I’m curious as to whether any other sellers have used Fiverr’s “Bring Your Own Business” (BYOB) platform.
The way it works is that if you have clients outside Fiverr, you can use this part of the platform to manage your orders etc. with them. There are several advantages:
- You can centralize your orders in one place.
- Clients pay up front, so there is a guarantee of rapid payment (for example, all of my regular, non-Fiverr clients are on “net 30-day” terms and are invoiced at the end of the month, so it can be up to 60 days for me to receive payment for work I have completed).
- The 20% commission you pay on those orders is refunded to you, although that can take between 30 and 60 days.
- Standardize requirements gathering, extras, etc.
But, in my mind, there are some pretty big drawbacks as well, which is the main reason I don’t use the platform, namely:
- My prices on Fiverr are 20% higher than my off-platform prices, to cover the commission, hence how my gigs are priced. Unfortunately, that’s the price I have to provide to BYOB clients, unless I raise a custom offer for every single one. Needless to say, they are going to balk at paying 20% more.
- If I want to get the commission refunded, my client has to use a special Fiverr referral link, or I don’t get it back.
- All clients will still have to pay a 5% processing fee for payment and admin (this is a fee I normally absorb as a freelancer when taking payment).
The thing is, I like the idea of the BYOB platform, I just think it needs some tweaks before it is truly useful. In my mind, the changes that are needed would be:
- Provide an option for the seller (rather than the buyer) to pay the 5% commission. As a seller, I don’t want to charge extra to my clients, and would rather absorb this cost myself, especially as I am essentially bringing them to a new platform. The cost is also less painful for me to pay as I assume Fiverr will be absorbing the 2.9% credit card cost that I normally incur.
- To pay the 20% commission / referral fee more quickly than 30 - 60 days.
- Let me create private, BYOB gigs that can be “discounted” by 20% to my off-platform prices.
- Don’t require me to send special links to buyers so that I can get my commission refunded.
I am curious what your thoughts are on BYOB, whether you have used it or would consider using it, and if you have any comments. Thanks!