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Copywriters: escape the “commodity trap”

January 19th, 2018 by Bob Bly

Subscriber DC writes, “What’s the biggest threat facing freelance
copywriters?”

Then he answers his own question: “It’s commoditization.

“To see where copywriting is going, look no further than
translation.

“This is now almost a commodity, in which freelance rates are in
a ‘race to the bottom.’

“In copywriting, barriers to entry are so low … and anyone
anywhere can bid for work.”

Then DC asks, “So how can copywriters avoid becoming a commodity
— what strategy works?”

To answer, here are 5 ways copywriters can escape the commodity
trap:

1–The “double pipeline” strategy.

You calculate the amount of marketing needed to generate enough
leads to keep busy.

Then, do twice that much marketing!

Result: a lead pipeline filled to overflowing — making you an
in-demand copywriter with more potential clients than you could
ever hope to possibly handle.

And when you have 2X more copywriting jobs offered to you than
you can take, then commoditization doesn’t matter.

Demand for your time outweighs the supply, and you eliminate
cutthroat competition or the need to compete on price.

2–The “niche” strategy.

Specialize either in a particular industry, such as financial,
health care, or manufacturing.

Or in a medium or copywriting task such as white papers, email
marketing campaigns, or long-copy sales letters.

The more narrow your specialty — e.g., direct mail selling
insurance — the more you can charge and the fewer your
competitors.

3–The “multiple streams of income” strategy.

If your gross revenue goal is $150,000 a year and all you do is
write copy for clients, you must get and complete $150,000 worth
of copywriting projects.

On the other hand, say you want to make $150,000 a year, and you
can make $25,000 in speaking fees, $25,000 in book royalties, and
$50,000 creating and selling your own info products online.

That adds up to $100,000. So the pressure is off, because now you
only have to make $50,000 a year in copywriting fees to hit your
$150,000 total revenue goal.

4–The “guru” strategy.

Write articles, publish special reports, author books, present
seminars, give talks at conferences, have a content-rich website,
build a Facebook group, tweet, and do other things to help build
your reputation as a guru.

5–The “superstar” strategy.

Be in the top 1% of copywriters in terms of results generated by
your copy.

This is an extremely difficult strategy as most of us have mixed
track records and almost no one writes a winner every time.

The preeminent copywriter in the superstar category today is
Clayton Makepeace.

All 5 strategies are essentially variations on one theme: Be
different in a way that makes you better or more desirable.

But it’s not enough to build or become a better mousetrap.

To get the world to beat a path to your door, you’ve got to
effectively communicate that difference to your potential
clients.

In Working Moms e-newsletter (9/7/17), Dan Kennedy writes:

“Project a powerful, persuasive, intriguing, compelling,
fascinating message. Is your message ordinary or similar to
others in your market? Is it plain vanilla? Easily ignored? Just
about the facts? If so, it needs to be doctored so that it
stands out. This is especially true if your product or service is
widely available.

“Review your marketing. Does it differentiate your business and
perhaps establish you as the expert people should work with,
regardless the cost? If not, it should.”

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This entry was posted on Friday, January 19th, 2018 at 10:45 am and is filed under Direct Marketing, General, Writing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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