As you may know from my previous posts, I’ve begun dabbling with a platform called Fiverr.
Fiverr is a platform in which people sell their services for $5. If you go on the site, you’ll see you can get a lot done for such a low price – ranging from voiceovers to logo designs to song mixing. I’ve actually used it a lot to get work done for my business.
Regardless of the seemingly small profits, a lot of people are actually making a full-time income off the platform. I want to give an overview of how this is possible.
How to Make a Living On Fiverr
Many people would argue that working for such a small amount of money means selling yourself short. For a $5 gig, you actually only make $4 – and when you withdraw the funds to your PayPal account they take another 2% cut (so you would only make about $3.92 for a $5 gig). Essentially Fiverr takes about a 22% cut from your earnings which can be a a lot.
Amazingly, I’ve read cases in which people make a whopping $40,000 a month through the platform. That’s equivalent to a $480k yearly salary! If there are many cases in which people work full-time through the platform, it must mean it is a platform worthwhile to look into.
Here are my tips on the basics of how to make decent income and possibly a full-time salary through Fiverr.
1. Make it Worth Your Time
I decided to choose gigs that could be done in a short amount of time. I knew I wouldn’t be able to stand taking hour-long orders to make less than $4. You should think in this way so you can continue with it and scale the business easier. Some ideas for example gigs include:
- Quick design work
- SEO (building backlinks or giving site audits)
- Reddit link karma
- Social media services (promoting people’s stuff on your own pages)
- Kindle formatting
- Converting files
- Video testimonials
2. The Money is in the Upsell
If you’re only taking $5 gigs, it would take a crapload of them to really make decent money. A lot of people purchase my $10 and $25 gigs instead of my $5 gig based on what they receive for those tiers. Try to package your gigs to have really strong upgrades so people are more tempted to spend more on the product.
3. Automate if You Can
If you’re able to make a gig in which you can automate it through outsourcing, you will be able to earn passive income without having to put in too much time and effort into the platform.
4. If the Gig Doesn’t Sell, Switch It
If you’ve released a gig that hasn’t sold for months, it’s time to switch it out. Keep publishing gigs until they sell and get reviews, and switch out the ones that aren’t getting bought. The longer the gigs are there with 0 sales, the worse the search rankings for that gig will get.
5. Build Ratings
In January and February, I made an average of around $50/month, but in March I earned $150-200. It’s definitely not much; however, it shows that the testimonials and reviews really helped with converting window shoppers to buyers.
6. Say “No” Sometimes
Along the same lines of tip #1, you’re going to need to say “no” to gigs that aren’t worth your time. People may message you for custom orders, and if they don’t fit you time-wise, you’ll need to know how to reject them even if they bring in more income.
On the other hand it’s good to take what comes when you first start selling as you need to rack up reviews. However, as you build your profile make sure you understand your value and make sure you’re only doing what’s worth your time.
7. Track Your Views, Sales, and Ratings
Keep tracking your progress through their analytics. Make sure you’re continuously growing and using the above tactics to improve your listings and profile. Remember – if a gig isn’t selling, switch it out.
8. Work on Reaching Level 1 & 2 Seller Status
The benefits of being a level 1 and level 2 seller are mainly 1. the badge you receive that gives you credibility, 2. the ability to price your basic gigs for more, and 3. the ability to add more gigs (you can only put a max of 7 as a beginner seller).
Level 1 seller allows for these perks:
Level 2 seller allows for these perks:
A lot of money can be made on Fiverr, especially because a lot of people will steer away from the idea of working for $5. Many people won’t understand that once you build a portfolio on Fiverr, you can charge more and more. I haven’t made a full-time income off Fiverr yet, but I know the platform has potential.
If this is something you’re interested in, use my link here to join today!