Blog > Upwork Slashes 20% Fee for Freelancers & Agencies

Upwork Slashes 20% Fee for Freelancers & Agencies

Dmytro Poberezhnyi β€’ 2023-09-18

Sounds too good to be true, right?

However, keep in mind that this isn't just about fee reduction β€” it's about a fundamental change in Upwork's business model.

Well, buckle up! Our weekly newsletter covers Upwork fee system overhauls, tips for tailoring your Upwork proposals, and forced embracing the new-digital era of B2B lead generation!

Ready to seize the news? Let's dive in!

πŸ“‘ GigNews

πŸ‘€ What Will the Lead See First?

Did you know that while scrolling through the list of proposals, the Upwork lead only sees the first three sentences of your cover letter? To maximise your impact, make those sentences count! Be accurate and attractive – your cover letter is your chance to stand out from the competition.

The Takeaway:

Skip formal and unnecessary openings in your cover letter; it's not the place for traditional business communication. Be bold and captivating from the start.

🎁 Upwork Freelancer Plus Membership: Grab the New Perks

Upwork has added six new perks to the Freelancer Plus Membership ($14.99/month) for those who subscribe between March 15 and March 31. Key features include 0% service fees when bringing new clients to Upwork and immediate access to Upwork Skills Certification.

The Takeaway:

This offer is particularly useful for those who solely use a freelancer profile. While it may not bring anything new for existing users, it's worth a try for newcomers, as it provides an opportunity to explore Upwork more thoroughly.

🚨 Upwork's New Fee Structure: Say Goodbye to 20% Fees

Upwork is introducing a simplified 10% fee rate for all freelancers and agencies, starting May 3, 2023. The new flat rate will likely increase competition within the marketplace, making it more crucial than ever to leverage your lead generation effectively.

The Takeaway:

This change was somewhat expected from Upwork. On one hand, it lowers the barriers to entry for newcomers, but on the other hand, those working with $10k+ contracts might be affected, potentially leading to slight price increases.

πŸ—žοΈ LeadGenNews

πŸ€– GPT-4 Unleashed: A New AI Frontier

OpenAI has launched GPT-4, a large multimodal model that accepts image and text inputs and emits text outputs. This powerful AI exhibits human-level performance on various professional and academic benchmarks.

🌐 Digital Transformation: B2B Sales Culture Shift

Harvard Business Review highlights the need for B2B sales organizations to adapt their culture, embrace collaboration, harness data-driven decision-making, and invest in employee skill development for a successful digital transformation.

🎯 Inside Upwork's Business Model

Business Model Analyst's recent article offers insights into Upwork's value proposition, fee structure, and competitive advantages in the gig economy, helping you better understand how the platform operates.

The Takeway:

Stay informed and adapt to the ever-evolving world of lead generation. Embrace new technologies and implement digital transformations to stay ahead of the competition. Understanding platforms like Upwork can help you better navigate the gig economy and maximize your opportunities.

Leverage tools like GigRadar, which streamlines lead generation on Upwork and provides advanced analytics, to give you an edge in this rapidly changing landscape.

⭐️ Bonus

A Chart of Countries with Upwork Clients Spending $1M+

Chart illustrates the percentage distribution of clients on Upwork who crossed the $1m total spent threshold within 24 months across the top 10 countries.

Full-resolution images on our Telegram channel.

Don't Miss Out on the Latest Upwork Lead Generation News!

Stay ahead of the game with our regular updates on everything related to Upwork lead generation. By staying informed, you'll be able to leverage our expert insights and tips to maximize your success on Upwork.

Join our growing community today! πŸš€

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