchanges. You will be better positioned to identify and articulate specific examples that demonstrate the value you deliver and how that value meets or exceeds the needs of your target customer.

Inevitably the New Year will bring a combination of successes and failures. But if you can capitalize on growth opportunities by better understanding your target market, come next January, you can look back on your business results for 2005 and honestly say, “I did my best.”

If you have ideas to share, please email us.

© 2004 Jill Toole, M.B.A.

More "Biz Expert" articles from the archives:
Do-It-Yourself Marketing: B2B Research on an SMB Budget, by Jill Toole
Getting Clients to Pay Up: Steps to Take Before (and After) Project Completion, by Jill Toole
Making Peace With the Tax Man, by Jill Toole
Every New Year Deserves a Good SWOT: A Quick Analysis of Your Biz Pays Off Big, by Jill Toole
Meet Me at the Water Cooler: You Won't Believe What I Just Heard, by Jill Toole
Honing Your Business Plan, by Jill Toole
It Pays to Get Connected, by Jill Toole