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Tips: Set/ Increase Gig price


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  • 3 weeks later...
On 8/23/2021 at 6:08 PM, seven_sign said:

This is only a part of the business strategy.

In Fiverr, there are lots of buyers from different levels.

  • Few clients look for cheap price services to match their budget, some go with high prices as needed for reliability, quality, and trust.
  • As an individual, so many of us can't understand the term of the levels of the buyer.

I can understand that some people struggle hard to get started in Fiverr and most of them choose cheap pricing to get started with a common thought of increasing the chances to get orders.

But, I also see that a large number of new sellers with cheap pricing have intermediate levels of skills actually.

 

Sometimes we are in confusion by watching cheap pricing from a very well reputed seller!

 

But the actual scenario is different. To establish your business and grow to the next level, you should know the audience, customers, buyers of the business world.

There are different levels of buyers/businesses in the business world. And each buyer/business have their own budget, own requirements and own choice, etc.

 

If I label them based on the budget, there are a couple of levels. So each price has its own audience, buyers, and competitors.

 

So, when you set your gig price at $5, a buyer from a level over $50, will not show interest to take your service usually. Only the buyers from the $5~$20 level will reach you to meet their budget or save some money.

 

Also, once you change your service price, the buyer level group will be changed, as well as the competitor will be changed too. Hence, if you have a great strategy of business, skills, and results, you don't have to be worried to see the changes at the very beginning stage after the changes.

 

If you think, what will be the best way to set your gig price, I will ask you to follow this:

  • Know your skill level and quality.
  • Target your business/buyer level.
  • Match your gig image, description, and etc. related to your price.


If you want to increase the gig price to a different level, i.e. $10 to $50, $100 or above, I will ask you to follow this:

  • Is your gig match your skills, work quality, support?
  • A soft reminder, once you change your service price, the buyer level will be changed, as well as the competitor will be changed too. Hence, if you don't have a great strategy of business, skills, and results, you may fail to survive or grow smoothly.
  • Also, remember that the challenge of the changes in the level of buyers and competitors is dynamic. Where Challenge difficulties are higher for cheap pricing and fewer for high pricing services.

In real practice, so many increase gig price to receive less order to avoid overbooking.

 

I think, few of the established individuals, especially agencies, follow the strategy. They focus on their targeted level, offer to price like that way. It's nothing bad.

 

Thank you.

Seven_Sign

Wonderful information. 

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On 8/23/2021 at 7:08 PM, seven_sign said:

This is only a part of the business strategy.

In Fiverr, there are lots of buyers from different levels.

  • Few clients look for cheap price services to match their budget, some go with high prices as needed for reliability, quality, and trust.
  • As an individual, so many of us can't understand the term of the levels of the buyer.

I can understand that some people struggle hard to get started in Fiverr and most of them choose cheap pricing to get started with a common thought of increasing the chances to get orders.

But, I also see that a large number of new sellers with cheap pricing have intermediate levels of skills actually.

 

Sometimes we are in confusion by watching cheap pricing from a very well reputed seller!

 

But the actual scenario is different. To establish your business and grow to the next level, you should know the audience, customers, buyers of the business world.

There are different levels of buyers/businesses in the business world. And each buyer/business have their own budget, own requirements and own choice, etc.

 

If I label them based on the budget, there are a couple of levels. So each price has its own audience, buyers, and competitors.

 

So, when you set your gig price at $5, a buyer from a level over $50, will not show interest to take your service usually. Only the buyers from the $5~$20 level will reach you to meet their budget or save some money.

 

Also, once you change your service price, the buyer level group will be changed, as well as the competitor will be changed too. Hence, if you have a great strategy of business, skills, and results, you don't have to be worried to see the changes at the very beginning stage after the changes.

 

If you think, what will be the best way to set your gig price, I will ask you to follow this:

  • Know your skill level and quality.
  • Target your business/buyer level.
  • Match your gig image, description, and etc. related to your price.


If you want to increase the gig price to a different level, i.e. $10 to $50, $100 or above, I will ask you to follow this:

  • Is your gig match your skills, work quality, support?
  • A soft reminder, once you change your service price, the buyer level will be changed, as well as the competitor will be changed too. Hence, if you don't have a great strategy of business, skills, and results, you may fail to survive or grow smoothly.
  • Also, remember that the challenge of the changes in the level of buyers and competitors is dynamic. Where Challenge difficulties are higher for cheap pricing and fewer for high pricing services.

In real practice, so many increase gig price to receive less order to avoid overbooking.

 

I think, few of the established individuals, especially agencies, follow the strategy. They focus on their targeted level, offer to price like that way. It's nothing bad.

 

Thank you.

Seven_Sign

Your tips are great, thanks for sharing . 

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