This is something I’ve wanted to post for a while, and is purely based on my experiences. I just thought it would be useful to some to know that sometimes raising your prices can be the right thing to do.
I’ve been considering raising my prices for several months. My short story gig was the reason I started thinking about it: I had 500 words for $5 as the minimum amount, but because I kept overwriting I ended up selling 1,000 words to a repeat buyer who ever only ordered at $5. I wanted to raise the minimum price of that gig to $10 so I could stop losing time and money, but I was scared of deviating from the base price of $5.
When I did end up tweaking my prices, I changed the bottom prices of both my short story gig and blog post gig to $10, and raised prices slightly on my translation gig.
A few things have happened since then.
That $5 buyer did disappear, but that was the only buyer I ended up losing. (I also took a break for about two months from Fiverr, so I was lucky enough to not have many repeat buyers to lose in the first place.)
More people have come to me for bigger projects, so that instead of earning $5-$10 per project I’ve now been earning around $20-$30. Although the short stories/articles themselves are longer, extending/expanding a piece is much easier than developing up a new one for each order, especially given my tendencies for overwriting.
My new buyers are much more generous. They no longer ask for discounts on bulk orders. I’ve been tipped several times within the last two weeks even though the orders themselves are also more expensive. They also tend to write more detailed reviews and are more courteous in general.
Despite working at a more leisurely pace with long delivery times on each gig (since I’m a student), I’ve earned more last month than what I did during the summer even with all the time I devoted a lot to keeping up with school work.
Surprisingly enough, I actually haven’t been getting as many orders on my older gigs that remain with a starting price of $5 than my other ones, although this may also be a side effect of my short story gig being featured.
Just wanted to share a positive experience and encourage some of y’all out there that raising your prices can be great!