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Global online marketplace Fiverr lets people offer products and services for $5 a pop. Since Fiverr’s foundin...
Global online marketplace Fiverr lets people offer products and services for $5 a pop. Since Fiverr’s founding in 2009, it’s become one of hottest websites for non-traditional or alternative sources of income.
While it may not sound like a lot of money, five bucks is still five bucks, though after you subtract Fiverr’s 20% fee, which is much higher than what many freelance sites take, you’re only left with $4 per job or “gig.” oDesk and Elance, two of the top freelance outsourcing sites, have comparatively small commissions of 10% and 6.75% - 8.75%, respectively.
There are advantages to the $5 per gig system, though. There’s no haggling, and you can’t be undercut by someone offering the same service for less. Plus, the $5 price tag is really just a springboard to bigger and better things.
Find a niche: Discover a way to set yourself apart from the crowd. Don’t just offer something that many other sellers already provide. This may be a wholly unique product or service or simply an individual twist on a common gig offering.
Create/fulfil a demand: Supply a “Thneed,” which, according to Dr. Seuss, is “a-fine-something-that-all-people need." This is easier said than done and perhaps one of the challenges of any business, but at least Fiverr provides a simple, out-of-the-box platform so you can concentrate on your ideas without having to worry about the logistics.
Make a video: Buyers seem to love videos and it has become a Fiverr “thing.” Gigs with video explanations get a lot more views than those without.
Outsource: Are you a business owner rather than a worker? You can take advantage of Fiverr’s massive ad hoc work force and delegate specialist jobs, grunt work, or small tasks.
Promote your gigs on social media: This tip is a no-brainer. Tweet your gig (with relevant hash tags) and put it on Facebook, Google+, etc., to maximize exposure.
Keep at it: Once you complete 10 gigs you can increase the price of your gigs by adding on extras and that $5 gig could turn into a $500 gig.
Stay active: If you forget about Fiverr, Fiverr will forget about you. This means your gig will be suspended if you are inactive for too long.
Diversify: Add a variety of gigs in order to cast a large net and catch more fish. I’m not saying you should become a Jack-of-all-trades; it’s great to have a niche and specialise (people will think they are hiring an expert rather than a handyman) but branch out a bit, preferably within a given field. For example, if you’re an artist, offer sketches, graphic design, logos, caricatures, etc.
Make an experimental project: Remember that girl who had 40 people from 25 countries Photoshop her picture to make it beautiful according to local standards? Conducted via Fiverr, her experiment went viral and was featured on news sites around the world. If she only paid $5 for each Photoshop treatment, that’s a layout of only $200 for a massive international news story.
Got any other tips to make big bucks on Fiverr? Share them with us in the comments section!