Fiverr – How to Profit from Your Services Solutions
A lot of people still have the idea that everything on Fiverr.com is only five bucks. But, the truth is that is only the base price. It is true, when Fiverr first started everything was only five bucks, then they started testing with some prolific sellers with ways to make gigs better with upselling and gig add-ons. This benefited sellers, buyers and Fiverr. Sellers, due to being able to make more money, buyers due to having more choices and Fiverr, due to the additional revenue it brought to the company.
Some service providers are turned off by the very idea of Fiverr. They think that they won’t make enough money, or that people who will hire them via Fiverr, are undervaluing their services. However, if you plan strategically, you can use Fiverr to build an amazingly profitable service based business. It starts with building your product funnel, starting with a basic five dollar offer and then culminates with adding on valuable extras to make your gig even better and more profitable.
All Fiverr gigs start with the “Regular Gig” which has a base price of Five Dollars. In order to make the right type of base gig, ensure it’s something your audience needs and wants and that you can do it quickly, in no more than five to 10 minutes and that you can do multiples of the offer in an hour without a problem.
When you first heard about Fiverr you may have felt offended. But, in reality you should be excited. People are earning a lot of money on Fiverr. You can check for yourself to see how much people are earning by simply looking at some of the High Rating and top selling gigs. The minimum amount that someone is making is 4 dollars per gig, but if they have add-ons they are likely making much more. So anything you figure out is likely just a guess, but some people are making as much as $10,000 a week with the right Fiverr gig.
Between normal gigs, gig extras and custom offers you can boost your income above that 4 dollars per gig. For example, if you offer business writing, you can offer 100 – 200 words per 5 bucks (of which Fiverr takes a buck) within 14 days with zero edits for the regular gig, then you can add gig extras of 24 hour turn around for an additional price, a Getty Image for an additional 10 dollars of which you will earn about 25 percent, and so forth. Everything you offer as an add-on will give you an opportunity to earn more.
So let’s say someone orders a 600 word article from you at 5 dollars per 200 words – that would be 15 dollars. Then they add on 72 hour delivery for 5 bucks, now you’re up to 20 dollars. Offer a proper Tweetable quote to the article for another 5 bucks and now we’re at 25 dollars. If you can do ten 600 word articles a day, you’ll earn $250 a day before Fiverr charges of about 50 bucks, which brings you to 200 dollars a day. If you work five days a week you’ll earn about 1000 dollars a week from home working via Fiverr.
You can make more or less depending on the type of gig you are offering. There are people making a lot of money on Fiverr and people who aren’t making anything. It all depends on how you present your gigs, the extras you offer and how well you target your audience. As you become higher rated you will notice that other features are added that help you make more of your business, too.
How to Make Your Gig Better & More Profitable
Once you build your basic Fiverr gig, then you can add on value for your customer using the features available to you as a Fiverr seller. There are some standard choices when it comes to making your gig better.
Extra Fast Delivery – Your base gig can be set as late as 29 days delivery, use this feature to make more money by offering super-fast delivery at a higher price. This is a really great way to boost the price of your base gig.
Additional Revisions – You can offer revisions for an extra fee. Since the base gig price is so low, you can set that at zero revisions and then offer as many revisions at any price that you want to. This will enable you to earn a fair price for your gig without having to spend too much time on the regular gig.
Special Offers – Fiverr has a deal with Getty Images which allows the seller to add a licensed stock image for 10 dollars, and gives the seller access to the Getty Images library. As a Fiverr seller you’ll end up making about 25 percent of that. What’s great about that is that you don’t have to come out of pocket for the cost of the image.
Add Gig Extras – You can add up to two extra gigs within a gig. For example, say you offer video spokesperson gigs, you can add a gig within to write the script for the video instead of requiring that they give you the script, or offer various backgrounds, clothing options and so forth.
Custom Offer – With this feature you can make a custom offer to any potential buyers who reach out to you first. You can’t go around to different profiles and make offers, but if a potential customer contacts you, then you can create a custom offer just for them, including the deliverables and price, which in this case is not limited at all.
Package Pricing – Fiverr is slowly rolling out the possibility of offering package pricing for certain types of services. This is a great way to boost your sales, get repeat buyers, and up the sales price of each order.
Some other possibilities to increase your profits lie in other features that are available for you as a Fiverr seller. They are all equally important ways for you to make more money, get higher ratings, and make Fiverr work for you.
Buyer Requests – You can answer buyer requests that appear within the subject matter that you have open gig offers in. For example, if you offer voice overs, and a buyer is looking for someone to do a type of voice overs that they could not find gigs for, you can answer the buyer request with a gig you have, adding extras as needed to make the gig offer what the buyer needs.
Keep In Touch — You may not realize it, but the Fiverr system also keeps track of everyone who has ever bought from you. You can keep in touch with them and initiate a conversation with them at any time by going to “My Contacts” and then “My Buyers”. Click the cloud to start a conversation.
Vacation Settings – While this is not a way to make extra money it’s a way to keep from being ejected from Fiverr for not completing gigs on time. It’s very important to remember this setting so that you can simply be gone for vacation without any concerns or having to pause each gig individually.
Fiverr is always improving their system by adding new features to make it easier for Fiverr sellers to make more money. Make sure you check back often to find out what new features are available to you. The best way to do that is to create new gigs often.