Fiverr: The Payday You’re Missing Out On

Thousands of people flock to Fiverr for both a means to get some much-needed work done and to get paid for their talents. It bridges the gap between freelancer and client in an efficient, easy-to-use web service. But what is Fiverr exactly, and is it right for you?

What is Fiverr?

Fiverr works as a digital marketplace for freelancers worldwide to meet with people looking for their services. It is among the best sites to hire freelancers.

Fiverr is designed to be your one-stop shopping destination for all of your freelancing needs. If you need a one-off project completed and nothing beyond that, Fiverr is the way to go. It’s transactional and performance-based. No more. No less. It’s great for small business owners who need a design but don’t need a graphic design department. And it is great for freelancers as they can meet prospective clients and set their own terms.

The range of services offered on Fiverr is pretty extensive. Freelancers offer copywriting, web design, graphic design, transcriptions, and so much more. Clients can pay in advance for the gigs and get projects back quickly.

In an increasingly gig economy, the need for freelancers has only skyrocketed. Many entrepreneurs have an abundance of skill but may lack the knowledge (or interest) in the behind-the-scenes work to generate business. That’s where Fiverr comes in.

How Does Fiverr Work?

In the early days, all gigs on Fiverr were just $5 – hence the name. Now the pricing has opened up, and so has the spectrum of services offered. Clients can pay for a gig and expect results, usually within a day or two. The freelancers set the turnaround time, and some are busier than others. If a freelancer has a lot of projects in their queue, plan to wait a little longer.

Freelancers get 80% of the cut for their work, and Fiverr gets 20%, sort of like a finder’s fee. Once the freelancer completes the job, Fiverr deposits the money in the freelancer’s account.

Fiverr: 101

A service offered is called a gig. It’s what clients go to Fiverr to pay for.

A seller is the freelancer offering the gig.

A buyer is the client that purchases the gig.

Posting a request is a specific need that a buyer posts on Fiverr in hopes of filling it.

The Two Sides of Fiverr

Fiverr’s website is split into two different interfaces: one for buyers and one for sellers. Let’s take a look at each side of the site.

Buyers

The Buyer’s side has a catalog of category pages. Buyers can browse through the catalogs to see the listed services. If they have something specific in mind, they can use the search option to find a specific type of gig. Buyers can search ‘web design’ or ‘editor,’ and a list of all the gigs that match your criteria will appear.

There is no shortage of sellers and gigs, and it can be a bit overwhelming. Buyers should take a moment to read through the sellers’ gigs. Look at their portfolio to see previous projects the seller completed. If buyers have any questions, they have the option to message the seller privately.

When the buyer is ready, they can purchase a gig. We should note that there is a processing fee.

Once you purchase an order, Fiverr alerts the seller to the gig. Then, the sellers begin working on the order, buyers can communicate with them and offer notes or changes. Once the buyer has reviewed and accepted the order, the money is deposited in the seller’s account.

Sellers

On the other side of the site, Sellers create a profile and upload any gigs they want to offer. Sellers can set whatever price they want but must be competitive to get any work. There is also the option to list add ons to the gig that can generate more revenue.

If a buyer needs one of the seller’s gigs, they place an order, and the seller gets to work. Buyers can leave feedback for the seller and give their service a rating. The higher the rating, the easier it is for sellers to increase their prices and generate more money.

There is no cap to the amount of money a seller can make working with Fiverr. Some sellers make as much as a couple thousand dollars in a month. It’s all a matter of how you market yourself and how quickly you turn around your work.

And.co is a platform designed by Fiverr that helps sellers keep track of their expenses and time management.

Should You Use Fiverr?

If you’re a buyer, the upside is very practical. You don’t need to commit to any long-term contracts or hire a team and exhaust payroll. You only pay for what you need.

For freelancers and contractors, it can be a bit tricky. It can be tough for the overly ambitious who lack time management skills. Fine-tuning your profile and staying competitive can be a job in its own right.

On the other hand, you make your own hours and only do the work you sign on to do. You have the chance to work directly for your customer base and flaunt your skill while working at home. Fiverr is a valuable source, but it’s all what you make it. The more time and attention you put into it, the more you get in return.