By now it is no secret that I am a huge fan of having multiple streams of income. Having more than one income stream is the best way to maximize the amount of money you earn each month. It also guarantees that you will have an income if you ever lose a job.
Over the last decade, the gig economy has made it easy to build new income streams while creating a flexible schedule. If you aren’t making money online, then you are seriously missing out on some easy money. You are also missing the opportunity to improve your skillset and try new projects!
In this article, we are going to explore the popular freelancing site, Fiverr. I will answer some of the most common questions and share some tips on how you can make money on Fiverr in your free time.
How does Fiverr work?
Unlike other platforms, Fiverr is geared to both the freelancer and the buyer. Freelancers can set up gigs on Fiverr where they offer a specific type of service. The buyer can view the gig and place an order if they feel that they like the project scope. The buyer pays for the work upfront through Fiverr and then waits for the delivered order. Once the order has been delivered, the buyer can easily receive their work and the seller gets paid through the Fiverr website.
In my opinion, this function is much more favorable for freelancers and buyers alike when compared to platforms like Upwork. Though I was able to quickly make $400 freelancing on Upwork, the effort is really on freelancers to find opportunities and apply for them. This can be very time-consuming and the platform only allows a certain number of credits to apply each month.
With Fiverr, you are able to put together pre-created offers and the work is much more uniform. There is also a visual element to the site that makes it easier to differentiate your services from the competition. If you put a little bit more effort into designing your gig then it will be easier for you to stand out.
How do payments work?
If you add a side gig to your life, you will want to make sure you can make money quickly. When I started my consulting business, I was surprised at how much time invoicing and following up on payments could take up. That is why I advocate for using gig platforms for any side hustles. Especially when the price point of your monthly transactions is under $500 per client.
One of the bonuses of working through Fiverr is that they process all the fees. This saves you both the time and the hassle of figuring out how to receive payments. When the order is placed, all of the money sits in an escrow account until you’ve submitted the project. This is an extremely useful feature for those getting started in the freelancing world.
The escrow account helps eliminate the fear that your client will skip out on paying you. It also saves you the time that it could have taken them to fulfill an invoice or that you spend following up. However, like most platforms, Fiverr takes a 20% processing fee for providing these services. That means that if you charge $10 for your services, you will only receive $8. This is something you should consider carefully as you set your prices!
Another small downside to this platform is that you have to follow Fiverr’s payment schedule. All funds for New Sellers and Level 1 or 2 sellers cannot be withdrawn until 14 days after the order was delivered.
This is one of the most popular questions about Fiverr! Like most things in life, it does take a bit of effort to get things started. Once you’ve set up a good system, it can be very easy to make money on Fiverr. Below are a few tips on how to make money on Fiverr.
1. Know what you want to do.
What are your skills? Do you like to write, produce music, or build websites? These are all services that can be offered on Fiverr. Deciding what you want to do is important because it narrows down your target audience. This is the best way to build a solid group of recurrent buyers. Note: Listing any specialized skills or areas of knowledge ca help you get buyers quicker!
2. Create a Gig.
Fiverr calls each service you offer to potential clients a gig. Start by creating 1-2 gigs where you can put most of your focus and energy.
3. Market yourself!
Marketing can be as simple or as complex as you want. If you are a beginner, then focus on having a great photo with bullet points highlighting your skills. Make sure you highlight what makes your service better than others (any degrees, years of experience, Fiverr rating, niches, etc.).
If you have a more high-priced service, it may be worth an initial investment to promote via ads. This is how you can get in front of buyers fast while and building your reputation as a new freelancer.
Some other fast and easy tips to get noticed on Fiverr
- Have a gig cover photo with your face on it – this shows who you are and helps buyers to trust you!
- Make your description friendly and informative – show your personality! Most people buy from people they linke and a lot of people do not put enough effort into their descriptions.
- Start your prices low – you can always increase as you gain popularity and improve your skill level.
It only takes a few minutes to set up your profile and you can be well on your way to starting a new side hustle. If you are interested in signing up for Fiverr, you can use my affiliate link to join. I only support businesses I believe in and it will not cost you anything extra to sign up using my link!
How to sell on Fiverr
The above tips are truly applicable to any gig platform, not just Fiverr. But one of the things that makes Fiverr extra exciting is that you can create shareable links to your gig page and promote your gigs on your social media. This is one of the most underrated parts of Fiverr.
If you want to supercharge your selling, I recommend using the search function on LinkedIn. You can easily create a prospect list to reach out to with your link. I’ve actually had someone reach out to me this way and was very impressed with how easy it was to check out their offerings. This goes beyond passive marketing and moves into the active selling territory! You can even try promoting your gig with your family and friends to get your first buyers on Fiverr.
It can take a bit of time to get your first order. Don’t lose heart! For most people starting out on Fiverr, it can take 1-2 weeks before you even a first message. The most important thing is to keep trying to promote and stay on the site! Once you start getting noticed, you will be well on your way to making money!
Of course, the most important question to ask is, ‘How much money can I make on Fiverr’? While most people are using the site to make additional income, it is actually possible to make a full-time salary on this platform.
Below are some people who built a great income on Fiverr:
- Levi Newman: Within the first month of being on Fiverr, he was making $800 – $1200. After feeling that he could pursue Fiverr full time, he started making between $10,000 and $15,000 a month. For most people, this is way more than their full-time corporate salary.
- Alexandra Fasulo: Within her first year of being on Fiverr, Alex made $33,000. With the help of services like Fiverr pro, she easily increased what she was earning. Now she has made over $1 million through Fiverr!
Fiverr has changed a lot since it was first created. To be honest, I thought it looked a little bit like a scam in the past. As you can tell by the name, the initial concept was to offer services for only $5. This really impacted the quality of services you were likely to receive and would also attract somewhat difficult buyers who only wanted a bargain. Over time, Fiverr has been able to change this business model and become a very reputable platform.
The beauty of freelancing on Fiverr
Starting out in the freelancing world can be intimidating. It can be hard to know how to market yourself and what to charge for your services. That is why Fiverr is a great place to get started! They are exceptional at helping budding freelancers build their careers. After all, they get paid when you do!
Their easy-to-use platform provides all the behind-the-scenes logistics to ensure you are making the most money you can and building good relationships with your clients along the way. Fiverr allows you the freedom to connect with buyers from all over the world and work on a wide variety of projects.
This tool is one that you should definitely consider to help you get into the world of freelancing and make you money. There are no limits to how much you can make through Fiverr so join today to work towards your first million!
Kathryn Rucker is a sales consultant and content writer. With 7+ years of sales experience, she is passionate about helping businesses and individuals grow their sales pipelines by improving their online presence.