Fiverr is a web site that allows anyone with a product or service to advertise their wares for a starting price of $5, by creating what’s called a “gig.” More specifically, the base price cannot be more than $5 but additions called “gig extras,” can carry higher price tags. I remember when Fiverr first launched.
Shortly after their quick success, numerous copycats tried to duplicate their success. Many would-be entrepreneurs figured that people would get bored of only getting $5 for a gig and that other sites offering $10+ gigs were necessary. At any rate, Fiverr.com is still alive and well, and people are happy to offer their base price for $5, but of course, with the “gig extras,” many are getting more than that.
How to make money on Fiverr
The basics for making money on Fiverr, from one perspective, involves figuring out something to offer as a $5 gig, that has a higher value, perhaps valued at $25 in terms of time spent. Or, if it’s something that is highly unique offering a gig “on par” is appropriate as well.
For the former, offering a higher valued gig for $5, the next step is to create a couple gig extras, perhaps priced at $10 each. These extras should not create much extra work for the seller, perhaps a minute or two, but be no-brainer add-ons for the buyer. Therefore, with minimal risk, a seller can provide a service for $25 that is worth their time. The above approach, probably the most common on Fiverr, qualifies as “working online,” but does not necessarily take advantage of the leverage that could be achieved while working online.
1 Create a gig around “a system”
To really leverage the power of making money on Fiverr, someone could put a subscription service or online automated system to work for them. For example, if they’re in an automated system that carries a high monthly price tag that allows for unlimited use, that could be sold as a “gig” on Fiverr. If the preparation for using the service is minimal work, and the value-add is in the fact that people cannot afford the monthly fees, or do not need the service at that level, this could provide a way to share the subscription fee and perhaps make a profit. Someone I know in the make money online industry is doing this very thing. For every 25 orders he gets at $5 a piece he outsources the “prep” portion of the job for $15, resulting in a revenue of $110 (minus Fiverr fees).
2 Top Gigs for exposure and branding
Fiverr gigs can be looked at as advertising to build a brand. As an example, before “gig extras” were available, a rap artist was putting together quick rap videos to help people with their marketing. Perhaps the $5 wasn’t worth all the effort but it did allow the rapper to gain a name for himself and soon people started looking for him on Google and YouTube and he ended up with a popular YouTube channel and the ability to offer higher priced songs.
For this to work effectively he simply had to make sure his Fiverr username matched his YouTube username. Also, including the word Fiverr in his YouTube channel profile helped searchers locate his work much easier from the search engines.
3 Fiverr Gig promotion
The URL of the profile created on Fiverr can land in search engines, so adding in some keywords related to the gigs is valuable. In addition, writing and submitting a Press Release to announce any new gigs is a smart idea. If the Press Release is cleverly anchored to current affairs many journalists and news writers will pick up the release and run with it, really spreading the word to help promote the Fiverr profile and gigs.
Come up with controversial stories that would work well in Reddit and Digg as well that could drive traffic to your gigs. Additionally, promoting the gigs in social circles like Facebook, Linked In, Twitter, and the rest, can help drive leads and sales for the Fiverr gigs, with viral potential when done right.
4 Keys to making the customer happy
Fiverr is a site, like eBay, where feedback matters. Upon combing through hundreds of comments I got a good understanding of what makes Fiverr buyers happy. Most of the following are a given but I will include them anyway.
- First thing is to respond to the customer immediately after they purchase the gig to thank them for their purchase, and to let them know you are on it.
- Make certain that you have all the details and if there is any confusion, communicate with the buyer to make sure everything is clear, especially for more complicated gigs.
- Deliver exactly as promised, add some extra, and deliver early.
- If it is a long gig, stay in communication with the buyer by providing feedback of the process and each milestone.
After successful delivery, wait for feedback. Ask if there is anything more that you can do if the feedback isn’t received in a realistic time frame. Respond to the feedback, and be sure to take into account any criticism to improve the gig offered. It’s not wise to argue in the comments, but if you know you are right and the customer is being unrealistic, list the things that you have done for them and ask what more you could do.
Keep the conversation within the comments until the buyer shoots themself in the foot (assuming they are wrong). After positive feedback, send a message letting them know about your other gigs and any BOGO discounts that you are offering.
5 Selling physical goods on Fiverr
While some physical product offerings may have a home on Fiverr, the margins may be too low to be realistic for anything other than non-shippable items. Custom crafts can do well online, but Pinterest might be a better aveneue for that, having popped off many a custom craft career in the past.
Naturally, offering gigs related to something that you love and could see yourself really doing day in and day out will keep you motivated when orders flow in. Include a solid headline for each gig. Also, the first sentence for the gig should contain the most important bits. Use videos and samples, and when possible, testimonials, in your gig advertisements.
Over-delivering, asking for feedback, responding to feedback, cross-promoting gigs, offering discounts for multiple purchases, creating smart up-sells (i.e. gig extras), and keeping tabs on the “requested gigs” section, are all little things that can pay off huge in the long, or even the short, term.