Hi fellow Buyers & Sellers, I am new to Fiverr and to the overall Online Marketplace thing.
Sad to say that my first sale experience with Fiverr has not been pleasant. Now, I understand that Fiverr has a fixed minimum price for a gig at $5 -Which I understand is an excellent approach to counter Price competition in the market.
But, and this I ask of all the Successful and seasoned Sellers/Buyers here, how to compete with someone who is driving volumes at the same bench-marked price of $5 and driving the overall market average down to below minimum wage levels ?
So, for example an average gig on PDF file conversion is $5 for 20 pages in 24 hours, I get a Buyer - and its my First Buyer - who has 700+ pages of PDF to be converted to Excel. I take a look at the PDF and give him a Quote as per simple maths - $5 for 20 pages , so it will be $175 for the complete 700+ page PDF converted to Excel Manually, but I will give a discount and charge just $150 for the entire thing with a Quicker turnaround of 10 hours.
He was aghast at my offer and I had no other choice but to Decline the Gig.
Surprisingly after couple of hours he mails me that the gig is now closed and assigned to another seller, who intends to do the whole work at the SAME $5 !! Are you Kidding Me ??
I dont think I would be able to offer my services here at such abysmally low Rates !! Its much better and More Ethical in an Offline Marketplace than this Online Marketplace.
So , I ask of all the Heros of Fiverr - Can you kindly help this Noob with how to tackle this problem ?