Making Money

Published on December 28th, 2013 | by Daniel

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How to Make Money with Fiverr

The website Fiverr is perhaps one of the most well-known marketplaces for freelance jobs online. I use it a lot to outsource simple tasks like social bookmarking, logo design, translation services and simple content generation. Every task costs only $5 dollars, of which the seller get $4 and Fiverr takes $1.

I know some people who are active as sellers on Fiverr and make a good living out of it, despite the fact that the site runs on the principle that a seller only gets $4 for each gig. The secret of top-sellers is that they can complete their gig efficiently and quickly, while the buyer cannot. It depends on the nature of the job how they do this. For instance, web developers or translators have this advantage through their skill level. Another example would be a seller that has self-programmed software to automatically build links for you – although I would advise against the use of this if you are serious about SEO.

If you interested in making money online by freelancing through Fiverr, the first things you should ask yourself are:

> What is my skill that I can sell online? (i.e. translation service)
> How can I complete tasks efficiently and quickly? (i.e. can I automate the process?)
> How much time per day can I spend on it?
> What is my price? (what am I willing to do for $4?)

To calculate your price you can also look at the market (i.e. other sellers on Fiverr). For instance if you are a translator, look at your competition how many words they will translate for $5. This will be your benchmark.

Of course the most important thing when you start out is to get noticed and to get a track record. So  when your competition translates 300 words for $5 on average, you should offer 400 words when you start out. Otherwise the customers will mostly go for those with a track records and good feedback. After you getting good feedback you will be able to raise your price or lower the amount of work you are willing to provide.

That said, the main thing that will make you the most money on Fiverr are the upsell opportunities. $4 is not that much so it is more interesting if you can supply an extra service with the gig you are offering. For instance, what many graphic designers do is that they will provide a logo for $5 but then provide you the source file for an extra $10.

There are people who upsell a gig to $500 per day. This way Fiverr can be a good money maker. Fiverr will enable you to create upsell opportunities once you get a certain reputation and have finished a certain amount of gigs. This is represented by the network as levels. For instance, when you have completed at least 10 gigs and are present on Fiverr for more than 30 days, you will get to “Level 1”. This enables you to sell 2 extra services with your gig.

So eventually, the key in making money on Fiverr are giving the right answers to the following:

- What is your specialty and how can you do this efficiently?
- What are your upsell opportunities?

The answers are specific to your niche and your skills. Also, try to be efficient. It can be demoralizing if you work for half a day and you only get $4 for it 2 weeks later.

If you grow your customer base you can also more easily cross sell gigs that are related to your original gig. It is beneficial to be creative with this. How can you use you skill to provide innovative services? This is the key.

When someone gives you a bad review try to find out the cause for it. Why was the bad review given? Maybe you can salvage the situation and was it only due to communication problems. If in your view the negative review was false or grossly unwarranted, you can ask Fiverr staff to remove it. Obviously, taking care of the feedback yourself is the more optimal solution.

Making big money with Fiverr may seem like a long shot at first, but when you start to grow on the network it can become interesting. It is also a good stepping stone for more long-term freelance engagement, whether direct or through other networks as Odesk or Elance.

Lastly, some tips to make sure your gig will get a good amount of orders:

- Look at what your competition is doing, and copy the best elements.
- Absolutely no typos in your gig description (I see this way too many).
- Your gig title should represent the essence of your service, while pointing its advantage over the competition at the same time.
- In your description, come across as trustworthy and professional. No vague conditions. Make it easy for the buyer to order, and tell them you will take care of the rest.
- Use a good picture. Crisp and sharp. If it is a personal business (i.e. copywriting, translation) it is best to use a personal profile picture. If you have a visual oriented service (i.e. design), show examples of your work. Show videos if your produce videos etc.
- If possible, show examples of your work.
- Always react as quickly as possible to inquiries and orders. Tell them you received their order and will start working on it.
- And of course good reviews are key. Especially with regard to your first customers – but actually always: underpromise and overdeliver.

Most importantly, like all online endeavors, see it as a business and you will get business.

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