What exactly is the “Gig Economy”? This widely popular term has grown as permanent jobs are much harder to come by. According to Techtarget, the gig economy is “an environment in which temporary positions are common and organizations with independent workers for short-term engagements”.
As full-time jobs become harder to obtain,more and more people are flocking to join the gig economy to make some extra cash and stay busy. Making some money with a short contract is better than not making any at all right?
This can be one of the fastest and easiest ways to gain traction for your marketplace. Influencer marketing has been around for years and with the boom of social media, the term has become more well-known. Take Instagram for example. Many celebrities post on their accounts wearing a certain brand or drinking a particular drink.
With a high profile celebrity they can make anywhere from a couple thousand to tens of thousands of dollars for ONE post. That sounds crazy doesn’t it? Their projected ROI is worth every penny to them. The fact that certain products can get in front of a huge audience to someone that has hundreds of thousands of followers can pay off. Image if only 1 percent of 100,000 people buy a product. That is still 1,000 people!
If you can find the right influencer to market your marketplace, it will pay itself back over and over again. Finding the right fit candidate will require lots of research and understanding how or what industry they are in to find your target market.
Thousands of people are looking for jobs and the sad reality is, the gig economy is the answer. Many businesses are adapting to the gig economy by hiring freelancers and seeking those who are looking for part-time gigs. While some may have already their 9-5 jobs, making a little extra income on the side doesn’t hurt.
According to a recent Forbes article, “Between 2000 and 2012, median family income dropped 8% while the average U.S. rent prices climbed 13%, increasing cost of living”.
So how do we keep a decent living when income is dropping? The trend of the gig economy helps supplement household incomes to keep up with the increasing cost of living. Now, people are working more hours than ever but being a freelancer has helped ease that pain as you can work on your “own schedule” to complete jobs. Instead of going into your typical 9-5 job, you can choose to divide your work however you choose (of course still meeting discussed deadlines).
How does implementing gig workers help my marketplace?
As you are looking to gain traction for your marketplace, using gig workers can be just what you need. Any job that you need can be done by a freelancer found on websites such as Upwork, Intel devmesh, Upside of Talent, or any other sites for experts looking to collaborate. Whether it’s design or simple marketing tasks it can all be done by gig workers.
Finding the right fit may come as a challenge but with a bit or research and work references, finding a gig worker will help keep costs of your marketplace to a minimum. Instead of hiring multiple people for each division of your business, keeping a few to each team and then outsourcing your work to gig workers can be very beneficial. Keeping the larger and more important task in house is a best practice but don’t be afraid to outsource some small work.
If you are looking for more advice on the gig economy, feel free to send us a tweet @NearMeCo!