I just want to endorse what @wolfhowler and @visualstudios say.
When you find the confidence to charge more for your work (and extend the delivery time), the difference in the quality of buyers is astounding.
It’s like you’re signalling to low-end buyers “Don’t mess with me. I know what I’m doing, I know the rules around here”. And at the same time you’re signalling to the better quality buyers “I charge more because I’m good, I’m experienced, I’m not desperate. Trust me”.
Like many new sellers, a few years back I used to charge $5 and offer a 24 hour turnaround. Sure I got quite a few jobs, but the quality of work was low and the buyers a bit sketchy at times. And I was always a bit stressed about completing work on time.
But the moment I started to charge a minimum of $10 and at the same time changed my delivery time to 48 hours, the work was generally more interesting, of a higher standard, and the buyers more chilled. As the work was already to a higher standard, it actually took me less time to complete! It was a complete win for me.
About a year ago I decided to offer only a 72 hour turnaround for the same price. I simply wanted to take my foot of the pedal a bit and not be stressed about time deadlines (I have a life outside of Fiverr believe it or not!). The result has been interesting to observe. The people who are prepared to wait three days for a job that might take me only 20 minutes to complete are working with me because they’re good people who aren’t pushy. They just want a quality result. And they’re prepared to wait a bit for that. Now THOSE are my kind of buyers! I should add that I still complete jobs quickly if I can, and buyers love that - but it’s about having the flexibility and the control over my life.
At the moment, I am considering raising my basic rate to $15. It’s still a fair price for the service I offer, but all the old fears about will I get any orders have come flooding back! In my case, if I do raise my price it will put me in the top few percent for the service I offer. I need to think.
But based on my experience, raising your basic price from $5 to $10 is a no brainer.