Fiverr Forum

When is a good time to increase your gig prices?

Hey Folks,

Hope everyone is doing well.

I’ve been selling writing services on Fiverr since March of this year. Of course, in order to get my first clients, I underpriced all my gigs at $5 and offered a 24-hour delivery time. While this strategy does get you orders, it does attract mainly a certain clientele. For me, it’s buyers who provide as little information as possible about their products or barely speak English so it’s difficult for me to understand their needs.

I only recently increased my delivery times and I’ve been trying to decide whether the time is right to also increase my gig prices. I am a little bit hesitant as I see other sellers quite frequently voicing concerns about a drop off in sales. And, from what I understand, once your sales decline, it can be a challenge to build them up again.

I have completed 100 orders, but only have 73 reviews.

I’d love to hear the experiences of sellers who have been here for a while.

Thanks in advance!

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Here’s an interesting topic on raising your prices. Worth a look!

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My opinion is that once you are a Level 2 with 5 star ratings like yourself, you should go ahead and do it. Two things happen, first the $5 buyers who seem to be concerned only with price, disappear. Second just doubling from $5 to $10 doubles your revenue. Yes you will get that awkward feelng after making the change and will be tempted to go back, but dont. The orders will come. The question is do you want to do the following:

A. 100 orders at $5 = $500
B. 75 orders at $10 = $750.

Go for it. Best move I ever made, I am thinking of raising once again.

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Thank you for taking the time to read and respond to my post. I really appreciate it. I’ll definitely have a read of this post.

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Thanks for taking the time to share such useful advice.

I think the nervousness comes from wondering when you increase your price to reduce orders from cheap buyers who don’t even take the time to provide information on their product, does that mean your gig will be ordered by the next level of buyers, people who are willing to pay $10-$20 per order? Why aren’t they ordering now? LOL.

The majority of my buyers are the ones who do not fill out the order requirements and can’t speak English properly. What I also find interesting is that the orders come in during the wee hours of the morning, even though they have as their country USA and Canada. (My time is the same time as Miami.)

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And these are the first to disappear when you up the price.

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I am curious, though, why am I not getting a higher quality of buyer now? I wonder if it’s because of the $5 price tag?

I noticed that after raising prices, the more serious buyers (agencies, etc) started contacting me more. I think price speaks to quality in most people’s minds.

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@newsmike I just increased my price to $10 and changed my delivery time from 5 to 3 days. I am very interested to see what happens. I’ll let you know what patterns develop over the next two weeks. Thanks again for sharing your experience. It has been very helpful.

Good luck. Let us know how it goes. I remember when I first did it, it got really quiet for like a day and just when I was ready to revert back i got an order, then another and so on. I’d be interested to know how things go for you.

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Will definitely keep you posted.

I agree with @newsmike. Many buyers associate higher quality with higher prices. They ask the opposite question as you. “Why is this seller so cheap if they are as good as they say…”

There are a set of buyers who will skip you at the lowest prices, but consider you if you are at a higher level in terms of pricing AND have the social proof (enough reviews/experience/samples) to justify a higher investment.

Same in a store. Most consumers don’t purchase the cheapest product (or the most expensive), they go for the seller/product in the mid range if they can afford it.

It gets lost on many Fiverr sellers that buyers will invest a bit more if they get better results/sellers.

Few like to waste money, but Starbucks isn’t selling the cheapest (or most expensive) coffee around. Buyers like the quality of the product, and pay more for something they could make at home for a fraction of the price, or buy from McDonald’s for less.

Quality builds repeat clients, and in my mind those are the clients you want to attract. Those clients respect the fact that great sellers rarely are the cheapest.

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A. 100 orders at $5 = $500
B. 75 orders at $10 = $750.

I did that , And Loose my sell

When you have more gigs than you can handle, increase the price. When you have less gigs than you want reduce the price. Supply and Demand.

Just to give an example of the buyers I am talking about. I have someone who ordered my product description gig which was on a five day delivery. He wrote me a terse message in the wee hours of this morning, no delivery yet?

So I have to take the time to explain to him that his $5 order has a 5-day delivery time. To get it sooner, he would have had to pay for fast delivery. Sigh.

@lisabaarns Yup, I agree. That could very well be the reason why the higher quality buyers do not purchase $5 gigs.

For me, I was just unsure whether 73 five-star reviews was enough social proof to raise my fee. I believe that once you offer top-notch services it should not be so tricky to raise your fees. After all, does Fiverr prefer making $1 off of one million $5 orders or $8 off of 500,000 $40 orders.

It seems they boxed themselves in with the $5 concept and now they are working hard to get buyers to pay more money through the introduction of packages and the Pro Seller.

What is interesting, though, is I see some sellers just use the package feature for bulk orders which still work out to $5 per unit. Eg, $25 for 5 product descriptions and $50 for 10 product descriptions.

I don’t think they boxed themselves in unless you take a very short view of this site.

They have had enough success to give them great cash flow, and other brands have made the transition from cheap to quality, but it takes time.

Toyota was a cheap brand many decades ago. Over time they continued to improve and refine, then created their Lexus division. Today a powerhouse. Just one example.

In those days there wasn’t any social media, or the pace of change we have today.

Fiverr actually gave themselves the cash flow to buy additional time to refine, invest in marketing. There are far more clients out there who haven’t/don’t use Fiverr yet, so their impressions are yet to be set.

As it goes upmarket, some sellers who wouldn’t have considered it will also join, and newer buyers will have a far wider set of choices. A year from now it will be interesting to see how it all shakes out.

My business experience says the quality sellers who charge a bit more will do very well, but we’ll see.

@smashradio @newsmike @lisabaarns @rich_p

Just an update: it’s now been two full days since I increased my gig price from $5 to $10 and, since then, I’ve not had a single order. :laughing: Will give it another week and see how it goes.

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It might take some time so a week would give you an idea. Whenever I update my prices, I also reconsider what I’m offering. Is it worth 10? Will someone else do the same for less? If so, what can I do to increase the value of my gig, and how can I communicate this through my Gig graphics, video, descriptions and gig name?

I keep my price at STARTING AT… 5$, but that is only the very basic offer. I increase my revenue through extras and additional words. Your gig name for product listing says nothing about the number of words you offer for 10?

When my gig was at $5, I did have gig extras. No one ordered the gig extras though. They just pretended like they did not see them and wanted a full order for $5 :joy:

And, yes, when it comes to writing services someone will always be willing to do it cheaper. When I increased my price to $10, I decreased my delivery time from 5 days to 3 days. I may try two days next week, if no orders come in and see if that makes a difference.

Yes, the word count is not in the gig title.

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