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Pricing Competitively on Fiverr


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At first glance, determining the correct price for your Fiverr Gig can seem puzzling. For Sellers starting out and others looking to “up their game,” it can be a challenge to be both competitive and still ensure that you’re paid fairly for your work.

For a Buyer to build a sustainable presence on Fiverr, it’s essential to understand and balance all the relevant factors, including your overhead—that is, expenses incurred in delivering your particular gig, including Fiverr Transaction Fees— and incorporating useful options such as tiered packages and Gig Extras.

We’ve developed guidelines that will help you navigate the basic strategies and the tools at your disposal. In this article, we’ll look at two of these factors: Evaluating Your Competitors and Considering the Fiverr Transaction Fee.

 

By looking at successful Competitors with similar gigs, you can determine an average price for the type of gig you’re creating.


image.thumb.png.6b2ea8f0e83de3355685887a5c6d8450.png

 

As unique and talented as you may be, you’ll likely have hundreds, if not thousands, of competitors on Fiverr. That might initially seem discouraging—how can you stand out in a massive crowd? When researching Top Rated sellers in your category, you'll begin to recognize specific patterns.

  1. Clear, customer-centered profiles and descriptions: One of the most important rules to success on Fiverr: don’t simply tell people about your accomplishments—explain how your talents and experience can help them achieve their goals. Even if you’re new to the platform, the experience you offer means that you will understand the needs of your clients.
  2. The most highly-rated Sellers and Gigs are always delivered on time, prepared with care, and delivered with respect. Read the reviews of your competitors and learn what buyers appreciate: Attention to detail, care for the needs of the client, on-time or early delivery; and
  3. Fair Pricing: Fair doesn’t mean cheap! The most successful and sustainable gigs on Fiverr offer pricing that reflects the value of the work. Pricing a gig too low reflects negatively on the perceived quality of the gig. Likewise, pricing too high will turn off many start-ups and individual entrepreneurs who love our platform. Evaluate the pricing of gigs similar to yours and price accordingly. Buyers expect professional quality and are willing to pay reasonably for it. 
     

image.thumb.png.4e52938470cf22e7ebb2dd78199fd609.png

 

You should also take into account the Fiverr Transaction Fee.

One of the most significant advantages of Fiverr-based work is access to a worldwide network of buyers, a responsive and engaged customer support service, an extensive marketing program, and the robust protection provided with each transaction. Fiverr makes it possible for you to focus on what you do best while we take care of everything else.

When you price your gig, always keep in mind the bottom line. Fiverr subtracts the 20% transaction fee from every financial interaction with your Buyer, including tips. In determining the price of your gig, keep in mind what you’ll receive for each gig after the transaction fee. For example, if a gig is $50, you’ll receive $40. If you price your gig at $60, you will receive $48.

In the following article, we’ll take a look at tools that can motivate a buyer to purchase your gig, like tiered packages and added-cost extras, allowing you to keep the basic price low and attractive, while offering the buyer the ability to customize the Gig to fit their needs. 
 

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  • 1 year later...

Reminds me that I made a topic that included the subject of pricing that wasn't approved earlier. Why not? It involves AI and Fiverr so I would have thought it would have been fine. It is relevant, because I will refer to it below. And, eventually, if someone sees fit to accept my writing - not AI, sadly - I can link the two up. 

This article forgot considering the tax man 🙂 It's also worth noting that a consumers generally don't enjoy paying "extra" for a service and that many sellers use package prices as a bait and switch pricing model, getting clicks with low prices then springing the "real price" later on. That's when they're not scrabbling to pull them away from the platform. Of course, gig extras were only introduced as a way to help sellers charge more than $5 in the first place because sellers were demanding it, what, 10 years ago?

Make note of that. Gig extras were there to increase the value of $5 gigs

Wouldn't it make more sense - you'll need to refer to the topic I created that is languishing somewhere among the Thai love spell spams and other assorted rubbish  - to just eliminate gig extras altogether? Since realistically, they've moved from "helping sellers to charge more" to "locking essentials behind a hidden price wall". You know that I am correct on this because Fiverr has had to enforce certain gig extras as mandatory as well as category pricing minimums. You also know that complaints about this are not uncommon. 

So why not shake it up? Why not use AI to "price competitively"? Remember the little extra tip in that topic I posted on top of GPT's suggestion? That's right, Fiverr has control of the algo and can give things a nice bulky weight at the higher end. It's basically the same as the "must charge $80 for websites" policy, but more subtle and gradually pulling the marketplace up. Like your Investors Reports tell people, Fiverr is aiming upmarket and AI is its big love. 

Was that idea so terrible that my post could not be published and discussed with the community?  

