When reviewing freelance gig platforms, the very first thing you consider is total cost, and if the platform hides the cost then move on. The large gig platforms charge as high as 27-28% of every dollar. In today’s internet, this is online robbery.
When the investment world went to the discounted platform, not only did they take market share from their more expensive alternatives, but they opened up new markets that greatly expanded the total investment market– especially in the total number of participants. We realize this is not an apples-to-apples comparison, but almost all markets expand when the costs to the individual participants are reduced.
Now that low-cost platforms are starting to see real traffic growth globally, with a significant increase in buyers, it could be sooner than you think when the mass migration of gig providers themselves start turning up. Based on history, the low-cost platforms will, and possibly are, starting to grow faster than the high priced legacy platforms. The facts are that over time the lower cost platforms almost always win.
With Freelance Global Gigs (FGG) Low Cost Marketplace Low Cowe are seeing a 100% increase in traffic in the last three months alone, with buyers growing about ⅔ faster than sellers. Please remember FGG is far better at promoting the gig sellers than most platforms, so it is surprising that the buyers side is growing at almost a 2 to 1 rate.
The market will eventually turn from small isolated, individual country gig platforms, to the large gig providers with global services who provide greatly expanding gig coverage. If you’re a seller, would you prefer to sell your products globally to the entire world, or instead prefer only to sell in a single country? Having access to buyers globally is especially important if you offer niche services. Once you realize that platforms such as FGG Low Cost Marketplace can translate your gig into nearly every language in the world, you understand that adding companies such as FGG to your marketing plan will help to significant expand your services. With the platform costs coming down fast, those benefiting from the lower price could help to expand the overall market many times over.
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Aside from cost, global gigs providers should benefit from the COVID-19 outbreak, in time even helping to expand the market. This makes global gig work even more attractive, due to the fact you can provide global services while still being isolated in you own home, office or country. The single best way for others not to share the virus with you is to become isolated from them. If by chance you do get the virus you never have to stop working, making global gig providers not only one of the most immune fields, but perhaps the major beneficiary of the Covid-19 Virus.
Since their incomes depend on the platforms, freelance gig sellers would achieve far greater benefit by migrating to a discounted or low-cost solution. As the cost goes down, those benefiting first from the gig platform leading the lower priced revolution often grow exponentially faster; the early adopters enjoy the greatest benefit. It was the same for the low cost discount broker when they started gaining market share. Eventually, they helped to significantly expanded the entire investment market, greatly increasing the total number of participants.
The problem with the large gig platforms today is that they spend almost 50% of their revenues on advertising. That’s the reason why they have to charge so much. With the very high cost to support their very aggressive advertising, their financial models can and will stop growing once people realize the total cost to the participants.
Judging by the history of discount websites, as the sellers start migrating to the discount market, the number of participants searching for value expands the market– often by many times. We are already seeing this in the numbers at FGG Low Cost Marketplace, knowing they are one of the best platforms to promoter sellers– they are seeing buyers growing at a 66% faster rate than sellers.
Of course no one wants to overpay for a service or a gig, but the question is, “as the costs come down (such as with the FGG Low Cost Marketplace platform), does the volume of buyers expand at a far higher rate?” Look at the histories of companies such as bulk buyer Costco or investment discounter Charles Schwab and their effects on the entire market. The history of those companies should help you to form your own answer.