7+ reasons to raise your selling price in 2022

[newsmike]

With the new year looming I suggest that you consider raising prices on your services for many reasons. Among them:

1. Fiverr gives you great tools to help promote your sales, but many come at a price. If you are a member of "seller plus", that is $348 per year right off the bat. Build that in.

2. Seller plus allows you to send coupons to select customers, which can build sales, but at a lower wage per project. Calculate how much the coupons cost you. Build that in. 

3. Subscriptions let you sell several widgets instead of just one, but at a reduced price per widget. Calculate that and yes, Build that in.

4. "Promoted gigs" can add up quickly.  If you spend just $100 per month on promoting your gigs, that's another $1,200 per year. Good program, but.. Build that in.

5. Remember that Fiverr takes 20% off the top (well deserved), but you can see that this is all adding up quickly.  Build that in. 

6. Global inflation and supply chain disruptions are making bread, beer and beans more expensive, but also electricity, paper, laptops, internet, cat food, and streaming. Yes, Spotify just hit me up for an additional $1 per month. Everything you use for your business and your personal life is getting more expensive. Build that in.

7. Taxes are not going down. Every politician I hear seems to want more of what I generate here on Fiverr, but they promise that this time, they will really, really spend it wisely. Build that in. 

If you add up what effect this will have on your earnings, it is a staggering loss, and one that we all need to prepare for. The opportunities we have to promote our services here on Fiverr are helpful, just remember to do what every corporation in the world does. They pass the cost of advertising (and literally everything else) on to the consumer. It's just good business sense, or you end up working for a lower wage year after year, unless you adjust for rising costs. 

I think many of us forget this and remain static, or even slide backwards because we, as individuals don't tend to think like corporations, and neglect to adjust selling price to keep pace with cost of production, promotion, and inflation.

Plus, there is a hidden benefit that comes from raising prices.  Fiverr algorithm (if it has any common sense at all) should favor higher priced sellers, as that makes their 20% larger.  Not to mention that raising prices shakes off the most problematic buyers, and makes you appear more valuable to the high end buyers, like VID's and "Fiverr Business" buyers.

I realize that it can be scary to increase prices, but I know lots of sellers who have taken the plunge and have seen the many benefits that come from doing so. If you are not brand new and trying to get that L1, you should give yourself a raise in 2022.  After all if you don't, who will?

Edited November 22, 2021 by newsmike

[andywarburton]

Every time I've tried increasing my prices I've seen an immediate reduction in the amount of orders I get... I'm scared of trying it again 🙂

[newsmike]

5 hours ago, andywarburton said:

Every time I've tried increasing my prices I've seen an immediate reduction in the amount of orders I get... I'm scared of trying it again 🙂

I get it.  I have had lots of times where I raised prices and sat with no orders for days until it clicked back in.  Everyone's experience is different.  

[zanardi2]

17 hours ago, newsmike said:

Plus, there is a hidden benefit that comes from raising prices.  Fiverr algorithm (if it has any common sense at all) should favor higher priced sellers, as that makes their 20% larger.  Not to mention that raising prices shakes off the most problematic buyers, and makes you appear more valuable to the high end buyers, like VID's and "Fiverr Business" buyers.

This is what I was thinking about too. Raising your prices make you appear more valuable. My girlfriend, who is also a freelancer, raised her prices this spring. The best decision she ever made, except for giving me her heart.

[tamanna14111986]

Thanks for your valuable tips. But now the new sellers keep very low prize and we face problem to get orders.

[zanardi2]

1 hour ago, tamanna14111986 said:

Thanks for your valuable tips. But now the new sellers keep very low prize and we face problem to get orders.

Yeah, so? They work x hours for y dollars, you work x hours for 5*y dollars. Plus, you never wondered why the price of a certain thing is so low?

[leahramsay]

Thank you for sharing this! I raised my base rate recently after debating it for the last while. Wish I did it sooner! The amount of orders I get now are still about the same (maybe even a little less), but I don’t get nearly as many orders from problematic buyers as I was. Totally worth it for me! 🙌 

Edited November 24, 2021 by leahramsay

[newsmike]

On 11/23/2021 at 6:29 AM, tamanna14111986 said:

Thanks for your valuable tips. But now the new sellers keep very low prize and we face problem to get orders.

I said in that post. "Unless you are a new seller."  This was advice for more established sellers.  

[newsmike]

10 hours ago, leahramsay said:

Thank you for sharing this! I raised my base rate recently after debating it for the last while. Wish I did it sooner! The amount of orders I get now are still about the same (maybe even a little less), but I don’t get nearly as many orders from problematic buyers as I was. Totally worth it for me! 🙌 

Yes, that is the result that many have.  I'm glad you are finding that the quality of your buyers greatly improve as your prices increase.  Congratulations.

