by: vicque fassinger
What is Fiverr?
Fiverr is a virtual marketplace for buyers and sellers of freelance artistic, voiceover, animation, and digital services. During a night in 2009 of throwing back a few cold ones and brainstorming with entrepreneurial-spirited friends, Fiverr was conceived. Once the idea rolled from Shai Wininger’s tongue during the think tank’s discussion, he and Micha Kaufman could think of little else. Eight months later, the two launched the Fiverr platform.
A Strategy to Success on Fiverr
If you’re looking to earn a living at this $5-per-gig marketplace, don’t be misled by the company’s name. Fiverr is one of the world’s leading virtual gig-centric marketplaces for creatives to sell customized services and earn $100K+ annually. While $5 may be what you accept for your first gig, your income will increase exponentially as your portfolio grows. Here’s an effective strategy to follow if you want to earn over $100,000 on the Fiverr platform within 12 months.
Strategic Step One: What do you do?
First and foremost, figure out what your particular creative talent is that you want to promote and market on Fiverr. Are you a graphic designer? Can you design visually-appealing ads? Do voiceovers? Write product descriptions? Do you have a knack for writing catchy slogans and creating logos? Are you great at doing explainer videos? Whatever your particular gift is, present yourself as the Subject Matter Expert (SME) of that particular product or service.
A What-not-to-do Tip: Don’t share with your readers that you have only designed two logos in your entire professional career. You can still be amazingly talented though you may have never gotten paid for your work (yet). No one knows what you’ve done or not done except you. Present yourself as the professional and expert that you know you are.
Strategic Step Two: Be fervent, yet patient.
No matter how talented you are, don’t plan on earning $500 on your first gig with Fiverr. You’re going to need to build up your portfolio and reputation on the platform to transform a $5-per-gig into a $500-per-gig. As trite as it may seem, slow and steady does (really) win the race. Focus on providing exceptional, world-class service to each and every customer. As your rave reviews and 5-star ratings increase, you will naturally attract more and more potential customers to you.
A What-not-to-do Tip: Don’t give up even if you’ve only earned $30 the first week. Be steadfast in your pursuit of gigs that interest you and that won’t be overwhelmingly time consuming (unless they pay top dollar).
Strategic Step Three: Repeat Customers Matter the Most
If a buyer on Fiverr purchased your services, chances are that same individual is probably a regular shopper on Fiverr. Your overarching goal is to retain the loyalty of that client and have him/her always come back to you for all their current and future creative needs.
A What-not-to-do Tip: Don’t lose contact with an established client. Even if you just earned $4.00 (a buck goes to Fiverr) for a project, maintain that business relationship.
Strategic Step Four: Raise Your Rates
Unless you never need to sleep, you are not going to earn a six-figure annual income charging $5 per project. With your engaging explanation of your services, and your ever-growing online Portfolio, customers will expect to pay more than $5 for your expertise.
A What-not-to-do Tip: Don’t undersell yourself for long. It’s ok to take on a few projects for $20 to build your reputation, but eventually you must raise your fees. You are on Fiverr to earn a living, not to create a portfolio of 100 projects at $5 each.
Two (of many) Freelancers on Fiver Who Have Earned $100K+
Follow the above strategy, and you will be earning a six-digit income like these successful Fiverr creatives:
Though you wouldn’t know it by reading her online profile, Charmaine Pocek embraced the Fiverr platform to build a resume-writing business. She started with Fiverr in 2011 to earn some extra income in addition to her full-time job as a Recruiter. Charmaine initially offered resume rewrite services for $5. When Fiverr promoted her services to the Level 2 status for her great customer ratings, she began increasing her prices. In 2013, she earned $15,000 a month. By 2015, it jumped to $320,000.
Army Veteran Levi Newman was earning $35,000 a year before he stumbled upon Fiverr in December of 2014. During his first few months on Fiverr, Levi earned about $1,200 writing marketing and ad pieces.Today he earns an average of $15,000 a month and has clients from all over the world.
Wanting to earn a six-digit annual income on Fiverr is not reinventing the wheel. It’s been done by others and there is no reason you can’t do it as well. Simply be exceptional, diligent, service-centric, and patient.
