You’re probably thinking, given the wide range of different income possibilities on the internet, why should I bother with Fiverr? After all, it has a reputation for paying the least amount for the most intensive work.
You may be skeptical about making money off the platform because, after all, it made its name by requiring people to provide valuable services for the royal sum of $5 a pop. CLICK HERE to get Resource Book on How to Make Money on Fiverr.
But you might want to consider the following:
1. Massive Selection of Services
If you are going to make money off Fiverr in ways other than as a service provider, you need to have access to a wide range of services. Fiverr does that. It doesn’t matter whether you’re looking for graphics-related work, writing, research, virtual assistants, or data entry, Fiverr has all of these, and then some. In fact, it also offers traffic services and search engine optimization.
This wide selection is extremely important if you are looking to make money in a way that doesn’t involve you trading your time for money.
2. Great Pricing Diversity Among Service Providers
Not only do you get a wide range of services on offer, but the pricing for these vary tremendously.
I know what you’re thinking. You’re probably thinking that the cheaper services, by definition, are of lower quality. I can’t really blame you for thinking that way. After all, there’s a lot of truth to the old saying “you get what you pay for.”
But you’d be surprised. There are a lot of people from developing countries who are very educated, very eager and, most importantly, eager to please their customers who place projects on Fiverr.
Many of these individuals, although not all, crank out really high quality work for really affordable rates. In fact, if an American or somebody from Western Europe produced the same level of work, those people would probably charge 8, 10, or even 20 times more.
Fiverr also has very powerful offer filtration features so you can zero in on quality details, quality rankings, as well as pricing. You don’t have to click from one offer to the next to figure out hidden gems.
3. Tried and Proven Payment Platform with Solid Order Dispute Resolution Processes
If you’re going to be processing other people’s Fiverr projects and then reselling those same services in a bundled form on Fiverr itself, you are in luck. The same holds true if you are looking to offer value added services on this platform.
Fiverr has a very powerful payment platform so you can rest assured that you will get paid. If there is any kind of dispute, there is a robust complaint system.
Now, here’s a bit of a warning. If you are a service provider, you have to truly believe that the customer is always right. The good news is, the vast majority of people who order services on Fiverr are honest and trustworthy.
With that said, it can get quite disappointing and even upsetting when people try to pull all sorts of tricks. It’s not unusual for somebody to order your service, and after you’ve done an amazing job, they would ask for a refund. They know full well that they have you in a tight spot. If you don’t give them the refund, they give you a bad rating.
As you probably already know, if you have explored Fiverr before, ratings are what drives this platform. If you get too many bad ratings, very few people will see your ad. You will get fewer or no orders at all. That’s how sensitive the Fiverr platform is to ratings.
It is no surprise that a lot of service providers would automatically hand out refunds the moment somebody complains. They don’t even have to complain loudly. They don’t even have to have a major issue. But just to smooth things over and to protect that 5-star rating, a lot of providers on Fiverr instinctively give out refunds.
Keep this in mind if you want to be a service provider. This piece of information also comes in handy if you are a service buyer.
4. It has a Massive Base of Buyers
If you want to use Fiverr as a source of income as a service provider, this is amazing news. However, if you are also looking to offer value added or bundling services for Fiverr, this is even better news.
This is pretty much self explanatory. It doesn’t really matter how good you are at your craft, if nobody wants to buy your services, you’re going to starve.
Fiverr does its job well. It pulls a lot of buyers. Also, a lot of these buyers don’t just buy one type of service from one particular provider. They often comparison-shop.
The rates on Fiverr are so low that they would often buy from many different providers, pick out the best, and then order a lot from that person. Usually, they place a custom order for bulk orders. That’s how lucrative this platform can be.
Do yourself a big favor, if you really want to tap into this massive base of buyers, step up your game. Try to be the best in your field. If you are a writer, be the very best and fastest writer you know. If you are a graphics designer, come up with some sort of semi-automated system so you can crank out those designs quickly, on a volume level, and at a faster rate than everybody else.
If you focus on these goals, you can make quite a bit of cash on Fiverr because of its massive user base.
5. It Offers Tremendous Flexibility
I cannot emphasize on this benefit enough. If you are a freelancer or if you are a buyer that will convert the services that you get into a compiled form which you can then resell or use yourself, Fiverr offers a tremendous amount of flexibility.
It is a freelancing platform, make no mistake. People don’t hire employees off Fiverr. If you’re looking for a job, you can check monster.com for that.
But if you’re looking for freelance projects and you can compete with a lot of service providers in terms of price and quality, this is an amazing platform. Why? You pick the kind of work you offer.
Nobody’s going to point a gun at your head and say, “We know that you are a writer, so offer to write novels for the royal sum of $5 per 5,000 words.” They’re not doing that. It is totally up to you. You figure out what you’re good at and you create an ad. Pretty straightforward.
Next, you determine your price. This is a big deal because it gives you a lot of leeway. If it turns out that people will not pay more than $5 for the kind of service you provide, tough luck. You’re stuck with that price.
You can be like many people I know and think that their time is worth $5,000 an hour. They’re more than welcome to think that, but until and unless somebody actually buys your services at that rate, then the exact value of your service is just potential. It’s an imaginary number.
This pricing flexibility enables you to move with the direction of the market. If you notice that the demand is increasing, feel free to raise your prices. On the other hand, if you feel that you’re not getting as many orders as you would like, cut your pricing to the bone, and then scale up later once you develop volume.
Another reason why Fiverr delivers a tremendous amount of flexibility is that you get to pick the order you want to work on. You don’t have to accept all orders. You can put on your service description that people have to contact you first. If they don’t contact you first, you’re going to automatically reject the order.
This is a very powerful feature because, hey, let’s face it, you have all sorts of duties, responsibilities and obligations. You do have a life outside of Fiverr. You can make your work revolve around your personal life instead of the other way around. This is a tremendous form of flexibility.
Next, you have the leeway when to work. You can set up your deadline to as little as 24 hours or as much as 29 days. That’s a tremendous amount of leeway.
Now, keep in mind that the longer your turnaround time, the less orders you will get. Depending on the kind of service you offer, sometimes, if your delivery time is more than 24 hours, you can pretty much kiss any orders goodbye.
Keep this in mind. This is a warning. Just like with pricing, your delivery time must reflect the preferences of the buyers of the type of service you’re offering.
Finally, you have a lot of leeway on how you are going to do your work. Believe it or not, a lot of people who charge quite a bit of money on Fiverr actually turn around and outsource from somebody else. This is one of the best kept secrets of Fiverr. In fact, I’m going to go into this in more detail below.
However, this is a tremendous advantage for people using Fiverr. Nowhere does it say that you have to do the work yourself. You can outsource it, you can farm it out to many different people, then you can compile it and then sell it at a premium. Awesome stuff.
So keep the 5 key reasons above in mind if you’re still on the fence regarding using Fiverr as an online income source.
I know it’s very tempting to automatically focus on other income methods. They seem easier, they seem more flexible, and there’s also less likelihood that you will be trading in your time for money. In other words, they don’t feel like jobs.
But if you want a very powerful platform that is very flexible and versatile in terms of income opportunities, definitely take a long, hard look at Fiverr.