five It is a market for professional services.
The name stems from the original concept of the service: the idea that you could buy services for as little as $5. As the market has developed, and more sophisticated providers have been attracted to it, higher-priced services are now common.
If you are looking to make extra money, or even create what has been called a “Fiverr Business”, you need to understand how the system works.
There are a number of “tricks” that most people probably don’t know about.
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initial pointers
- The Fiverr marketplace is HUGE and varied – The underlying idea that it’s only for cheapskates is often wrong. If you have a great product/service/skill, you’ll find that many sellers can fetch prices over $350 even for fairly obscure deals.
- People want to know who YOU are – The biggest problem I’ve seen consistently is that the best people just share their experience, they don’t try to wrap it up in anything fancy; they use their real name and are honest.
- You need to *adapt* your supply to match demand – This is the biggest mistake most companies make; Instead of telling people what you do, you should explain it to them in a way that shows how it’s going to work. benefit them.
Everyone will obviously have their own experiences with the platform; The following is based on mine…
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Fiverr Marketplace
The biggest thing that most people don’t really “get” is the scale of the Fiverr marketplace – it’s huge.
It is estimated that in 2015 alone, 8,000,000 sales were made on the platform, a concert purchased every 5 seconds.
The point is that THE MAJORITY people hold back by convincing themselves that the “market” is not that big, or is full of people from developing countries (able to work for a fraction of a Western person).
While there might be some merit to these ideas, the simple fact is that the majority of buyers on the platform are Westerners (although this is not exclusive) and so if you can offer a quality service, there is definitely a vacancy.
I’ve found that if you can offer GOOD service at relatively competitive prices, you will usually attract a large number of buyers.
The key determinant of success is being able to craft supply on demand. I’ll explain this in a second, but along with that, you also need the belief that the Fiverr platform is generous enough to support ANY service.
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people want to know who you are
Aside from an in-demand offer, I’ve found that the most popular “gigs” are created by people with a particular talent/ability.
They are usually very personal with their offer (using your face as their profile picture, etc.) and will describe their experience in the most practical way possible.
The reason this is important is because if you’re looking to offer a service on the platform, it’s much more effective to use “yourself” as a product.
In the “business” world, we are led to believe that people want as cheap a product as possible, provided by faceless corporate companies that provide conformity and rigidity.
While this is true for many people, in the world of “online” services, it’s actually more profitable to offer YOUR service. Instead of hiding behind a fake avatar or username, you can now
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Tailor your offer
Finally, this is the most important idea that I have come across with the system.
Tea BIG The mistake most people make is thinking that if they are good at [insert skill here]people will automatically attribute it to some underlying benefit to their business.
Unfortunately, most people aren’t very smart and you really have to explain as your service could benefit them, in the most lucid way possible.
In marketing/sales, this is called the “offer”: how you match a “product” to what a market really wants.
In the case of Fiverr gigs, most people will list things like “Portrait Photographer,” “Fitness Trainer,” or “Web Designer.”
While these work, they won’t work either. You need to provide a reason why should anyone see what your service is capable of.
Usually this means adopting a “juxtaposition” / “niche”, where you will become highly competent with one market and ignore the rest.
For example…
- “Amazon Product Photographer to Boost Sales”
- “Increase business traffic with a unique professional WordPress theme design”
- “Elite Fitness Training to Eliminate Belly Fat in 3 Weeks.”
I cannot stress enough the importance of this.
Most people will list that they are “content writers” but claim that they don’t have an actual skill set/experience that provides value to the person buying their service.
You must be willing and able to “tailor” your supply to match demand.
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My story with Fiverr
To explain why the above is important, I started selling services on Fiverr through my friend.
He has experience with software, IT support, network engineering, financial trading, and Bitcoin.
While he listed his name/information adequately, his first “gig” was for “Forex” articles. While she did get a few requests for these, the real the money came from “Crypto” items.
Crypto articles have been done a million times on Fiverr, so let’s not create anything crazy. but what we made to do was give users the ability to perceive *exactly* why my friend would be the best fit for them as a writer.
Not only did he have real-world experience in the tech world, but more importantly, he’s been talking to a London “consortium” for a number of years.
In the world of finance, a “consortium” is basically a group of people/companies/banks working together with a common interest. No matter what it is, everyone has their own agenda.
My friend’s consortium focused on forex trading… but more importantly, one of the group members had been dabbling with BTC. Dabbling, it turns out, he became a legitimate Bitcoin millionaire in December 2017.
With this in mind, we redesigned my friend’s profile to reflect this unique experience and knowledge for the Fiverr audience, and started receiving a large influx of orders.
We made $500 in the first week and about $1,500 in the first month.
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In my own world, I have set up 2 Fiverr profiles.
While both profiles received responses, one of them started to take off pretty well.
This was an IT support profile, with which I had a HUGE level of experience; not only is it my profession, but you can also argue that it is a “passion”.
The main problem with this profile was that he actually knew enough about the market to be very specific in what was offered.
Instead of posting “I’ll fix your computer for money”, I actually worked to provide particular fixes for different software packages they might have used.
For example…
- I will fix WordPress plugin, theme, page, post, newsletter, WooCommerce errors with code
- I will improve Shopify conversion rates with theme, page, newsletter and CRM code fixes
- I will provision cloud VPS servers in Azure, AWS, Rackspace, DigitalOcean and more
After doing this, I started further developing the site I had created for the thing and made sure I could put my name, face, and story on there.
Pretty soon, people started showing up with questions for our service. “Can you fix this with WordPress?”, “How do I add a logo in Shopify?”, “My Shopify site won’t convert, any tips?”.
I made sure to go above and beyond in terms of answering any queries, and also that all the fixes we provided were done on time and with “added extras”.
The “additional extras” we included were full “breakdowns” of improvements the client could make to their infrastructure, whether it be to save money or increase traffic, conversions, or back-end processes.
As word spread about the improvements we made, we began to systematize much of our processes; incorporating the likes of Trustpilot and other tools.
The net result was that we were able to give users the ability to receive relevant support, and we had a reason to keep them updated with more information, etc.
$2,500 came in the first month and continued to grow.
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