After my last post, many of you commented that you were looking forward to hearing my Fiverr review. I hope this gives you some insight into how it works, and maybe you’ll find it worth trying!
Although I’ve known about Fiverr for a while, I had never considered using it myself until my challenge to earn $2k in 2 months through side hustles. About 2 weeks ago, I decided to join, and within a few hours, I had received my first order. I’m happy to report that so far, it’s proving to be a good resource for a little extra income.
Update: I’ve now been using Fiverr for freelance writing work for 4 years, and it’s become an excellent source of income!
How Fiverr Works
As the name suggests, every “gig” being offered on Fiverr is listed at $5.
I know, I know- this sounds terrible, right? How can you make any money if you’re working for $5 a pop? Don’t worry- you do not have to work for this low rate for long! Read on…
Setting Up a Gig
If you’re a seller, you simply “Create a gig”, spelling out exactly what it is that you are willing to do for a base fee of 5 bucks. You can come up with just about anything, so if you have a talent or a skill that you want to make money from, it’s worth offering and seeing if you get some bites.
There are so many services that you can offer as a buyer- virtual assistant, graphic design, freelance writing, etc. What’s so nice is that you can make a very specific gig. For example, maybe you excel at making cool Pinterest Pin graphics. You could offer a custom Pinterest pin graphic.
Figure out what you really enjoy doing and can do quickly. That’s what will help you to earn more and make the most of your side hustle gig.
Eventually, you can see analytics on how many views your gigs receive. You can add tags to each one to help buyers find them through the search function.
Now, how to earn more than $5 for you a gig.
You want to structure your gig so that you offer the minimum amount of work for that base rate.
A buyer will check out the details of your listing, then send you a message with questions, or simply place their order. You get an email from Fiverr letting you know that a message or order has come in. Easy!
What “Gigs” Should You Offer?
If you’ve thought about selling on Fiverr but were intimidated by the sheer number of sellers already there, fear not!
There are hundreds, probably thousands of things being sold, from writing services to tangible items to illustrations to web designs to logo designs, etc., etc.
There’s even a category for bizarre stuff, like someone who will write a message in the sand on a beach, or someone who will be your “mystery girlfriend” on facebook. Yep, it can get pretty weird browsing through gigs!
I started by creating a listing for web content services. You have plenty of space in the description to state exactly what you will offer a buyer, and you set your turnaround time.
Not interested in freelance writing? No Problem!
Don’t just think of Fiverr as a place to offer writing services. The options are endless for what you can offer. Consider the skills you have, the knowledge you can share, or talents you want to monetize.
After I made my first gig, I got an inquiry within a few hours and had several orders right away. You can modify your gig at any time, which is great because I have already gone in and modified my offers multiple times over the years.
As you begin to get good reviews, you can increase your prices. Don’t sell yourself short.
Pros and Cons of Fiverr as a Side Hustle
Fiverr definitely isn’t perfect, and no one is going to get rich off of offering “gigs” for just $5 a pop. The fixed pay rate is so low, which is a big con for any freelancer. Fiverr takes a 20 % cut.
This is why you want to offer the bare minimum for your basic gig once you get established. After you complete a few orders and get positive feedback, edit your gigs to reflect the rates you want to charge.
The 20% that Fiverr takes off the top sounds like a lot, and it is! However, they’re bringing you a huge pool of potential buyers. The whole system is simple and secure, so you don’t have to worry about not getting paid each month.
Another good feature is that once you achieve a certain number of sales, you can add “extras” on to your gig. So you can say, “I will do X for $5, add $5, $10, $20 for additional services.
A lot of sellers offer an expedited order for an additional fee. This is really where the money is to be made, in the extras. If you can turn orders around in 24 hours, you can find buyers willing to shell out for it.
One of the potential problems is that the very nature of a $5 service attracts some demanding buyers with high expectations, many of whom try to take advantage of the services being offered. I have unfortunately encountered this kind of buyer, and the Fiverr forums are rife with complaints from other sellers. I have no problem telling a potential buyer “thanks, but no thanks.”
You will want to get away from these types of buyers fast. I trust my gut when a buyer contacts me and if I don’t think that the job is right for me or the buyer is a good fit, I turn down the job.
- Easy to use
- Opportunities for all types of skills
- Buyers come to you, so no need to spend time cold-pitching
- Good platform to build long term relationships with repeat buyers
- Practically guaranteed payment for your work
- No need to create invoices and chase down clients to receive payments
- The payment system is convenient
- Scale up your pricing once you’re established
- Fiverr takes 20% of earnings
- 2 week waiting period for payments to clear
- You may encounter unrealistic buyers
- Not all gigs will be accepted by Fiverr
- Takes time and effort to get established and scale up
The payment process is a little unusual. There’s a waiting period on each payment, which from what I understand is up to 14 days. Once the payment is “cleared”, you can cash out to your PayPal, with no minimum. Another downside is that you pay the PayPal fees, so there go a few more cents from your bottom line.
If you don’t need the cash that you earn immediately, the payment system shouldn’t be an issue.
Overall, I’ve found Fiverr to be a great side hustle. I enjoy what I do, and I’ve raised my rates to a level that I’m comfortable with.
I absolutely love that I don’t have to go out in search of freelance writing clients. They can find me and we both enjoy the security that the Fiverr platform provides.
Don’t expect to make Fiverr your main moneymaker, at least not right away. Do look at it as something fun that you can try out. It’s just one more platform you can use to bring in extra cash each month.
Have you tried using Fiverr yet, or will you give it a try now?