How to Make Money on Fiverr
Let’s get one thing clear. For the most part, selling gigs on Fiverr means you trade your time and effort for money. A lot of people have no reservations about this. Most people don’t have a problem doing this.
If you think about it hard enough, this is a problem. How come? First of all, there are only so many hours in a day. Also, there’s only one of you. If you are not careful, you might end offering services that everybody can pretty much do.
What do you think happens in that situation? That’s right. The price keeps dropping. The customers that you get expect a lot more for the $5 that they are willing to pay. In fact, a lot of people, believe it or not, expect a Ferrari while paying only the price of a beat-up Toyota. It’s crazy!
It gets old quickly and it’s no surprise that a lot of people who offer gigs on Fiverr end up quitting. It’s only a matter of time. Even if you make decent money by doing volume work, you get burnt out quickly. This is not a surprise. In fact, it’s completely predictable.
The good news is there are at least 5 ways you can make real money from Fiverr without trading your time for money. Here are brief overviews of these 5 different methods.
Resell the services of others
If you have access to buyers of analytical work, WordPress, theme installations or writing for SEO and other purposes, you may want to try reselling the services of people who provide these types of work. You save time and money. You’re just the middleman.
Basically, you find buyers and you charge them a lot more money than what you’re paying Fiverr service providers. Sounds awesome, right? Here’s the drawback. You can’t use this buy low and sell high strategy for certain types of services.
For instance, Fiverr does automatically watermark drafts of graphics works. If somebody’s doing a logo for you and they send in a draft, when you download that draft, it will say “Fiverr” right in the middle. Fiverr does this because in the past, people would resell graphics services to their clients.
Their clients would ask for revision after revision then after all this process and waste of time, the customer demands a refund. Everybody loses. Fiverr caught wind of this and effectively discourages graphic work reselling.
Also, this watermarking system prevents customers on Fiverr itself from ripping off service providers. As long as you can find buyers, there’s a wide range of services you can resell. Just make sure that you’re not going to run a file of the watermark system.
Bundle services and sell newly build online assets
Believe it or not, there are quite a number of people who would buy websites that do not contain anything. These are website shells also called turnkey or starter sites. These websites generally either have very little content or have only “starter content” or absolutely no content.
All of these are in demand as turnkey websites. The idea is for somebody to buy them and just pump traffic to them and make money off the ads or their mailing list. The reason why people buy this type of asset is because they simply do not have the time or expertise to create a new website from scratch.
When you place orders with different Fiverr service providers for website development or WordPress installation, you tap into different sources of talents of the different sources that you need to put together a turnkey website.
You then spend very little money putting together this turnkey website and then you sell it right after you have put in enough content, or in many cases, no content at all. This is actually quite lucrative if you know where to sell.
If you want to figure out the secret of how to make money off Fiverr using this technique, click here.
Bundle services and sell sites with traffic
This technique basically builds on the previous technique. You contact many different cheap service providers to develop a turnkey site. You got somebody to design the banners and the headers. You get somebody to install the WordPress theme. You get another person to write the content. You get another person to modify the theme.
You then put everything together and you stock it with content. There are plenty of writers and video producers and audio developers on Fiverr. If you’re looking for content, Fiverr is the place to go. This is especially true if you’re looking for affordable custom content.
Once you have stocked your turnkey site with content, the next step is to go to the traffic providers on Fiverr and hire them to work their magic. All told, expect to spend less than $200 to $300 on this project. If everything goes well and your turnkey website actually generates a little bit of cash, you can flip that website to sell for possibly hundreds if not thousands of dollars.
It all, of course, depends on your niche, target audience as well as the overall quality, traffic volume and conversion ability of the turnkey asset you have built. If you want a blueprint on how to do this right so as to actually make a profit, click here.
Buy services that help you buy re-sellable high value assets
There are many online assets that can fetch quite a bit of money. I am, of course, talking about domain names. Did you know that domain names like sex.com, business.com, shoes.com and many others fetch not hundreds of thousands of dollars but millions of dollars?
Domain names are big business. Even if you were to buy and sell lesser value of lesser known domain names, you can still make quite a bit of money. In fact, if you buy the domain name of a website that has expired, it can fetch you 4 to 6 figures. Amazing, right?
