Fiverr is a global freelance marketplace with tens of thousands of services. Many offers start at five dollars but can increase the price of different packages and add-ons, for example additional options. Major service categories include graphic design, digital marketing, business, copywriting, translation, video, audio, coding, and more. Fiverr completes its freelance pole with AND CO (invoicing software), Elevate (discounts for partners) and Learn (online courses).
Fiverr makes money by keeping 20% of seller service fees. For example, if you price your service at $20, Fiverr will keep $4 and you will get $16. It also derives revenue from subscription fees (AND CO) and course sales (Learn). It shares revenue or collects fees through third-party product and service agreements (Elevate).
Fiverr started out as one of many “it” websites for making money online. However, until the mid-2010s, it seemed to lose steam. Many unskilled freelancers have jumped into the Fiverr gold rush, but they have only provided shoddy work. Many sellers have offered “product reviews” with the intention of providing fake reviews to mislead customers on other websites, including Amazon. In addition, Upwork, a competitor, was born in 2015 from a merger between Elance and oDesk.
Fiverr emerges victorious. It has revised its quality standards and ended its collaboration with thousands of dubious sellers and services. She launched Fiverr Pro to offer “exceptional, verified talent, hand-verified for exceptional quality and service.” Many Fiverr Pro sellers charge prices in the thousands of dollars. Fiverr has risen above many of its competitors, making it a two-company race between itself and Upwork. In 2019. Fiverr became a publicly traded company. Given Fiverr’s move into an increasingly remote business landscape, it’s a legit website for making money as a full-time freelancer or part-timer.
How to make money on Fiverr?
There are three promising ways to make money on Fiverr, namely Seller/Freelancer, Affiliate Marketer, and Instructor.
As a seller
Sellers on Fiverr sell services, from voiceovers to business card design to president impersonations. Therefore, the first thing to consider is what you are going to sell to make your customers happy (high customer satisfaction can attract repeat orders). A great place to start is to review your areas of excellence and skills. Suppose you are good at and love graphic design. You could search Fiverr’s “Graphics & Design” category and more than 30 sub-categories to identify market opportunities and gaps. I recommend that you play to your strengths and professional experience first. You will be able to diversify and experiment with different services afterwards.
Over time, you can earn four to five figures a month on Fiverr, and millions aren’t out of the question. Moreover, Fiverr Pro sellers make a lot of money because they can charge hundreds or thousands of dollars per gig. Setting rates that will attract a steady stream of buyers is key to keeping your project pipeline full. Some sellers make the mistake of putting themselves out of business, for example, can one justify a price of $1,300 for a logo design when another seller will do it for $10?
Can you make money on Fiverr without skill? No. As a freelancer, like in any profession, you need to have skills to make money. Even if you only list a service to outsource (service arbitrage), you will still need project management, management, and organizational skills to complete your assignment.
