Let me first start off by saying I love that fact that fiverr introduced a beta version to test starting rates above $5. Because I had a gig in the animation category, I had the chance to test it out. I think it’s great we can still offer a base price of $5 but for some of my gigs (like explainer videos) I never sell a single $5 gig.
After implementing a base price of $50 for a month here are some observations
- The number of quality orders increased - I think because the gig is at a higher priced at a higher starting point there was more perceived value. This resulted in an increase in repeat business.
- The number of unnecessary messages decreased - I got hardly any messages saying "my budget is $5 what can you do for me. I think setting a higher price point eliminates a market of buyers only looking to spend $5 on a gig. While there is nothing wrong with that it is not conducive to every gig.
- The number of cancellations on that gig increased- My theory on this is that if I tweak my gig description and instructions the pricing structure will become more clear to potential buyers. I think because this is still a new concept buyers aren’t fully used to seeing, this will improve over time.
Did anyone else try this? Thoughts?