Last time, I talked about the way pricing affects your status on Fiverr.
Those who are priced the highest represent the smallest block of sellers at the top of the pyramid, and those selling at the lowest rates are at the broad base of the pyramid. For that reason, if you are pricing low, you have much more competition from others who are also pricing low. And naturally, if you are pricing high, there is far less competition from others who price high.
There are many ramifications to price beyond what I'm covering today, but let's focus on how your pricing affects people's ability to find your gig in the Fiverr haystack. There are trade-offs to both high and low pricing strategies. Here are benefits of each:
The Benefit of a Lower Price
When people tick the price parameters boxes and are searching based on price, you are necessarily eliminated if you price high, and the buyer has set their search parameters to find someone who will do something for five bucks. So in those searches, the people at the base of the pyramid benefit, and the higher priced people are ruled out.
There is more demand for the low prices, because lots of people come to the platform hoping to get something for almost nothing. However, because there are SO many offering low prices, this still tends to leave you with a lot of competition for the same budget buyers. It's my suspicion that, if the buyer pyramid was overlaid on the seller pyramid, the base of the buyer pyramid would be far less broad than the base of the seller pyramid.
The Benefit of a Higher Price
While demand for higher priced talent is lower on Fiverr, there are still plenty of buyers on the platform who are used to paying a lot more elsewhere for services than what the "high priced" sellers on Fiverr charge. So they don't bat an eye at the higher price, if you show up on the front page of those search results, and you have what they need.
The biggest benefit of pricing high is that you're much more likely, in my experience, to show up high in the search results....and being found is one of the most important keys to success on Fiverr.. Do an incognito browser window search on Fiverr for people who offer the same service as you. Look at the prices of the people who show up on the front page. End of story.
I'm going to keep this entry brief, because I know you would rather get one solid thought from me quickly and then get on with your day, so this is it:
"If you want to rise in the search rankings, start with a rise in your prices."
I'm not saying you should instantly log into your account and make the change. If you're just starting out on Fiverr, are green in your skill levels, don't have a credible demo video yet, and your gig has only had a few orders and reviews, you don't have the creds to price yourself high yet. But after you're established as at least a Level One seller, have some good initial sales numbers and a few dozen positive reviews, start thinking about it.
There's so much you and I can do together to improve your gig's performance. Schedule your Gig Doctor appointment by hitting the Gig Checkup link at the top of this page for an inexpensive personalized checkup and consultation!