Changing prices on gigs

[marijapetrusek9]

I'm relatively new to fiverr and have been thinking about changing prices for a long time. What do you advise? Should you change the prices when you reach the next level on fiverr or when you want to? Have you experienced price changes who have been on fiverr for some time? How did it affect your clients who have been working with you for 2 or more months? Thanks in advance!

[donnovan86]

You can change prices at any given time. That's all up to you. After all, you are the only one that knows how much value you offer to customers and if they are happy with your work. But you can expect less orders as you increase prices, that's natural. 

[sabinespoems]

Oh boy do I know this struggle! My thoughts on raising prices also used to be 'when I reach Level 1/2 I'll raise my prices'. But like @donnovan86said, there's absolutely no reason to wait. Of course, at the beginning when you want to get your foot in the door you might want to outprice your competitors. I see you already have 13 reviews on one gig so that's wonderful! And I'd say a good moment to reach your prices since your base price point is only $5. 

I don't have a lot of returning buyers due to the nature of my gig. However, the ones who did come back after I changed my prices didn't seem to mind it at all. I informed them saying my prices have increased since last time and all they said was 'okay send an offer'! 

I also don't have any hard data to confirm raising prices = fewer orders. However, even if you have fewer orders the revenue most likely evens out since you (hopefully) get the same revenue with even less work. I somewhat recently raised my prices after thinking about it for a long time. I also asked for advice on this forum and some even mentioned they believed my prices are still not high enough 🙈 But I'm still hesitant to raise them further because I do think it will affect my orders. 

As you can tell from the text above, it's all a bit of trial and error. I'd say raise your prices and see what happens! Especially since your prices are extremely low. In my opinion, no service is worth a mere $5 (even less than that after deducting the %20 fee). 

In short: don't wait for anything and just raise your prices to see what happens (spoiler alert; you'll most likely only see benefits!) 😄 

[marijapetrusek9]

10 hours ago, sabinespoems said:

Oh boy do I know this struggle! My thoughts on raising prices also used to be 'when I reach Level 1/2 I'll raise my prices'. But like @donnovan86said, there's absolutely no reason to wait. Of course, at the beginning when you want to get your foot in the door you might want to outprice your competitors. I see you already have 13 reviews on one gig so that's wonderful! And I'd say a good moment to reach your prices since your base price point is only $5. 

I don't have a lot of returning buyers due to the nature of my gig. However, the ones who did come back after I changed my prices didn't seem to mind it at all. I informed them saying my prices have increased since last time and all they said was 'okay send an offer'! 

I also don't have any hard data to confirm raising prices = fewer orders. However, even if you have fewer orders the revenue most likely evens out since you (hopefully) get the same revenue with even less work. I somewhat recently raised my prices after thinking about it for a long time. I also asked for advice on this forum and some even mentioned they believed my prices are still not high enough 🙈 But I'm still hesitant to raise them further because I do think it will affect my orders. 

As you can tell from the text above, it's all a bit of trial and error. I'd say raise your prices and see what happens! Especially since your prices are extremely low. In my opinion, no service is worth a mere $5 (even less than that after deducting the %20 fee). 

In short: don't wait for anything and just raise your prices to see what happens (spoiler alert; you'll most likely only see benefits!) 😄 

Thank you so so much!!!

[marijapetrusek9]

13 hours ago, donnovan86 said:

You can change prices at any given time. That's all up to you. After all, you are the only one that knows how much value you offer to customers and if they are happy with your work. But you can expect less orders as you increase prices, that's natural. 

Thank you! 🙂