Filancepedia: The ABC’s Metrics for the future of work
At Filance AI, leverage artificial intelligence for actionable insights. Empowering freelancers, gig workers, and creators with growth-focused metrics for financial fitness.
At Filance, we are committed to transforming platform metrics into actionable insights using AI to help the future of work protagonists expand their potential, earn more, improve their credit scores and access better financial tools. Our reports and AI-powered tools enhance growth measurement and enable you to achieve financial fitness. Whether you’re a freelancer, gig worker, creator, or simply navigating this landscape, understanding these metrics empowers you to make better choices and set yourself up for success.
Getting Started
Creator:
Someone who produces and shares original content online, often leveraging social media and digital platforms to reach and engage audiences, monetize their work, and build a personal brand.
Freelancer:
Someone who offers their services on a project or contract basis, often working independently and across various industries, leveraging digital platforms to find clients and manage their work while maintaining flexibility and autonomy.
Gig Worker:
Someone who undertakes flexible jobs or tasks, often through digital platforms or apps, providing services on demand and typically working independently without long-term employment commitment. Examples of digital platforms: Uber, Lyft, doordash.
Creators’ metrics
Now that we have a better understanding of the creator's role, let's embark together on exploring their metrics. Discover how to leverage Filance AI reports and AI features to take control of your growth, track progress, and enhance your income potential.
Metrics related to the audience empower creators to discover their target audience and effectively communicate the right message to them in order to monetize their content more efficiently. By personalizing their content to align with audience preferences, interests, shared values, and experiences, creators establish a genuine connection that can transform viewers into followers and followers into a loyal community. This increased engagement not only fosters a stronger bond but also maximizes monetization opportunities. Creators can attract sponsors, negotiate partnerships, and develop products and services beyond social media's payout, leveraging the loyalty and trust of their dedicated community.
Check out the audience metrics you'll find on Filance AI and some use cases:
Followers: Represents the number of individuals who have chosen to follow or subscribe to your social media accounts.
Demographics: Provides insights into your audience's characteristics, including gender, age, and nationality.
Track your social media growth across all platforms with weekly reports on Filance AI. Identify which platforms are gaining you more followers through specific platform reports and their unique insights, aided by AI.
Engagement:
While audience metrics provide valuable demographic insights which enhance content creation, engagement metrics offer real-time feedback on how well your content is resonating with your audience, if they are converting them into followers and consumers.
By analyzing metrics such as views, likes, comments, shares, mentions, and watch time. Additionally, metrics like organic reach, organic impressions, and hashtags indicate the reach of content without paid promotion, offering insights into its virality potential and effectiveness in increasing engagement and follower growth.
Ultimately, leveraging these metrics not only enhances content performance but also increases the likelihood of achieving monetization goals and financial success.
With Filance, you can say goodbye to spreadsheets and complex math when calculating your engagement rate. But before delving into how our weekly reports and AI insights can enhance your content's stickiness, discover the array of engagement metrics you'll gain access to:
Total Likes: The total number of likes received on your content across all your social media platforms during a specific period of time.
Total Comments: The total number of comments received on your content across all your social media platforms during a specific period of time.
Total Views: The total number of views your content has received across all your social media platforms during the period.
Watch Time: The total amount of time (in hours) your content has been watched during a specific period.
Total Shares: The total number of shares your content has received during a specific period.
Organic Impressions: The number of times your content has been seen by users on social media through organic (non-paid) means.
Organic Reach: The number of unique users who have seen your content through organic (non-paid) means.
CTR (Click Through Rate): The percentage of users who click on a link or call-to-action in your content.
Hashtags: The number of times your content has been tagged with specific hashtags.
Mentions: The number of times your content has been mentioned or tagged by other users.
Monetization Metrics
All metrics presented until now impact your content creator’s revenue potential directly, which can be generated through advertisements, sponsorships, subscriptions, or product sales.
However, metrics like CPM and CPC provide insights into effectiveness of advertising campaigns and the return on investment for advertisers. By understanding and optimizing these metrics, you can demonstrate the value of their content to negotiate better deals and maximize your revenue opportunities.
CPC (Cost Per Click): The amount advertisers pay each time a user clicks on their ad.
CPM (Cost Per Mille): The revenue earned per 1000 ad impressions on your content.
On Filance AIyou pull all info together, expand your potential by centralizing all your metrics in one place and leave the heavy lifting to us.
Freelancer’s Metrics
Being a freelancer has many benefits, such as schedule and geographical flexibility, the ability to work with your passion, freedom from a daily office routine, and, of course, the potential to expand your income. However, during this independent journey, many challenges can arise.
This is why Filance AIworks to enhance your understanding of key metrics with our weekly reports and AI features, helping you overcome any financial obstacles. Check below the main metrics every freelancer should be aware of:
Annual income: represents the amount of money you earn from freelancing in a year.
