What is Fiverr?
Fiverr is a site that helps freelancers and buyers to work on projects together. In Fiverr’s gig economy a buyer has three choices for getting a supplier to work on their project:
- Create a Buyer Request detailing the project
- Choose a supplier they used previously
- Browse through the users in the niche where they expect to find someone who can undertake their project
How do suppliers make money on Fiverr?
It’s a bit of a Catch-22 situation for sellers on Fiverr. When you begin your journey on Fiverr you’re unlikely to get many people asking to work with you because they don’t know you and you have no reviews for them to check your work.
There are two ways around this issue. One is shady but has been used, although if found out would probably get your account deleted. That is to ask friends and relatives to buy a gig and give you fabulous references. Fortunately, most buyers are savvy enough to see through that.
The best way, at least initially, is to browse Buyer Requests to find work that you can place a bid against. This is an opportunity to explain how you can do the work for the buyer better than someone else. Also, at the start of your supplier journey it’s important to be reasonably cheap so that buyers are more willing to give you a chance. After all $5 or maybe $10 risked to get something that could be fabulous is really nothing, is it?
How to get more money
Obviously you need to get more gigs. However, before that you need to deliver the gigs you do get really well. That means they should be truly excellent. It doesn’t matter whether your client is paying you $5 or $50 the work you put out should be great. That way you’re more likely to get a review (you don’t always get a review but don’t worry you’ll get some).
As your reviews build up more people will see them, see you do a good job and offer you work, without you having to get work from Buyer Requests.
Putting up your gig price.
Eventually, you’ll find that you’ve got a lot of people asking you to do gigs. You’ll have quite a number in your waiting list. That means that people can see you’re a bargain and want to grab you while you’re still inexpensive.
Now’s the time to tune your gig and increase your gig fees slightly. If the number of orders remains roughly the same you’re going to make more money on every order. However, put your gig fee up too much and your sales will hit rock bottom.
The way to tell whether the gig fee you want to charge is “right” is to ask your current clients and also check your competitors. If you get good feedback from your customers and your competitors also seem to charge what you do, or more, you’re in the right place.