So you want to know how to make REAL money on Fiverr? In this post I’m going to tell you how I turned $200 per month in Fiverr revenue into over $1,000 per month in revenue outside Fiverr.
For those who don’t know what Fiverr is, it’s simply an online marketplace where people buy and sell all kinds of services – but for $5.
Sellers can also offer “extras” on top of their orders which can sell for up to $50 and your buyers can order multiple gigs and extras. Sellers may also offer custom orders for customers to meet specific needs or a certain price range.
Here’s the problem with Fiverr; for every $5 you earn on Fiverr, they keep $1.
So If you earn $50 on an order, you only get to keep $40 of that. On top of that, Fiverr charges you processing fees for withdrawing your earnings, meaning that $50 you worked so hard for is now only $38.
Now you may consider that an okay amount of money. But, the majority of buyers on Fiverr are there because almost everything only costs $5 which is all they’re expecting to spend.
It’s actually not that common to get many orders of more than $5 or $10. Now that depends on how juicy your offers are and if you have A LOT of good reviews already.
I personally don’t see a long term “endgame” in Fiverr, and it’s definitely not going to make anyone their first million. It IS however a great way to get the ball rolling for your online business.
You can easily earn an extra $300 per month through quick and easy gigs like I do with minimal effort. If you want to learn how, I suggest you get this eBook.
It’s the same one that taught me all I needed to know to get income on Fiverr. It’s only $17, which I made back in the first couple of days after buying it. Here’s a snapshot of my analytics the first month after implementing the eBook.
If all you want to do is make a couple hundred extra bucks a month, then read no further, you’re done with this post. I just gave you a link to the holy grail of Fiverr guides, go get started.
For those who want to make something more, or are already set up on Fiverr and have hit a wall with their sales, please read on.
So after being on Fiverr for a few months, I realized that my sales were no longer increasing. I tried pretty hard to push them further, implementing extra tactics and experimenting with the gig text to increase conversions, but it had a minimal effect.
I was pretty bummed.
But I’m a problem solver, and I started thinking how I could turn this situation around. It was then that something struck me;
I have a huge list of happy customers on Fiverr who already trust me as a seller. All I need to do is offer them something they want.
So I got to work thinking of what I could offer them.
I started out thinking maybe I could create my own product, or even sell affiliate products to them. The problem with that is that it’s a one off sale and there’s only so many different products you can sell to those who are interested.
What I really wanted was reliable, monthly recurring income.
I had a list of around 200 happy buyers, but I knew not all of them would be interested or even bother responding. Whatever I was selling would have to be significant enough to justify being sold to such a small market.
I also had to be selling something relevant. If they had bought a voiceover gig from me, then I went to sell them business cards, it wouldn’t make much sense would it?
At the time I was mainly selling SEO related gigs. Keyword research, SEO site analysis and bookmarks were all on my list. I decided that I would sell SEO services – Bambu SEO was born.
So I put a proposal together; a generic message that I could send to everyone who had ever ordered an SEO related gig from me in the past.
The offer was along the lines of;
“Hey [customers name],
You ordered [name of the gig] from me a little while ago and I was wondering how you were getting on with your site’s SEO? I just wanted to let you know that I’ve started offering SEO services through my business http://bambuSEO.com, let me know if you’d like to discuss the possibility of me managing your SEO for you. If not don’t worry, and I wish you the best of luck!
It didn’t take long for me to get some responses. I answered back and negotiated deals with each of them.
The result was around $1,000 in new, recurring, monthly revenue.
Now obviously, it costs me time and money to actually provide the services so the take home “profit” is less than that.
But now I had a solid foundation to build my SEO business on.
Shortly after that I added a standard message to my Fiverr delivery text and included it in most of the gigs I delivered to help attract new clients.
This was effective for several reasons;
That’s basically it, that’s how I did it. You can try doing the exaclty the same thing, the market is big enough, but you should consider offering simple services first, then later offering an upsell to sell your higher value service.
You can offer the higher value service through Fiverr, but as I said at the start of this post, they take 20%. I would recommend making a site of your own outside of Fiverr to sell on, that way you keep all of the proceeds.
You won’t make millions on Fiverr itself, but you can leverage it to make money elsewhere.You won't make millions on Fiverr itself, but you can leverage it to make money elsewhere. Click To Tweet
So, now that you know how to make money on Fiverr, what are you waiting for?
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