Well, there is a mature and stable market for online assets. We’re talking about links from expired domains, the actual domains itself or specialized data like contact information of decision makers in companies in certain industries.
People will pay very good money for these assets. The obvious problem is how do you get your hands on these assets? That’s where Fiverr comes in. Fiverr has a lot of virtual assistants, a lot of people who know how to use all sorts of software. You can tap this massive base of gig sellers to hire people to find high value digital assets for you.
Of course, there is a conversion rate here. You may pay somebody $50 to find 1000 domains. It turns out that of those thousand domains, 10 are any good. Of those 10, you’d be lucky if anybody would pay good money for, at most, 2. Still, if you have paid $100 and your 2 domains fetched $5,000, you’re a happy camper. In fact, if they fetched $150, you still have reason to be happy. How come? You didn’t do the work yourself. You hired somebody else to do it. The only thing you risked is your money.
All the heavy lifting and analysis was done by somebody else. You’re still making money. You made 50%. You can then scale this up. You can hire more service providers to turn up more digital assets and then you can turn around and sell these to even more people.
There are actually mature businesses based on this business model. To know the inner workings of this Fiverr based business model and to avoid common mistakes and money losing traps, click here.
Resell cheap Fiverr services at other higher value locations
The old saying of buy low and sell high is never going to lose value. It was important and valuable yesterday. It continues to be important and valuable today. I suspect that this will remain the case long into the future. If you want to make money, you need to generate profit. It’s impossible to generate profits when you buy something at an expensive price and sell it at a lower price. Where are you going to get your profit? It’s impossible.
It’s all about buying low and selling high. This is the principle behind reselling cheap Fiverr services at other higher value platforms. Believe it or not, there are people making solid money buying services from Fiverr at $5 a pop and then placing ads on higher value freelancing platforms.
Please understand that the order volume usually tracks pricing. This is just a fancy way of me saying that when you charge a very low price, you’re going to get a lot more customers. If you charge a high price, you’re going to get less customers, assuming you get customers at all.
With that said, there are certain platforms that tend to attract people who either don’t know any better, are absolutely clueless about Fiverr or are willing to pay a premium for a job quickly done right. whatever the reason may be, you just need to find these other places.
They can be other classified websites. They can be blog comment sections. They can be forums.
They can be message boards. They can even be specialized places or groups on social media like Facebook groups.
The possibilities are actually endless. Regardless of where you advertise, the key is to stick to the iron rule of buy low and sell high. This is easier said than done because you can’t price whatever service you are selling at a slight margin. What do I mean by that?
You have to compensate yourself for your time. You are sitting down and checking out Fiverr and sifting through the many different gigs on offer takes time. It definitely takes focus. Insist on getting paid for this.
Unfortunately, a lot of people who do reselling want to sell at a very low price and they think that they are going to make up for it by generating volume. In many cases, this is just wishful thinking. The volume doesn’t appear. You may be thinking that you’re making a dollar for every service you resell. Well, think again.
If you are doing a lot of analysis or research to find the right services and the right platforms to advertise on, you might actually be losing money. How come? You could’ve spent that time doing something else that paid a lot more money per hour. Do you see how this works?
These are called opportunity costs. If you’re going to get into the service reseller game, you have to properly compensate yourself. A general rule of thumb is you should markup Fiverr services by at least 50%. In other words, if you are getting Fiverr services for $5 plus the $1 service charge, for the total of $6, you should charge at least $9 for that service.
This way, after you pay off $6, you have $3 to your name. Now, scale this up in terms of volume and this can translate to quite a hefty sum of money. To know the inner workings of this technique and how to do it successfully, click here.
If you want to make money off Fiverr, you have to have a system. You have to figure out how things work and you have to be on your guard. No joke. If you don’t have the proper mindset and you’re just doing thing by the seat of your pants, don’t be surprised to figure out after you have done some number crunching that you’re actually losing money with every deal.
Thankfully, there is a better way to make money predictably and effectively using Fiverr services. Click here to get the inside scoop on how to make a lot more money off Fiverr while spending as little time as possible. It’s not only possible, it’s doable. Click here so you can get the ball rolling on real Fiverr profits.