Promoted gigs - Monthly spending cap vs. daily.

[texvox]

Howdy!

The promoted gigs feature has been working very well for me over the past few months, but I do feel that there is an opportunity to increase the efficiency of it from a financial planning perspective.

In my past professional life I spent a few years as a licensed financial advisor, and found that long-term and medium-term spending plans are far more efficient for overall financial planning on a personal and business level than shorter-term spending plans like weekly or daily budgets (tending to the garden's overall health vs tending to a single flower while weeds take over everything else, so to speak).

With this in mind, rather than a daily spending cap, I would love to see a monthly spending cap option for promoted gigs. This would enable sellers to more efficiently plan out their monthly expenses, leading to more predictable expenditures and more efficient financial management of resources. This is also much more in line with promotional advertising for your business outside of Fiverr, where pay-per-click ads are frequently built around a campaign budget, rather than a daily budget without a total ceiling.

While I know we can technically do this ourselves with a little math [desired monthly spend / # of days in a month] to come up with a daily budget number this creates an avoidable compromise and leaves something to be desired, since Fiverr will sometimes spend a huge portion of our daily budget and other days spend very little of it. 

Example:

If I want to limit promoted gig spending to $500/mo I could take $500/31 days and set my daily limit at $16/day. The problem with that is that I have frequently had days where Fiverr spends $30+ of my $50 daily allotment and successfully nets a ton of work. I wouldn't want those high-spending days to be limited by a smaller daily cap. A monthly spending cap would help me to control the total monthly spend without compromising and missing out on these high-spend/high-return days. Yes, eventually you would run out of monthly budget and promotional clicks would stop, but you could have more of your cake and eat it too without allowing ad spend to overwhelm your expectations.

My two cents. Yoav, I'd love it if you could forward this feedback. 

Edited May 10, 2023 by texvox

[spinnekop04]

Hi Texvox! I really love your idea! I am promoting my gigs with an auto cap as Fiverr recommends but I feel that the amount spent monthly overrides the sales generated from those promotions by a long shot. Also, it would be great if we have Q&A session on Zoom so sellers can ask questions and get insight to get the best out of their promoted gig settings.

[Yoav.M]

@spinnekop04 & @texvox - thanks so much for your mentioned topics here!

With regards to a pssible Q&A session for sellers on Zoom, assuming that we will be able to conduct it, what kind of questions would you like to raise? 

Please take into consideration that we need at least 10 questions to initiate such a session for you.