When it's Time to Raise Your Rates, Pt. 2
Sometimes, staying where you are is almost like going backwards. For the sake of our own best interests and even our emotional wellbeing, it's good if we can keep striving ahead, moving forward. On Fiverr, while we may start at low rates to become established and get those initial numbers, there comes a point where we stagnate. Rate increases in one form or another can be a good way to advance and grow on the platform.
We talked about some of the ways we can increase our rates last time, as well as diplomatic ways to handle the changes with our existing customers, and also the hazards associated with rate increases. This time, let's explore a completely different approach to raising rates, involving the restructuring of the things we offer.
The fact is, you don't necessarily have to raise your rates at all in your current gig. You can just create a new gig at a different rate! And...before you say it...I know that sounds weird. "How can I justify two gigs that charge different amounts?" The answer is simple. You offer two different configurations!
Two-Tier Pricing
It's not as strange as it sounds, and I can tell you from personal experience that it works! By offering gigs at two different price points, you can continue to appeal to buyers with smaller budgets, while also putting yourself in the more rarefied atmosphere of higher-paid sellers. And all that's required is that you change what is offered in each of the two gigs.
The best way I can explain it is by example. As a voice-over person, I currently have two main gigs. The first is my basic, straight-announcer gig, which offers up to 100 words of narration for $10, and absolutely...nothing...else...included in the base price. Anything beyond that is an extra, including any specialty styles of voice-over, commercial rights, etc. The second is my premium gig, which is $40 for 200 words, and includes free commercial rights, free WAV file upgrade, and priority order handling.
By having two different gigs, the pressure is off for me. I feel like I have my bases covered and am making myself available to a much larger number of potential buyers. Out of the thousands of orders I've taken, just one person, one time, asked me why I had the two different rates, and I had a ready answer: "The higher price gig is premium and includes a lot of things, including a higher word count, whilte on the basic gig, everything you add is extra." That satisfied them...end of story.
Having gigs at two different price points has a huge impact on your search results on Fiverr. At the same time that you're making yourself available through your discount gig to people who are searching specifically for low prices, you're going to discover that your premium gig gets bumped up organically by Fiverr in the search results, because it benefits them when sellers charge more and get more for their services. In my own experience, two tier gig offerings has definitely been a win-win.
Find out what you can do, LEGITIMATELY, to get ahead on Fiverr. Please hit the Gig Checkup link so we can set up an inexpensive personal consultation and discuss ways to optimize your gig for increased traffic and sales!