Pricing Competitively on Fiverr

[adrian_success]

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.

 

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. 
    

 

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.