Afraid about increasing prices|Top-rated requirements completed

[sunnykingkoh]

Hello,
I hope you all are doing great!

I have completed top-rated requirements a few months ago but have not nominated for that badge yet. I am thinking to raise my top-selling gig’s prices but I wanted to take advice from the senior members of this community based on their experiences about raising the prices.

Why I am thinking to raise my prices:
The reason why I am thinking to raise prices is that I feel my work/skill worth more than what I am charging now. I am offering the same services on another platform too and people there are completely fine and satisfied with almost 5x than what I am charging here. One other reason that I feel I should increase my prices is that many times buyers place the direct order and their work’s scope is higher and then it takes a lot of time to explain to them and ask them for extra and sometimes I also have to do that work for the low price in order to keep myself safe from bad ratings or from the negative effect on orders completion rate.

My fear and advice that I am seeking for:
But I am a little afraid of “what will happen after”. The situation is that my gig is ranked but sometimes there is a good workflow, potential clients do contact and then I convert them to my buyers as much as I can but sometimes the work becomes slower so, therefore, I am little confused that either increasing the prices would be a good decision or not? What if my gig got de-rank? Another big question that arises in my mind is that, many other people offering the same services and also have good ratings but have low prices and when I will raise my prices then why people will buy my services? To prove to them that I charge more because I give better services, communication, and customer service I would have to at least communicate with them. But I would not be able to prove this if they do not message me and only compare my prices and reviews with others’ prices and reviews and decide to message or order base on those two parameters.

I have 1k+ reviews on my profile from which 900+ are on my top-selling gig and this is the gig about which I am thinking to raise my prices. I have read other similar posts on the forum but I wanted to know advice according to my case/situation.

I will look forward to hearing from you.
Best regards,

[looseink]

I have increased my rates on average, twice a year.

Costs go up.

My internet is no longer what it used to cost.

The software updates on my computer are not free.

The overall cost of doing business continues to increase, and so should your rates.

[benedictrm]

The thing is if you can sell your service for $500 in place A and stay busy, why be in place B where they will only give you $100 for the same or more effort?

Now I understand it is hard to stay busy in any one place (and may not even be a wise strategy) but still, one job at $500 is usually worth more than 6-7 at $100 so being the higher price that you have proven you are worth just makes sense. Yes it may make you less busy here but that is more time to be earning real money from real clients.

Fiverr is known for “bottom-feeder” clients so a) be sure you prove that your $500 Gig is worth it (to those who understand) and b) either phase out the $100 people or offer a lesser service for them.

If you do the latter it needs to be clear that this is going to be good work but not the same work as if they paid for what Seth Godin calls “the real work” to be done. I saw an art gig here yesterday where in one image she showed what results for each version of her gig would return. Winning.

Bottom line value yourself to be worth more than people who choose not to value you (as they will if you let them). Easy to put on a Meme, harder to do but you have the foundations.

[sunnykingkoh]

You are right but if we see here on Fiverr, most of the competitors rates remains lower then should we keep our rates lower too?