What is Fiverr?

Fiverr is a site that helps freelancers and buyers work together on projects. In the Fiverr gig economy, a buyer has three options for a supplier to work on their project:

1. Create a buyer request detailing the project

2. Choose a provider they used previously

3. Browse among the users of the niche where they hope to find someone who can undertake their project

How do vendors make money on Fiverr?

It’s a bit of a catch-22 situation for sellers on Fiverr. When you start your journey on Fiverr, it’s unlikely that many people will apply to work with you because they don’t know you and you don’t have reviews for them to verify your work.

There are two ways to fix this problem. One is dubious but has been used, though if discovered your account will likely be deleted. That’s asking friends and family to buy a gig and give you great referrals. Fortunately, most buyers are smart enough to figure that out.

The best way, at least initially, is to browse Buyer Requests to find work that you can make an offer on. This is an opportunity to explain how you can do the job for the buyer better than someone else. Also, at the beginning of your supplier journey, it’s important to be reasonably cheap so that buyers are more willing to give you a try. After all, risking $5 or maybe $10 to get something that could be fabulous is nothing, right?

How to get more money

Obviously you need to get more gigs. However, before that, you have to deliver the gigs that you get really well. That means they should be really great. It doesn’t matter if your client pays you $5 or $50, the work you do must be excellent. That way you’re more likely to get a review (you don’t always get a review, but don’t worry, you’ll get one).

As your reviews accumulate, more people will see them, see that you do a good job, and offer you work, without having to get work from buyer requests.

Raising the price of your concert.

Eventually, you will find that you have a lot of people asking you to do concerts. You will have a good number on your waiting list. That means people can see that you’re a bargain and want to grab you while you’re still cheap.

Now is the time to adjust your gig and slightly increase your gig fees. If the number of orders stays about the same, you’ll earn more money on each order. Raise your gig fee too much, however, and your sales will bottom out.

The way to know if the gig fee you want to charge is “correct” is to ask your current customers 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.

So good luck and enjoy the gig economy.