The number of buyers coming into one low cost Freelance Global Gigs (FGG) Low Cost Marketplace platform is exploding; the monthly number of buyers that have signed up with the FGG platform increased over 200% in just the month of March alone. We believe the large number of buyers are attracted by three facts about FGG:
- Buyers prefer Lower Cost.
- Buyers want True Global Resources.
- Connection to a Global Newspaper Increases Awareness of Freelance Services.
The facts are that FGG Low Cost Marketplace is about half the cost of the leading gig platform in the market, and that appears to be a bigger factor for buyers than the sellers. The buyer wants to buy smart and get more bang for their money. Looking at the statistics we would guess that having such a robust growth in the number of additional new monthly buyers might, in time, become even more attractive to new gig sellers.
FGG Low Cost Marketplace has achieve a truly global reach, with the biggest following in India and the United States. Even though FGG is growing buyers at an unbelievable fast monthly rate, it is our belief that FGG will soon see robust growth from other top counties, helping to make this a truly open global marketplace.
The statistics are telling us that the integration with Communal News alone was the single largest cause for the massive growth of new monthly buyers. Communal News has by far the largest number of their readers and followers from the United States. The integration with global news has brought in many more buyers than sellers into the system. In time, this robust growth of monthly new buyers should become very attractive to those sellers posting gigs.
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Why is the leading freelance gig business so expensive?
They spend close to half their revenues in advertising alone, making them unprofitable. They need to charge very aggressive fees to facilitate their aggressive growth model. Since they were one of the first companies to establish this new market, this gives them an economy of scale advantage, and they are using this, along with all of their other advantages, to aggressively charge higher fees.
The lower cost platforms have changed from If to When
The discount platforms are now starting to grow at unbelievable rates. FGG Low Cost Marketplace relationship with Communal News is producing an increase in monthly buyers at such a rate that they are starting to expand the entire freelance gig market. This is a needed effect for the discount market to become robust.
Low-cost companies such as FGG Low Cost Marketplace are exploding in growth. The freelance gig sellers in time will join this natural migration since they are the single biggest beneficiary, even though the sellers are still hesitant to move. Based on long-term history, markets shift to low-cost / discounted services and almost always increase the overall size of the market. This makes the overall freelance gig industry not only much larger but this effect also allows sellers to claim a much higher percentage of the overall revenues from their gigs services, gaining double the benefits.
The fact remains that until new low-cost markets become mainstream a single very large freelance gig company will, and can, continue massively overcharging for their services– continually hurting the small service providers that are trying to make a living working on that very price restrictive platform.