Thinking About Trying LinkedIn ProFinder? Check Out These Findings
When LinkedIn ProFinder went nationwide last
year, many solo professionals were curious if the matchmaking service
between freelancers and clients would help them grow their businesses.
The service allows companies and individuals to post requests for
proposals on projects and send them to professionals who have signed up
for the ProFinder network of freelancers.
The network, which initially launched on a more limited regional basis, is now being used by 70,000 freelance professionals across the country, according to LinkedIn’s data. Some of them may be benefiting from using the service, according to a new survey by LinkedIn. The findings may interest you if you've been considering signing up.
One hot growth area for LinkedIn ProFinder members is career coaching. LinkedIn reported 16 times more requests on the network for career coaches than the same time last year. Across all types of freelance services offered, requests for proposals grew five-fold since the service went nationwide, LinkedIn reported.
So who is buying services using LinkedIn ProFinder? LinkedIn says a large proportion of requests for proposals in its business categories — marketing and branding, design and software — come from small business owners.
In 80% of these cases, customers are small businesses, the survey found. LinkedIn reported that small business CEOs, presidents, founders, vice presidents and directors make 40-50% of purchases. Another 20% of purchases are made by senior marketing managers, and 10% are made by sales professionals.
What's not clear is how much work freelancers are actually getting
through LinkedIn ProFinder and how much income that translates to. It’s
possible to bid on proposals and not win them, so a surge in requests
for proposals does not necessarily mean freelancers are making money
through the service. They get to try the service for free but eventually
have to convert to a paid membership to keep responding to RFPs.
The survey of more than 1,000 LinkedIn ProFinder members found that nearly 20% of freelancers confirmed they will make a six-figure income this year. However, the survey did not say how much of their income comes from LinkedIn ProFinder. Many freelancers find work through multiple channels, such as word of mouth, profiles on freelance marketplaces, and their own websites or social media sites, so it is possible most of the income comes from other sources.
Many respondents do seem to feel secure in their choice of work, which could be an indicator they are thriving in their businesses. Eighty percent said they had no fear of being replaced by artificial intelligence, automation or technology in the next 10 to 20 years. And more than half said they will never return to more traditional full-time employment.
Interestingly, many freelancers in the survey are career changers. The survey found that 25% are working in a different professional field than their former full-time career—and 13% got special training to pursue this new path.
The network, which initially launched on a more limited regional basis, is now being used by 70,000 freelance professionals across the country, according to LinkedIn’s data. Some of them may be benefiting from using the service, according to a new survey by LinkedIn. The findings may interest you if you've been considering signing up.
One hot growth area for LinkedIn ProFinder members is career coaching. LinkedIn reported 16 times more requests on the network for career coaches than the same time last year. Across all types of freelance services offered, requests for proposals grew five-fold since the service went nationwide, LinkedIn reported.
So who is buying services using LinkedIn ProFinder? LinkedIn says a large proportion of requests for proposals in its business categories — marketing and branding, design and software — come from small business owners.
In 80% of these cases, customers are small businesses, the survey found. LinkedIn reported that small business CEOs, presidents, founders, vice presidents and directors make 40-50% of purchases. Another 20% of purchases are made by senior marketing managers, and 10% are made by sales professionals.
LinkedIn Co-Founder
and Greylock Partner Reid Hoffman has extended the social networking
platform into matchmaking between freelancer and clients via LinkedIn
ProFinder, which went national last year. (Photo by Kelly Sullivan/Getty
Images for LinkedIn)
The survey of more than 1,000 LinkedIn ProFinder members found that nearly 20% of freelancers confirmed they will make a six-figure income this year. However, the survey did not say how much of their income comes from LinkedIn ProFinder. Many freelancers find work through multiple channels, such as word of mouth, profiles on freelance marketplaces, and their own websites or social media sites, so it is possible most of the income comes from other sources.
Many respondents do seem to feel secure in their choice of work, which could be an indicator they are thriving in their businesses. Eighty percent said they had no fear of being replaced by artificial intelligence, automation or technology in the next 10 to 20 years. And more than half said they will never return to more traditional full-time employment.
Interestingly, many freelancers in the survey are career changers. The survey found that 25% are working in a different professional field than their former full-time career—and 13% got special training to pursue this new path.
Elaine Pofeldt is author of The Million-Dollar, One Person Business (Random House, January 2, 2018), a book looking at how to break $1M in revenue in a business staffed only by the owners.
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