What is the benefit of subscription in our gigs?

[mirusmanghani]

The new option of subscription along side gigs. Can anyone guide me what is its benefits as buyer is already negotiating on price and if we gave him long term discount he would thought he/she is overcharging us.

 

please comment on this feature.

[smashradio]

It's about knowing your own worth. I don't negotiate on price unless the project is very big (2000+ USD) and even then, I'm not willing to undervalue myself. If you let buyers dictate your rates, that's not a great position to be in. 

With subscriptions, you can offer a discount for repeat clients. It's a great way to keep them coming back for more, increasing your chance of getting a repeat buyer-badge on your profile and gigs. This can factor in to your visibility on the platform and also works like a marketing tool: buyers who see that you have many repeat clients will know that others come back for more, so you must be good. 

Most buyers understand this concept: they're being rewarded for their loyalty. It's why coffee shops have stamp cards and member-cups, and why you get a cheaper price on most services if you get a yearly contract instead of paying monthly. For you, it means some form of financial stability, too. How much of a discount you want to give is up to you. I wouldn't go too high. 

[newsmike]

4 hours ago, smashradio said:

How much of a discount you want to give is up to you. I wouldn't go too high. 

Yes, there are plenty of ways to lose value on your work. If you think of it, all the following reduce your wages. 20% commission to Fiverr, Seller Plus, Promoted Gigs, coupons and subscriptions. If you are doing these things, it is best to make sure that you have built in the cost of all these things or else you are killing your actual net earnings, that's before taxes come along. 

 

[graphicavmx]

26 minutes ago, newsmike said:

Yes, there are plenty of ways to lose value on your work. If you think of it, all the following reduce your wages. 20% commission to Fiverr, Seller Plus, Promoted Gigs, coupons and subscriptions. If you are doing these things, it is best to make sure that you have built in the cost of all these things or else you are killing your actual net earnings, that's before taxes come along. 

 

I strongly agree with you. If we are providing these things, we should be including costs for those things.

[smashradio]

2 hours ago, newsmike said:

Yes, there are plenty of ways to lose value on your work. If you think of it, all the following reduce your wages. 20% commission to Fiverr, Seller Plus, Promoted Gigs, coupons and subscriptions. If you are doing these things, it is best to make sure that you have built in the cost of all these things or else you are killing your actual net earnings, that's before taxes come along. 

 

Indeed. My prices are set up in a way so I can afford to give a few discounts to my regular clients, like discounts if they subscribe. I also use Coupons, but sparingly and only for buyers who consistently leave a lot of $$ with me. I like to set it up for special occasions, like having a small "summer sale" exclusively for my best clients or Black Friday. You know - make it fun. If you give out random discounts to everyone who asks, you're shooting yourself in the foot. Or, as we Norwegians like to say: you're standing with your beard in the mailbox! 🤣

Edited August 26, 2022 by smashradio

[newsmike]

20 minutes ago, smashradio said:

Or, as we Norwegians like to say: you're standing with your beard in the mailbox!

I love a good Norwegian "beard in the mailbox" analogy as much as the next guy.  

[mirusmanghani]

thank you for your help guys. This is definelty help me setup my gigs prices so i don't lose value to my client.