Hourly rate: represents the effective hourly rate calculated by dividing the total fee you charged by the number of hours worked.
Pitch Acceptance Ratio: represents the percentage of proposals or pitches you did that were accepted by clients.
Client Turnover: represents the rate at which clients had left you and were replaced for new ones.
Billable hours: the number of hours that you can invoice to clients.
Utilization rate: related to billable hours this one represents the percentage of your working hours that are billable.
Client Acquisition Cost (CAC): the total cost of acquiring a new client, including marketing, advertising and the time you spend pitching.
Client Lifetime Value (CLV): this metric represents the total revenue expected from a client over the course of your business relationship.
Project Completion Rate: represents the percentage of projects you have completed on time and within budget.
Expense tracking: this one represents the process of recording and monitoring your related business expenses.
Spend less time on spreadsheets calculating project metrics. Join Filance AI and consolidate all your freelancing metrics in one place. Utilize our weekly reports to track your progress and growth, giving you more time to take on new projects or simply enjoy your freelancing flexibility.
Gig Worker Metrics
Often confused with freelancers, gig workers enjoy similar benefits but have a different work dynamic. Freelancers can set their own prices and choose clients, while gig workers get work through digital platforms with less control over pricing and clients. Rejecting tasks can harm their reputation and income.
Filance AI reports and AI insights provide the guidance needed to choose the right opportunities, expanding your earnings potential. Let's dive into the key metrics to achieve your goals:
Total Earnings: Represents the total amount of money received across all your platforms during a specific period.
Total Trips/Orders: The number of trips or orders you completed across all your platforms during a specific period.
Acceptance Rate: Refers to the percentage of trips/orders you accepted compared to those offered during a specific period.
Rating: Represents the average feedback score received from clients during a specific period.
Earnings per Hour: The average amount of money earned per hour across all your platforms during a specific period.
Earnings per Day: The average amount of money earned per day across all your platforms during a specific period.
Earnings per Mile: Represents the average amount of money earned per mile during a specific period.
Say goodbye to trips or orders that don’t align with your financial goals. With Filance AI, you can compare your metrics across platforms to find the most profitable ones, track your progress week by week, and benchmark your performance against market standards.
Identify your pain points by discovering your real metrics and receive personalized AI insights to address them. Improve your gig performance and maximize your earnings.
Other Filance AI Terms
After delving into the metrics that impact the success and financial health of creators, freelancers, and gig workers, let’s explore other terminology that underscores Filance AI’s mission and value proposition. These terms not only reinforce our commitment but also highlight how they impact our team and users' daily routines.
Future of work: is characterized by the growth of independent work and self-employment. By embracing the self-employed concept and embracing the future of work, individuals can unlock new avenues for growth, creativity, and fulfillment in their careers, empowering them to shape their own professional destinies and thrive in the digital age. For creators, gig workers, and freelancers, it allows them to harness emerging trends, leverage technological advancements, and adapt to changing market dynamics, ultimately enhancing their success and financial well-being.
Gig economy: is characterized by the individuals, often referred to as gig workers or independent contractors, who earn income by completing tasks, projects, or "gigs" for various clients or companies. This model offers flexibility and autonomy but may also lack traditional employment benefits and stability. Examples of gig economy jobs include ride-sharing, food delivery, freelance writing, graphic design, and online tutoring.
Credit bureau: is an organization that collects and maintains financial information about individuals, including their credit history, borrowing behavior, repayment patterns, outstanding debts, and creditworthiness. This data is used to generate credit reports, which lenders and creditors rely on to assess the risk of lending money to an individual and to make decisions about extending credit.
Credit Score: is a numerical representation of an individual's creditworthiness, derived from information collected by credit bureaus. Typically ranging from 300 to 850, it reflects the likelihood of responsibly repaying debts based on factors such as payment history, credit utilization, length of credit history, types of accounts, and recent inquiries.
Unbanked profile: refers to individuals without access to traditional banking services, often due to factors like limited access, low income, or distrust of financial institutions. Without banking services, they struggle to establish a credit history, making it difficult to obtain credit products or favorable terms
No file” or “thin file”: refers to individuals with either no credit history or a limited credit history, making it difficult for lenders to evaluate their creditworthiness. "No file" indicates a complete absence of credit history, often seen in individuals new to credit, while "thin file" suggests limited credit activity, typically with few accounts or a short credit history duration
Stability Profiling: involves assessing an individual's financial stability and reliability based on various factors such as employment history, income stability, debt-to-income ratio, and payment history.
Filance AI Score: Our credit score, ranging from 300 to 850, measures stability profiling within the future of work landscape, encompassing creators, gig workers, and freelancers. By analyzing data from their work platforms, we track the stability of their income flow and assess their work history. This enables us to predict their future ability of repayment and establish their creditworthiness. This valuable information may then be used by banks, insurance providers, and other financial institutions, ensuring better credit opportunities for these individuals.