I'll ignore that the conclusion reads more like an introduction and also basically tells sellers that bait and switch is kinda OK because it's "attractive" to price your gigs low and hide the good stuff behind gig extras. You don't need me to tell you how many sellers will read this and come to the wrong conclusion. 

Don't worry, I don't expect anyone to read this. It's intelligent and insightful - if somewhat critical - commentary that points out the flaws in Fiverr's content marketing strategy on a necropost - not exactly the raison d'être for this forum or indeed any of Fiverr's recent moves. One final point: this article was written just over a year ago. Since then, 200,000 buyers have left. 

Has Fiverr not considered that as AI improves and becomes even more user friendly, this trend will only worsen? Repeat after me: complex AI services can easily be performed by a GPT agent in the near future. Without the wait - and at a cost that probably equals 1 gig for 1 small thing each month. During the industrial revolution, small businesses all got swallowed up by factories. Eventually, what happened was that capitalism found that these "old fashioned" products that were "hand made" could be charged at a premium because they were "artisan" rather than factory made. History may not repeat, but it often rhymes. Another little industrial revolution era factoid for you: we only have the 5-day workweek because prior to that, factory owners were working people to the bone 7 days a week. As it turned out, this was bad for their mental and physical health. The weekend is a modern invention of capitalism. 

Workers in the Middle Ages had many more holidays than we do today. And what we're actually seeing with platforms like Fiverr is a neo-feudalism that also mixes in the worst bits of classical, industrial-era capitalism. All those rights won over the course of the 19th and 20th centuries are slowly being eroded. Again, Fiverr does note that a unionization of freelancers would threaten its business model. It's in the investor docs.

If nobody at Fiverr can see the toweringly huge elephants lumbering in the room around it, then this company is doomed. 

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Reminds me that I made a topic that included the subject of pricing that wasn't approved earlier. Why not? It involves AI and Fiverr so I would have thought it would have been fine. It is relevant, because I will refer to it below. And, eventually, if someone sees fit to accept my writing - not AI, sadly - I can link the two up. 

This article forgot considering the tax man 🙂 It's also worth noting that a consumers generally don't enjoy paying "extra" for a service and that many sellers use package prices as a bait and switch pricing model, getting clicks with low prices then springing the "real price" later on. That's when they're not scrabbling to pull them away from the platform. Of course, gig extras were only introduced as a way to help sellers charge more than $5 in the first place because sellers were demanding it, what, 10 years ago?

Make note of that. Gig extras were there to increase the value of $5 gigs

Wouldn't it make more sense - you'll need to refer to the topic I created that is languishing somewhere among the Thai love spell spams and other assorted rubbish  - to just eliminate gig extras altogether? Since realistically, they've moved from "helping sellers to charge more" to "locking essentials behind a hidden price wall". You know that I am correct on this because Fiverr has had to enforce certain gig extras as mandatory as well as category pricing minimums. You also know that complaints about this are not uncommon. 

So why not shake it up? Why not use AI to "price competitively"? Remember the little extra tip in that topic I posted on top of GPT's suggestion? That's right, Fiverr has control of the algo and can give things a nice bulky weight at the higher end. It's basically the same as the "must charge $80 for websites" policy, but more subtle and gradually pulling the marketplace up. Like your Investors Reports tell people, Fiverr is aiming upmarket and AI is its big love. 

Was that idea so terrible that my post could not be published and discussed with the community?  

I'll ignore that the conclusion reads more like an introduction and also basically tells sellers that bait and switch is kinda OK because it's "attractive" to price your gigs low and hide the good stuff behind gig extras. You don't need me to tell you how many sellers will read this and come to the wrong conclusion. 

Don't worry, I don't expect anyone to read this. It's intelligent and insightful - if somewhat critical - commentary that points out the flaws in Fiverr's content marketing strategy on a necropost - not exactly the raison d'être for this forum or indeed any of Fiverr's recent moves. One final point: this article was written just over a year ago. Since then, 200,000 buyers have left. 

Has Fiverr not considered that as AI improves and becomes even more user friendly, this trend will only worsen? Repeat after me: complex AI services can easily be performed by a GPT agent in the near future. Without the wait - and at a cost that probably equals 1 gig for 1 small thing each month. During the industrial revolution, small businesses all got swallowed up by factories. Eventually, what happened was that capitalism found that these "old fashioned" products that were "hand made" could be charged at a premium because they were "artisan" rather than factory made. History may not repeat, but it often rhymes. Another little industrial revolution era factoid for you: we only have the 5-day workweek because prior to that, factory owners were working people to the bone 7 days a week. As it turned out, this was bad for their mental and physical health. The weekend is a modern invention of capitalism. 

Workers in the Middle Ages had many more holidays than we do today. And what we're actually seeing with platforms like Fiverr is a neo-feudalism that also mixes in the worst bits of classical, industrial-era capitalism. All those rights won over the course of the 19th and 20th centuries are slowly being eroded. Again, Fiverr does note that a unionization of freelancers would threaten its business model. It's in the investor docs.