[rabihumakhan]

Thank-you for this good post. I'm a level one seller and have sold 30 gigs so far out of which 28 orders came from custom offers. I and buyers discussed their requirements and then reached on agreements for the prices and other stuff.  Also, one of my gigs is ranking on the first page and I'm getting at least one order per day.  

 

Should I still increase my prices or it would risk my gig's top position? 

[fiveroptic1]

Well - I had a meet with my success manager today who 'suggested' that I 'might' want to look at my pricing. In other words, put them up. So who am I to argue.  

[fusionux]

1st time I am visiting Fiverr forum page and I am really happy cause I got lots of expert as like you.

[tamanna14111986]

1 hour ago, newsmike said:

I said in that post. "Unless you are a new seller."  This was advice for more established sellers.  

Thanks. Yes I am very close to level two. All requirements fulfilled only earning is not . Some times I increase my prize but couldn't get more order.

[newsmike]

2 hours ago, rabihumakhan said:

Should I still increase my prices or it would risk my gig's top position? 

You can always test it.  It should not change where you rank, though that is randomly rotated. 

[yeoshinjuno]

On 11/22/2021 at 8:37 PM, andywarburton said:

Every time I've tried increasing my prices I've seen an immediate reduction in the amount of orders I get... I'm scared of trying it again 🙂

The increase must be gradual. A few $ at a time. 

[kawsir_hossain]

Thanks for sharing your advice. I like your post so much, but I don't get your presence much more in Fiverr Forum. Hoping you come back again and again with more useful & informative post. Thanks

[gongor32]

My price came from researching other similar gigs, 1 year ago. Today when I checked most of them seems to be increased their price by at least 30%. 😅  Oops. 

[kitsunekei1]

this is insulting, when they showed me the coupons feature they said it was not gonna take affect on my earnings and now I have to charge extra for the coupon? its better if I only keep the prices I handle with my regular customers instead of wasitng money in this useless feature,  I can only provide coupons to customers that have bought something within 60 days   I cant even grant coupons to new customers, why exactly wasting money on the couons feature is good? I prefer to give a discount to my customer by myself than keep wasting my earnings

[filipdevaere]

Indeed, you are thinking the same as I do.
I have had the intention already since last month to update all my Gig’s and the prices, but still found no time to do it. Should be finished at the end of this month. 

[visualstudios]

Yeah, I don't think that will fly... There's a limit to how much prices can be raised lol.

Anyway, my tips:

Don't offer discounts
Don't offer coupons
Don't offer subscriptions
Don't offer anything that will decrease your selling price
Don't buy gig promotion
Don't spend money on anything you can avoid (seller plus is worth it though)
Move to a country where you don't have to pay taxes.

[mateusbl]

7 hours ago, visualstudios said:

Don't offer coupons

I agree with you, but each one should try at least the Couponand see if bring prositive results, in one case I gived a Coupon and after that the same buyer purchased other 2 orders without discounts of the coupon (the coupon will discount only in the first order).

[isai92]

I'm glad I did it a few months back. I took the decision after I had the worst experience with a problematic buyer. I was scared that I could lose clients: I thought they hired me because of my price. In deed, some of them never came back after I raised the price. But some of them stayed. And I started seeing my orders going up again about two weeks after the change. Many new buyers included. Now I have worked with much less problematic clients. Actually, I have hardly had any bad experience since then. 

I took this decision about 3 years after I started freelancing, and it was an AWESOME decision!

[munny_0303]

I have increased the gig price after level two, but I am working at the previous price, lol🤣

[designboom]

On 11/24/2021 at 7:20 AM, leahramsay said:

Thank you for sharing this! I raised my base rate recently after debating it for the last while. Wish I did it sooner! The amount of orders I get now are still about the same (maybe even a little less), but I don’t get nearly as many orders from problematic buyers as I was. Totally worth it for me! 🙌 

It was the same for me!! I am a top rated seller and was scared to raise my prices, thinking that I would lose the regular clients, get less orders etc... but on the order hand I was too busy. Now I get just a little less orders, but mostly I got rid of those problematic buyers. I kept the same prices for old clients, which I give discount through custom offers. And I have more time to delivery better, quality designs which increased the amount of new repeated buyers and more tips! Was a WIN for me!

Edited March 1, 2022 by designboom
speling mistake

[fastcopywriter]

On 11/22/2021 at 1:23 PM, newsmike said:

1. Fiverr gives you great tools to help promote your sales, but many come at a price. If you are a member of "seller plus", that is $348 per year right off the bat. Build that in.

 

Seller Plus? What is that? I was using Promoted Gigs, then got banned. Fiverr only promotes the people they like, and just because they like you today doesn't mean they'll like you tomorrow. 

 

On 11/23/2021 at 8:49 AM, zanardi2 said:

you work x hours for 5*y dollars.

Hardly anyone works for $5 anymore. 


I did raise my prices. I figure if I rarely get an order, I might as well make more money per order. In the old days, I could charge $5 or $10, and get 5 to 20 orders per day. I miss the old days, Fiverr was better.