Fiverr: Why Is It Great for Online Entrepreneurs?
By now you’ve probably at least heard of Fiverr, the website where people do crazy things for just five bucks. It’s an amazing site with huge potential, but it occasionally gets a bad rap from both buyers and sellers. More than just a cheap source for articles or backlinks, or a fast way to make a buck or two, Fiverr is great for online entrepreneurs if you’re able to think outside the box.
At First Glance, You Get What You Pay For
If your only reason for using Fiverr is to cheaply outsource articles or backlinks, or videos or graphics, or whatever it is you’re looking for, then you’re being extremely shortsighted. If you’re willing to hand $5 to one freelancer after another to crank out a product and you don’t care who it is, don’t give them any guidance, and don’t communicate, then you’re going to get a product that, at best, is only worth $5. Which means it’s going to do very little for your website in terms of reader engagement or conversions.
You also need to look at things from the seller’s standpoint. Without going into any great detail about Fiverr’s interface, there are two things you should consider:
The Seller Only Makes $3.92 Per Gig: In order to produce enough work per hour to make it profitable, or feasible, to provide a service on Fiverr, the seller has to deliver multiple gigs per hour. If you’re one of those buyers who antes up once and then jumps to the next cheap content provider you can find, the seller is going to do the bare minimum to make you happy. And trust me – sellers know the difference.
The Seller Must Deliver On Time: In order to maintain a good rating the seller must deliver each gig on time. Once the seller reaches a certain rating buyers are allowed to place multiple orders. If you, as a buyer, order 24 articles, or images, or videos, then the seller is going to have to deliver all 24 products, all at once. Even if you only order eight, if there are others ahead of you for delivery that same day, that seller is still going to have to crank out 24 products. Can you write 24 high-quality articles in one day? Of course not. So why would you expect anyone else to, no matter what you’re paying them?
But It’s What’s Under The Hood That Makes The Difference
As I said, though, Fiverr is an amazing site if you can learn to think outside the box. Top-sellers make thousands of dollars each month, and many conduct all of their business solely on Fiverr. Webmasters who understand the value of outsourcing and the importance of building relationships with providers instead of flitting around from one cheap provider to another have found some extremely talented, long-term business partners at Fiverr. The site is about so much more than a hasty $5 transaction.
Buyers Can Discover New Talent
When you’re ready to start outsourcing your content it’s understandable that you’re going to be concerned about costs. But at some point you’re going to have to consider your return on investment. Filling your blog up with 50 or 60 posts that only cost you five bucks each sounds great – until you realize that you just spent $300 on content that isn’t engaging your audience because it’s, well, cheap content. That’s where Fiverr comes in to play.
Use Fiverr as a source to find quality content and service providers. Go ahead and try out two or three, or more if you’d like. But only order one or two gigs from each of them to test the waters. And then start narrowing down your selection until you find the best provider for your business.
Communicate with the sellers. Don’t just hand them a keyword or a color palette and say, “Here. Have at it. Show me what ya got.” If you want content that’s going to work for your blog then tell them what you want. Trust me. They’re not going to share your secrets.
Most of the sellers make their money off of the gig extras and back-end orders – not those $5 gigs they have listed at Fiverr. Think of those gigs as sample work they’re doing to introduce you to their business. When you find a provider you like, look at his extras or ask him about rates for long-term work or bigger jobs or more specialized content.
If you’re going to use Fiverr solely as a source for cheap content, then don’t expect any more than that. But if you’re ready to seriously start outsourcing some of your work, then Fiverr is the perfect place to start because you have so many providers allowing you to sample their wares at bargain-basement prices.
Build Your Own Business
One of the biggest attractions about Fiverr is also the cause of a lot of complaints. The guys behind Fiverr are marketing maniacs. Go ahead. Build your own beautiful sales-page and push it out to all your social networks and you still won’t see half the sales you’d see with Fiverr. The site gets tremendous exposure and even first-time sellers with brand-new gigs can start seeing sales within an hour or two.
Fiverr provides the platform and mountains of promotion, and in exchange they keep $1 of each $5 transaction. Some sellers call this highway robbery. The idea that Fiverr is making 20 percent off of each of their sales seems appalling. But it’s not. It’s just a cost of doing business. Like I said, go set up your own salespage if you’re unhappy. See how many gigs you book without Fiverr backing you up.
Of course, the sellers who are able to think outside the box don’t give this $1 transaction fee a second thought. They’re too busy building a successful Fiverr business and they’re raking in the dough.
If you’re going to be a seller on Fiverr then you need to stop thinking in terms of five dollar bills and start basing your production on that $3.92 that you’ll get after Fiverr and Paypal fees are paid. At $3.92 each, how many gigs will you have to deliver each hour to make the money you want to make each day? And here’s what it really boils down to…
Let’s say you work eight hours a day and you’ve determined that you need to deliver four gigs per hour to make the income you want. Now – What can you deliver in 15 minutes? And remember: The better your quality, the more repeat business you’ll attract, and the more back-end business you’ll be able to build.
The key to selling successfully on Fiverr is to only promise what you can deliver in the allotted amount of time, and to deliver your best quality product to each and every buyer. Don’t worry about what you think will attract the buyers. The buyers will find you, no matter what, thanks to Fiverr’s promotion.
That said, you might be wondering how many buyers would be interested in paying five bucks for a 350-word article, a 30-second video, a 125X125 banner ad or a pretty necklace or bar of soap. The answer is: Plenty!
As a seller you can offer these small services because nobody thinks twice about spending five bucks. Some buyers come to Fiverr for entertainment, just to see what they can get for five bucks. Others, looking for long-term providers, are willing to pay $5 for a small project just so they can test your product or service. These are the buyers who’ll be looking at your gig extras and your back-end offers, where you can make additional profit and build long-term business relationships.
Fiverr is great for online entrepreneurs who are able to understand the value of a five-spot, the value of time, and the value of building long-term business relationships.
Whether you’re a buyer or a seller, it’s important to look at that initial five dollar offering as a sample. As a seller, you’ll want to make it the best sample you can to promote your gig extras and back-end offers where you’ll really make your money and build long-term relationships. And, as a buyer, you’ll need to understand that it is, after all, just five bucks. If you liked the sample and now you want the whole enchilada, then maybe it’s time to start building a relationship.