If nobody at Fiverr can see the toweringly huge elephants lumbering in the room around it, then this company is doomed. 

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Fiverr should really fix that hidden posts are double posts. A very minor thing, but it is fewer clicks. I'll leave it as it is, since someone will probably have to come and investigate this comment. Well, both of them. 

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It's interesting that this wasn't investigated, either. I've already passed comment on why I think only some posts from last night were approved and others weren't. Because I also know that the option to just click delete is there.

That suggests that.... you know. I'll figure it out. I have two weeks. I'm smart.

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  • 2 weeks later...
On 3/3/2023 at 2:55 AM, adrian_success said:

At first glance, determining the correct price for your Fiverr Gig can seem puzzling. For Sellers starting out and others looking to “up their game,” it can be a challenge to be both competitive and still ensure that you’re paid fairly for your work.

For a Buyer to build a sustainable presence on Fiverr, it’s essential to understand and balance all the relevant factors, including your overhead—that is, expenses incurred in delivering your particular gig, including Fiverr Transaction Fees— and incorporating useful options such as tiered packages and Gig Extras.

We’ve developed guidelines that will help you navigate the basic strategies and the tools at your disposal. In this article, we’ll look at two of these factors: Evaluating Your Competitors and Considering the Fiverr Transaction Fee.

 

By looking at successful Competitors with similar gigs, you can determine an average price for the type of gig you’re creating.


image.thumb.png.6b2ea8f0e83de3355685887a5c6d8450.png

 

As unique and talented as you may be, you’ll likely have hundreds, if not thousands, of competitors on Fiverr. That might initially seem discouraging—how can you stand out in a massive crowd? When researching Top Rated sellers in your category, you'll begin to recognize specific patterns.

  1. Clear, customer-centered profiles and descriptions: One of the most important rules to success on Fiverr: don’t simply tell people about your accomplishments—explain how your talents and experience can help them achieve their goals. Even if you’re new to the platform, the experience you offer means that you will understand the needs of your clients.
  2. The most highly-rated Sellers and Gigs are always delivered on time, prepared with care, and delivered with respect. Read the reviews of your competitors and learn what buyers appreciate: Attention to detail, care for the needs of the client, on-time or early delivery; and
  3. Fair Pricing: Fair doesn’t mean cheap! The most successful and sustainable gigs on Fiverr offer pricing that reflects the value of the work. Pricing a gig too low reflects negatively on the perceived quality of the gig. Likewise, pricing too high will turn off many start-ups and individual entrepreneurs who love our platform. Evaluate the pricing of gigs similar to yours and price accordingly. Buyers expect professional quality and are willing to pay reasonably for it. 
     

image.thumb.png.4e52938470cf22e7ebb2dd78199fd609.png

 

You should also take into account the Fiverr Transaction Fee.

One of the most significant advantages of Fiverr-based work is access to a worldwide network of buyers, a responsive and engaged customer support service, an extensive marketing program, and the robust protection provided with each transaction. Fiverr makes it possible for you to focus on what you do best while we take care of everything else.

When you price your gig, always keep in mind the bottom line. Fiverr subtracts the 20% transaction fee from every financial interaction with your Buyer, including tips. In determining the price of your gig, keep in mind what you’ll receive for each gig after the transaction fee. For example, if a gig is $50, you’ll receive $40. If you price your gig at $60, you will receive $48.

In the following article, we’ll take a look at tools that can motivate a buyer to purchase your gig, like tiered packages and added-cost extras, allowing you to keep the basic price low and attractive, while offering the buyer the ability to customize the Gig to fit their needs. 
 

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Really Informative!

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Please stop selling your time and skills for $5-$10!!

A low price, or a competitive price, as you may call it, will not help you if you provide low-quality service. Believe me, your customers will come back to you even if you charge double, as long as you do your job as promised.

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While price is a significant factor in the market, it's not the only factor that determines a product or service's success. Here are some other crucial factors to consider:

1. Quality: Offering high-quality products or services is essential to building customer loyalty and reputation.
2. Innovation: Staying ahead of the competition through innovation and continuous improvement is vital.
3. Customer Service: Providing excellent customer service builds trust and encourages repeat business.
4. Branding: Developing a strong brand identity helps differentiate your product or service from others.
5. Availability: Ensuring your product or service is easily accessible and widely available is crucial.
6. Customer Experience: Creating a positive customer experience through user-friendly interfaces, easy returns, and more is vital.

However, it's a bitter fact that price is often the major catch for your first interaction with a client. Despite the importance of these other factors, price remains a critical consideration for many customers, and it can make or break a sale.
 

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