When should you increase your gig price?

[heidelaz]

After a certain number of 5 stars? When you reached a certain level?
Also, when you’ve increased it, how do you communicate this to your regular buyers? Do you give them the new rate (and do they accept it)? Or do they still enjoy the previous cheaper price?

Thanks in advance!

[hanshuber16]

After a certain number of 5 stars? When you reached a certain level?

Also, when you’ve increased it, how do you communicate this to your regular buyers? Do you give them the new rate (and do they accept it)? Or do they still enjoy the previous cheaper price?

Thanks in advance!

There’s no singular answer to your question. Different sellers do it differently. Some sellers increase their prices as soon as they get promoted to a higher level. Some sellers raise their prices gradually over a long period of time. There are others who constantly modulate their prices based on the sales/traction they make/have.

You need to do what’s best for you. You could raise your prices and see the impact it has on the number of orders you receive. You will have to experiment a little to find out what works best for you.

Or do they still enjoy the previous cheaper price?

Of course! It is only logical that most buyers would prefer the cheaper price. 🙂 Why pay more when you can get the same thing done for lesser, right?

But, if you were undervaluing your gigs and selling them for lesser than what you/your buyers think they’re worth, your buyers (who realize your potential and love your services/products) may not mind the increase in prices. 😃

[danielier]

It depends upon many things:

1. Quality of Delivery
2. Orders in Queue
3. Work Efforts
4. Your Profile Level
5. Your experience and much more…

Thanks,

Guru

https://www.fiverr.com/dexignguru

Ehm… I think that you can’t share your profile link outside “My Fiverr Gigs” section 👀

[heidelaz]

Thank you for the replies. Yes, indeed, I am undervaluing the services because I am relatively new and I really want to gain 5-star ratings. I now have 20+ 5-star ratings on my best-selling gig and I will reach Level 1 seller soon, that’s why I’m asking if increasing my prices will be a good move now.

My top-selling gigs are paused at the moment because the orders pile up so fast, which is good, right? But I really get drained and exhausted providing a $50 worth of service in exchange of a $5 payment.

When you increased you gig prices, when did you guys do it? And how did the orders come along? Thanks! 🙂

[xuntes]

After a certain number of 5 stars? When you reached a certain level?

Also, when you’ve increased it, how do you communicate this to your regular buyers? Do you give them the new rate (and do they accept it)? Or do they still enjoy the previous cheaper price?

Thanks in advance!

After a certain number of 5 stars? When you reached a certain level?

Also, when you’ve increased it, how do you communicate this to your regular buyers? Do you give them the new rate (and do they accept it)? Or do they still enjoy the previous cheaper price?

Thanks in advance!

I support the idea you should raise your prices when your demand gets higher, which you can’t handle all your orders.

Also, as I explained in other post, you should balance your expenses with your desired (since realistic) earnings.

If you are providing $50 worth orders for only $5, you should start communicate with your buyers explaining you need to charge more for such service.

start raising to $10 and see how it goes.