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Happy Holidays!

I’ve been lucky to have steady growth in my solo consulting business. Until this year.

Here’s how revenue grew each year:

2020: 18%
2021: 22%
2022: 21%
2023: -32%

2022 was my highest-grossing year ever, but 2023 brought me back down to 2020 levels.

When I started in 2019 my focus was freelance writing and social media marketing.

The growth from subsequent years came from strategy and consulting roles that were billed hourly or on monthly retainer.

Here are three factors impacting my 2023 results.

Layoffs

Most of my clients are B2B technology companies. A lot of tech companies announced layoffs in Q4 2022.

Right when I thought the layoff surge was done, more layoffs were announced throughout the first half of 2023.

On January 20, 2023, Google laid off 12,000 workers. 

These companies hired aggressively throughout the pandemic when money was cheap and growth was a given. The layoffs were both a reckoning and a recalibration.

The likelihood that these same companies needed a freelance writer or consultant was low.

A changed social media landscape

Changes at social media platforms were already afoot.

Then the Elon acquisition of Twitter closed on October 27, 2022.

He laid off most of the company, renamed the service and chaos ensued. Advertisers left in droves and in my opinion, the platform has become less relevant.

Companies I’ve worked with no longer post on Twitter/X, Facebook and Instagram, instead focusing their efforts on LinkedIn, both organic and paid.

I no longer get inquiries about helping brands with their social media.

If anything, I’m seeing some interest in “executive branding” – helping leaders manage their online presence (e.g., their LinkedIn profiles).

AI

The elephant in the room.

The world changed on November 30, 2022 when OpenAI launched ChatGPT.

B2C media brands experimented with AI-generated content. Most received backlash for their shoddy efforts (e.g., Sports Illustrated).

B2B brands don't produce 100% AI-generated content (as far as I'm aware), but I know they're all using or experimenting with it.

I think the right approach is to use AI as an assistant on your content team, with a human in the loop. 

What this means, though, is that content teams can be more cost-efficient – humans working with machines, and less so with other humans.

While others (see below) are seeing steady demand for freelance writing, it's dried up for me.

My opportunities probably lie in being the human in the loop – managing the machines in managing the content.

Conclusion

Three dates set the stage for what I saw in 2023:

  • October 27, 2022
  • November 30, 2022
  • January 20, 2023 (as a proxy for the tech layoffs)

I’ve told friends that I’m working through an existential crisis, trying to figure out where my consulting services fit in this new world.

I’m approaching 2024 with open eyes.

I’m thinking of this line from Friday Night Lights’ Coach Taylor:

Clear eyes, full hearts, can't lose.

Around the Corner

What others are seeing

I reached out to other freelancers and consultants to ask about their experiences this year. This is what they had to say.

Lee Densmer



Globia is a content marketing agency providing content strategy, editorial planning and content development. My area of expertise is taking content global (creating content that aligns with foreign markets). 

I have been able to build my business by targeting a very specific vertical: the translation and localization industry. I know exactly who the businesses are in this vertical and who within them would want to buy my services, so it’s been relatively easy to focus my sales efforts and find the work owner.

If I did not have clarity on my target company/buyer this would have been much much harder.

Lee Price



I run a small consulting firm. My clients are B2B leaders and marketers who need a thought partner or ghostwriter on their most important communication. 

Overall, revenue for 2023 was strong -- stronger than 2020 and 2021, and just behind 2022. 

In the middle of the year, my revenue tanked. Clients were spooked and not spending after layoffs in the tech industry and general economic uncertainty. But in Q3 and Q4, my work picked up again and helped the year end on a strong note, with revenue looking good going into next year.

Christopher Gillespie



Fenwick's a six-person content studio that offers uncommonly clear writing and design. 

We'll end the year 10% below last year, which is not how it was looking in June, but then everything returned in September, so this feels like quite the win. Next year is looking even better than 2022. 

Fenwick began 2023 with all the contracts we’d need. Then, a long anxiety. Then a series of crises. But I’m now proud to say we’ve weathered them, and there were no “reductions in force,” nor any other euphemisms of note.

Emma Siemasko



I provide content services, specifically longform content (articles and guides), case studies, and a little bit of web copy. Most of my work is for SaaS companies, though I do a bit of consumer tech here and there.

In the fall, things seemed to recover a bit but I don't have the client roster I would've expected and barely any leads are coming in. I've been doing this since 2013 (10 years!) and this has been a NOTABLE change– I also saw a lot of my peers complaining of burn out and needing to take breaks.

Many seemed "over it" this year. I'm optimistic that 2024 will be a better year as the market seems to have stabilized (and my personal life will hopefully get less demanding, as well.

Stephanie Trovato



I'm a freelance B2B SaaS writer and I've operated under my own business (Big H Marketing, LLC.) for the past 4 years.

2023 was my best year yet, but not without its hardships. This year included my 2 lowest months, losing 50% of my clients in one month, and an accident that resulted in a traumatic brain injury that got in the way of quite a bit.

But I was able to persevere due to being very persistent in my client search, asking my network for help and referrals, working with some really solid retainer clients, and finding clients that understood the value of my work and paid me well for it. 

Kristen (Kris) Hicks



I'm a freelance content marketing writer. I primarily write blog posts and longform content like ebooks and guides for clients in the B2B tech space.

The first 6 months of 2023 were the slowest my business has been since my earliest days of freelancing (over 12 years ago). Work never quite dwindled to nothing, but many clients faced layoffs and cutbacks, and new leads were scarce.

I heard from other freelance writers facing the same slowdown, which was both scary (it's the whole industry!) and somehow comforting (at least I knew it wasn't just me).  

In the second half of the year though, work started to pick up and the past 6 months have helped make up for the first 6. Somehow, I'm ending the year in a pretty similar place in terms of earnings to last year, and 2024 is looking promising.

Ashley Baker



Coastline Marketing LLC is a boutique digital marketing agency based in Northeast Ohio. We are experts in crafting captivating narratives that drive and convert high-quality traffic, empowering our clients to effortlessly surpass revenue goals.

Compared to last year, business was a bit slower than usual.  Our business experienced a deliberate shift in focus. The arrival of our first child prompted a strategic decision to prioritize expanding services for existing clients over new client acquisition.

Although this choice resulted in a more measured pace for the year, it allowed us to thoroughly reevaluate and enhance our offerings.

By introducing innovative alternatives to conventional industry tactics, we achieved noteworthy results. As we step into the New Year, our team is energized and committed to both maintaining this momentum and welcoming new clients into our portfolio. 

Next Meetup
Integrating AI Into Your Content Creation and Optimization

Presenter: Brian Piper, Director of Content Strategy and Assessment at University of Rochester

Discover how you can leverage AI to assist with content creation, distribution, and optimization. Whether you are creating written content, graphics, videos, or podcasts, there are AI tools that can help you become more productive and more effective.

From ideation to performance analysis, there are ways that AI can supercharge your content processes.

Date:
January 4, 2024, 12pm to 1pm PT

RSVP:
https://www.meetup.com/bay-area-content-marketing/events/298054544/

Note: Thanks to our sponsors, Hushly and ToTheWeb.
Question Corner
Content Corner will return in January.

How has 2023 been for you?

-Dennis.
Copyright © 2023 Bay Area Content Marketing Meetup, All rights reserved.


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