They say everyone has a price and at Fiverr.com that price is a mere 5 bucks.
Not 10 bucks. Not 6 bucks.
Fiverr.com has been around for a few years now and it bills itself as:
The place for people to share the things they’re willing to do for $5.
And you’ll find that people who make money online with Fiverr are willing to do all sorts of things for a fin:
- They’ll send Tweets to thousands of Followers
- They’ll have thousands of people like your Fan Page
- They’ll write 1000 word articles
- They’ll design your new business logo
- They’ll cartoon-ize your photograph
- They’ll install software and write programs
- They’ll record videos and sing Happy Birthday
And that’s only the beginning. The deeper you dig on Fiverr.com the crazier the offers become. Someone offers to speed write your message in lipstick on the bathroom mirror and take a digital photo. Someone else offers to write your message in lipstick on her bum and take a digital photo. Then there’s the guy who offers to read Dr. Suess stories to your kids via Skype.
How do these people make money? In fact, a better question might be – DO these people make money? Let’s take a closer look and see what it takes to successfully make money online with Fiverr.
You can only charge $5 for your service
These days, a five dollar bill won’t go far and that’s the reason the whole Fiverr concept is so successful. Nobody thinks twice about spending $5. In fact, some people go to Fiverr just to see what kind of entertainment they can get for a finske. Hence, the woman who’ll write your message in lipstick on her bum! She’s successful because her product is pure entertainment and at $5 a pop, nobody is going to argue about the price. Heck, a greeting card costs more than $5 these days and she’s willing to write your message on her bum and send you a picture!
But you also need to be realistic. You can only charge $5 for your offer so you need to look at it like a business person and remember that Time Equals Money. If you’re offering to design a custom website for someone for $5 and it takes you a full 8 hour day to get it done, then you’ve earned a whopping 62 cents per hour. If you’re offering to write a 1000 word article for someone and it takes you 3 hours to accomplish it, you’ve earned a grand total of $1.66 per hour.
On the other hand, if you come up with a great idea like writing messages on your bum and taking a picture, then you’re probably going to be able to earn $50 or $60 an hour. Assuming, of course, you use washable ink and you write really fast. Oh, and that you also have a nice looking bum!
You have a lot of competition
Obviously, as in the case of the lady with the bum, people are willing to do all sorts of things for $5 so you have to be creative so you can stand out from the crowd. But you also need to know the audience. Taking pictures of your bum is a creative approach, no doubt, but most of the people who actually pay for services at Fiverr repeatedly are looking for professional services, such as writing, design work, advertising and promotional help, etc. While the lady’s offer is attractive, it probably won’t provide a steady, long term income. Which leads us to the most important point of all…
Use your Fiverr gig to generate an upsell
Let’s face it, it takes a lot of 5 dollar bills to pay the rent each month and no matter what kind of unique idea you come up with, you’re going to be very busy trying to earn a living at 5 bucks a pop. At $5 per message that woman is going to have to photograph her bum 20 times just to earn $100. So your Fiverr gig should only be the opening ball, so to speak, and you need some form of boosting: for example, following it up with an upsell.
For example, let’s say you have some graphic design skills and you want to start making some money online with Fiverr. You could advertise a gig where, for $5, you’ll create an attractive button package for a website. Your package might include a Buy It Now button, a Follow Me On Twitter Button, a Friend Me On Facebook button and a unique icon or two relevant to the website. All of that would be easy enough to create in just a few minutes times.
Remember, though, at 5 bucks a pop, you’re going to have to create that entire package of buttons 20 times a day just to make $100 each day. So your next step should be to create a more expensive graphics package to offer to those people who like your $5 Fiverr gig. For example you could offer to design headers and footers or banners for $25 or $30. Anyone who has use of custom designed buttons will also have a need for other custom graphics and if they liked your $5 buttons they’ll likely be interested in anything else you have to offer.
No special skills required
But what if you have no special skills and you still want to make money online with Fiverr? Everyone has some type of skill. Take a look through the gigs that are already listed and you’ll probably come up with quite a few ideas of your own. If not, all you really need is a digital camera, a tube of lipstick and some nice handwriting!
A lot of people make money online every day at Fiverr.com and it’s a great place to get creative and showcase your skills. If you really want to make some money with it, all you have to do is treat it like a business: Remember that Time Equals Money and your $5 gig is just your opening ball.