Business growth is one of the most important objectives for an independent contractor or freelancer. A strategic way to ensure that you are on the right path is to benchmark your progress with others in your industry. Benchmarking gives a comprehensive view of where you stand and helps identify areas of strength and weakness, as well as discover new trends and the best performance and pay in the industry. This is valuable information that every entrepreneur should have to map out a strategy for their future growth.
The new marketplace intelligence feature from Field Nation empowers service providers to compare and learn from others in the industry. Providers using the new work order interface can now take advantage of useful details about their own work history coupled with market insights to make better informed decisions. This information is available in the form of two hovers that offer details on the “Type of Work” and “Company.”
Type of Work Hover:
The informational hover (“i”) displayed adjacent to the “Type of Work” on a work order includes analytics derived from work that has been completed by various providers on Field Nation for a specific category of work and compares it with a provider’s own work history.
This marketplace information is calculated for work done in a radius of 50 miles of a major city and encompasses data for the previous 90 days, including a span of available marketplace rates (low, median and high values).
The hover displays the number of jobs that have been conducted by a provider for a specific type of work, the average pay received, and the average duration that it took for assignments or work orders to be completed. Access to this information enables a provider to determine whether they are above or below the average rate and offers the opportunity for performance improvement as well.
The information hover that activates by clicking on the (“i”) icon beside a company name tells providers how many jobs they have completed for a particular buyer with details on active and cancelled jobs, accepted counter offers, and average assignment duration. This information is also supplemented with the total amount earned and expenses paid by the service buyer. This knowledge can aid a provider to evaluate their business relationships and assist in pursuing work with preferred buyers.
People often compare notes with work colleagues to learn from their experience. The new marketplace intelligence feature makes these insights available with just the click of a button. We hope this analytical data will help you get more work done. Please share your feedback about our new product features by sending us an email at firstname.lastname@example.org.