My experience of increasing prices

[english_voice]

I thought it might be useful to share my experience of increasing my prices.

For those that don’t know me, I’ve been selling on Fiverr for the past eight years. I have 500+ 5* feedback ratings. I’ve seen just about every scam possible on Fiverr. I’ve also had many totally amazing buyers. Like many I started selling $5 gigs, and then realised I was way too cheap. For about six years my main gig has started at $10. However, earlier this year I increased my fee to start at $15.

I increased my price for four reasons: 1) I saw other sellers with less experience / feedback also charging $10 and achieving orders. 2) I started to notice a few less serious buyers purchase my gig (for new sellers, this is a warning sign that your prices might be too cheap). 3) Six years is a long time to hold a price when cost of living has gone up. 4) All of the three reasons combined made me feel disheartened that I was working hard but I wasn’t getting the financial reward based on experience.

The result? My orders have fallen away by about three-quarters! Yes, my orders are down massively. Even though I am making more money per order - overall my revenue has more than halved. But, you know something? I’m feeling good about this. And this is my reason for posting >>>>> although I am generating far less income now, the money I do receive through Fiverr is at a rate I am much happier with. It’s made me fall back in love with Fiverr again. The orders that I do get are from buyers who are more serious and want a quality result, and I feel fresh with each new order.

To my friends on the forum, I’m not going to be posting regularly but I’m still on Fiverr. Stay safe.

[sagnik7]

I’m a level 1 seller and I have 40+ 5* ratings. Around 10 days ago I increased my price by $5 on each beginner, medium and premium services. I used to get 5k to 6k impressions and 50-60 clicks. I used to get regular orders and messeges as well. But since I increased my price I’m getting 1000-1100 impressions and 6-7 clicks and 0 orders and 0 messages. What am I suppose to do? should I wait or decrease my price?

[english_voice]

Hello, I thought I'd update this thread for anyone who might be interested.

It's now getting on for five months since I increased my fees on Fiverr by a third.

To put this in context, I'm probably in the top third of most expensive proofreaders on Fiverr. However, I'm certainly nowhere near the most expensive - and with eight years' experience on Fiverr and 500+ 5* jobs, I believe I should be charging a premium for my skills and experience.

However, the past two months on Fiverr have been my quietest in eight years. I've gone from earning hundreds of dollars a month on Fiverr to way less than $100 - and most of that has come from a small handful of existing repeat clients.

I just want to share my experience in case it helps anyone else. You've got to charge a rate that feels right to you (otherwise you won't be happy working on orders), but equally you've got to be realistic about what the market will withstand. It looks like I overpriced myself for Fiverr, but in the real world my Fiverr prices are actually cheap! Ultimately, I'm happy with my decision as at least I'm being paid a fair rate for the little work that I now do through the platform.

In summary, I'm not moaning, it was my decision to increase my fees - but it's resulted in a massive fall in orders. To anyone thinking about increasing their prices, think very carefully! If, like me, you have other outlets (spread the risk) then give it a go. But if Fiverr is your main source of income, you could see a huge drop in revenue, and it may not be possible to recover the previous volume of orders.

Stay safe x

 

[weareartfull]

11 minutes ago, english_voice said:

Hello, I thought I'd update this thread for anyone who might be interested.

It's now getting on for five months since I increased my fees on Fiverr by a third.

To put this in context, I'm probably in the top third of most expensive proofreaders on Fiverr. However, I'm certainly nowhere near the most expensive - and with eight years' experience on Fiverr and 500+ 5* jobs, I believe I should be charging a premium for my skills and experience.

However, the past two months on Fiverr have been my quietest in eight years. I've gone from earning hundreds of dollars a month on Fiverr to way less than $100 - and most of that has come from a small handful of existing repeat clients.

I just want to share my experience in case it helps anyone else. You've got to charge a rate that feels right to you (otherwise you won't be happy working on orders), but equally you've got to be realistic about what the market will withstand. It looks like I overpriced myself for Fiverr, but in the real world my Fiverr prices are actually cheap! Ultimately, I'm happy with my decision as at least I'm being paid a fair rate for the little work that I now do through the platform.

In summary, I'm not moaning, it was my decision to increase my fees - but it's resulted in a massive fall in orders. To anyone thinking about increasing their prices, think very carefully! If, like me, you have other outlets (spread the risk) then give it a go. But if Fiverr is your main source of income, you could see a huge drop in revenue, and it may not be possible to recover the previous volume of orders.

Stay safe x

 

Just out of curiosity, since your sales have dropped due to pricing, will you consider lowering it again?

[zero_doshomik]

Thanks for your sharing and yes that will help us when we may think to increase the rate... 

 

[aktershamoly]

Thanks for sharing .

[anas_munir_01]

Fiverr is a mysterious place.

Thanks for sharing your Fiverr Journey.