Fiverr Forum

Raising Prices Can Help You

This week I’ve decided to raise my prices for most of my gigs, and noticed that while sales dropped, my profits increased.

Today for example I made $44 out of just 4 orders. Only one of those orders was $5.

Yesterday I made $76 out of 6 orders.

One thing I’ve noticed is that if the price increase is realistic, you will get sales. Going from $5 to $10 is realistic. Going from $5 to $50 isn’t realistic, unless you’re doing a very complicated job.

My monthly average has jumped from $37.6 a day to $46.4. My cancellation rate has decreased from 18% ($204) to 3.6% ($32).

So if you want to raise prices, do it. If you keep track of every sale on an Excel sheet, you’ll see if your prices are working for you or against you.

4 Likes

An excellent bit of advice. Good luck as you continue to fine-tune your pricing!

Your daily average is about the same as mine, more or less…but I suppose I put in many more hours because of the nature of my gigs.

Awesome! Sometimes people get a bit scared to do it, because you will lose buyers, but when the end result is more money in your pocket, that is what matters at the end of the day :slight_smile:

Another good reason to raise your prices is to weed out difficult buyers who expect the world for $5. I’ve had orders where I spent 9-10 hours on a $5 gig because the buyer was not happy with the result. For some gigs, revision takes just 30 minutes, but I used to offer screencast videos for $5 and making a revision takes another 1-2 hours.

Since then I’ve raised by prices, included FAQ’s and updated order requirements. Orders have gone down, but the quality of buyers has gone up.

2 Likes

I have decided against raising my prices as I have very long delivery times, and wouldn’t be able to justify that with higher prices. Higher prices = greater expectations from clients. Also, I am very happy with what I make from Fiverr and work in a relaxed manner. Work here is fun for me and I have some really nice clients. I wouldn’t want to change that. But of course, raising prices is a very good strategy, but it’s not something I would want to do.

But maybe raising your prices would reduce your backlog. Currently your average delivery time is 19 days, which is very high for a copywriting gig.
You have 17 orders in queue, meaning by the end of it, you’ll make $85. Why not raise your price to $10 and with just half of those orders you’ll get pretty much the same amount, but you won’t have a backlog.

I don’t know how Fiverr works, but aren’t you afraid that you’ll get negative feedback due to delays in delivery?

I think raising prices is all our ultimate goal in the long run.

However, when you are just starting off with not many reviews it is less likely for a customer to order if you price your gig above $5. With less orders means less reviews. And with less reviews means your Fiverr Search Ranking will stay low which causes lesser traffic, lesser impression and etc…

In my opinion, prices have to be very tight in the beginning when you start up a new gig on Fiverr. It is like using the cheap price as bait for customers to bite.

Once you build up your ranking and gathered a bunch positive reviews of you will be able to raise prices and probably benefit from the increase in prices.

This is because your gig has attained a certain status in Fiverr search ranking. Therefore, you will be generating stable traffic. With a stable traffic and good reviews customers are more than likely to order at $5 or $10 since in general prices are already quite cheap.

It’s been more than a week that I became a level one seller, and there is no single order I have got so far. What shall I do in this situation? Shall I increase the price or decrease may be? Although, the prices mentioned on my gigs are pretty reasonable.

You should not talk about things you have no idea about. LOL.

The answer to your question is not about raising your gig prices my friend.

It’s simply you have to generate more traffic to your GIG!!!

“You have 17 orders in queue, meaning by the end of it, you’ll make $85.”

LOL…each order has 10 to 30 articles. Each article is worth $5. Now do your math :slight_smile:

With just 9 reviews I think raising your prices is not a good idea. Lizzy has explained it nicely in her post here.
Raising prices makes sense when you are getting orders on regular basis and you wish to improve the quality of your buyers, increase revenue and maybe even reduce your backlog.

There are 4 single article orders, I checked. Rest are multiple-article orders, between $50 and $150. Anyway dude, thanks for your concern :slight_smile:

To simplify what I just said, customers are less price sensitive towards GIGS ranked higher on Fiverr search engine.

Use cheaper prices to gain more reviews and ranking. Then raise price when your gig can generate stable traffic.

If that’s the case then I’m happy for you. It was just a genuine question about delivery time vs negative feedback. I’m not a top seller, but I assumed you have enough orders and feedback that you can afford price change. If someday I will get to that stage then I would probably raise the price to deliver high quality, but that’s just my opinion.

Thanks for sharing the insight

I have received 4 negative feedbacks in 2.6 years and after having completed over 3300 orders. Over 2300 positive. Do your math. You should not presume to advise people who have been there, done that. If I want advice or comment on my Fiverr career, I will ask @fastcopywriter, not you. Thanks.

No offence, I wasn’t trying to teach you how to run your business. I was just trying to understand why you would sacrifice your delivery time over price change. I’ve ordered articles myself and I usually pay 10-15 for copywriters because I prefer quick delivery.

Anyways, thanks for the explanation and I’ll promise I’ll do my math before asking questions from you :wink:

I’m not a copywriter, I’m a content writer, I write articles and blog posts. That’s different.

I assume it certainly would help but only for someone whose gigs get huge traffic and gigs are market leader. Let’s take your branding gig as an example, You have 1K+ reviews and mine has just about 20 odd reviews so as a level 2 seller who is looking to grow client base, increasing price could bring drastic decrease in sales however that being said I’ll give it a try some day for sure! I even tried to decrease my delivery times, my branding gig was express delivery gig even the extras in 24 hours yet it didn’t get any response :frowning: All in all, TRS and Level 2 sellers with handsome junk of reviews at least about few hundreds can afford to increase price, others can’t.