Fiverr is an online marketplace for people to find and give services of various types. Since its launch in 2010, Fiverr has grown into an arena of opportunity in itself with more than three million gigs in its database. It has become the largest marketplace for digital services in the world. Each service on Fiverr cost a minimum of $5 until 2014. After that they removed this price limit as the marketplace grew.
How does Fiverr work?
Fiverr more or less works like any other place where one looks for a service and the other offers one. The sellers mention the services that they can provide and those who want to buy it will ask a few questions to confirm if the service matches their requirements and make a purchase accordingly.
Amidst this business, Fiverr takes 20% of the transaction. As mentioned earlier, the variety of services that can be found here is really wide and what you can do is to make a mini sales pitch by explaining your potentials that will make the buyers make the purchase.
It is a credible website with its own customer support. They will help you regarding any concerns at any point of time. It protects both buyers and sellers in a judicious manner. As a buyer, if your order is not delivered, you can either get a refund or an extension. The sellers can take a test which is a new feature of the website that will add to their credibility. Good reviews, information about their education will further strengthen the credibility of a seller on the website. The quality of the seller can be assessed by the buyer by going through their ratings and reviews.
Categories in Fiverr
The following are the major categories that are available in Fiverr. All these categories contain more than 30 subcategories.
- Video And Animation
- Music And Audio
- Graphics And Design
- Video And Animation
- Writing And Translation
- Programming And Tech
- Digital Marketing
Pros of using Fiverr
The variety of projects that you get to work in Fiverr is unmatchable.
The website is constructed in such a way that it is extremely easy to get a hang of it and locate the suitable service.
No matter how less or more the buyer pays, it is definitely an additional source of income. It is always good to tap at this opportunity.
Cons of using Fiverr
If not often, at least in the beginning you will be disappointed to observe that you are underpaid for your services. Apart from that, 20% of the transaction goes to Fiverr and this makes the situation further grim for the seller.
With the style of transaction in itself, it is clear that Fiverr does not offer continuous money. It completely depends upon how you do the business with the buyer - and hence Fiverr can never be a reliable source of income.
Fiverr takes upto 14 days to complete their payments. If you are a verified seller, chances are that your payments will be transacted faster.
Fulfilling requirements can be stressful in most of the cases. This happens especially in the beginning mainly because the seller does not want to get any bad reviews.
This also means that sellers will have to sacrifice upcoming orders in order to prioritise the existing ones.
This is the biggest bane of Fiverr for all its stakeholders. Sellers write or hire people to write fake reviews for them and will mislead the buyer into losing money for low quality work.
Lack of satisfaction
It is unlikely that neither seller nor the buyer gets satisfied in the transaction although satisfaction is not a rarity. In many cases, the seller is underpaid and the buyer often gets low quality works done.
This adversely affects the business of both the buyer and the seller.
Analysis of Fiverr in 2021
From various reviews and studies, it was observed that Fiverr is not a great place for freelancers any more. It has lost its reputation over the period of time. Its ranking systems are flawed and fake reviews outnumber the original ones. There is always a lack of communication between the buyer and the seller which creates a trust issue all the time. It has become the market for the smart ones.
It's good for those buyers who have a way with choosing the right service in the right quality or to be precise; for those who know how to exploit the service providers.
And as far as the seller is concerned, they mostly provide low quality works in a way that was not advertised. It is a loss for them. The competition is so high that they have to lower their prices to stay in the market. Once they do that they might get more orders. Many sellers in Fiverr say that they work too hard for too little money. Most of the transactions occur at the base price of $5 which makes things largely dull for the sellers.
Tips for Sellers on Fiverr
- Set the price that is worth your effort. In this way only the right customer gets to you. It will help in ensuring satisfaction on both ends.
- Make use of the resources that is put forth by Fiverr that will help you in improving your business.
- Be honest to your work and deliver orders on time.
- Focus on quality and not quantity - over time you can develop a strong base which can convince your buyer the reasons for the service’s relatively high price.
Tips for Buyers on Fiverr
- Do not be blinded by reviews, it can be fake.
- Read the negative reviews before you place your order.
- Be clear about what you want.
- Focus on quality of the work rather than trying to get work done at a cheap rate.
- Do not hesitate to complain if the order delivered is not satisfactory.
However, it cannot be ruled out that there are a lot of decent people there too. Be careful about the red flags and contact customer support in case of any help. Do not lower your prices for more business and ensure that you get the right buyer and seller. After all, no place is bad when people on both sides have the right intentions.
Which country uses fiverr the most?
Most of the Fiverr traffic comes from India and then followed by US.
What sells best on Fiverr?
Product Demonstration Videos, Video Editing, Video Intros & Outros for Business, Slideshow Videos, Logo Design, and Photoshop Editing are some of the jobs that sell most on fiverr.
What is a gig in fiverr?
A Gig is termed as the service you offer and sell within the marketplace at Fiverr. Your Gig is an opportunity to showcase your talent to potential customers, as well as to provide all the information they may need prior to placing an order.