Tuesday, 2 May 2017

How to Make $500 per Month on Fiverr

Fiverr is a website where sellers offer to do various tasks, called Gigs, for five dollars each. It makes it easy for buyers and sellers to connect and Fiverr handles all the payment processing, so both sides are protected against getting scammed.
 
How to Make $500 per Month on Fiverr


It's a great site for both buyers and sellers but in this article, we're going to focus primarily on using it as a seller. We will look at a couple of advanced strategies that you can use as a buyer, but first, let's look at some of the ways you can make $500 per month selling on Fiverr.

4 Gigs a Day


If you break it down by the numbers, you'll need to sell 125 gigs per month to make $500. You see, Fiverr keeps $1 out of every $5 gig as their fee; so 125 gigs will net you $500.

That might sound like a lot, but if you break it down it's only about 4 gigs per day.

Now, if you're performing a service of some kind, that means you need to do it four times a day on average, every day for a month.

This is one of the reasons that a lot of people think Fiverr is not worth the effort. It seems like a lot of work to bring in that $500 if you look at it like this. Fortunately, you don't necessarily have to put in all that time every day, week after week, to earn the money.

The secret to making some decent money on Fiverr without burning yourself out in the process is to offer gigs that give you leverage.

For example, you might sell a report that teaches people how to do something for $5. Once you've written the report in the first place, the only time you need to spend is responding to your buyers on Fiverr and sending them the report.

If you sold 4 per day, you could literally handle this in 10 minutes or less once you create a system for it.

Let's look at a few ideas for gigs that you could offer that will give you this type of leverage.


Quick & Easy Product Creation


We already mentioned selling a report on Fiverr. You could write a report that teaches how to do something that you know how to do and others want to learn. This might be something technical like installing and configuring WordPress, a list of the top resources for people in your market or any number of other things.
But you're hardly limited to reports.

You could also offer videos, audio, PLR articles and many other things that Fiverr users would be interested in.

For example, let’s say you know how to use Photoshop to create simple header graphics. This is something that a lot of marketers need to do, so you could write a report or record a video showing them step-by-step instructions for doing it.

You could even create a back end for your gigs by creating multiple formats.

Note: A "back end" in the marketing world is other related products that you can offer your buyers once they've bought something from you.

You might have a report and a video and sell them through two different gigs. Each one could recommend the other to your buyers, so someone who buys the report hears about the video and vice versa. Doing this would double your sales from a certain percentage of the people who buy your gig.

These products don't have to be flashy or take a lot of time to produce. People are spending $5, and as long as the information is good and the presentation is acceptable, they're going to be happy.
But even if it takes you a few hours to create one of these products, you can keep selling it indefinitely once it's done. The ROI (return on investment) on the time it took you to create it will get better and better over time.

"Stock" Photos


Stock photos are pictures that you can use for your own purposes without having to pay royalties to the photographer. They can be used on websites, in books, on brochures or any number of other places.

Most stock photos are quite expensive though, particularly for small businesses and entrepreneurs who don't have big budgets to work with.

You could take pictures around where you live, or in places you visit, and sell them on Fiverr for other people to use, royalty free. You might sell them individually, or bundle several related pictures together.


And you don't have to be a professional photographer to do this. As long as you can get your camera in focus and have the slightest ability to frame the subject of the photo nicely, people will be interested.

Website Graphics


There are always marketers and webmasters in need of graphics for their websites:

* Header images
* Product graphics (ecovers, CD cases, etc.)
* Buttons, bullets, etc.

If you have some skills with Photoshop or other similar software, or even if you have software that automates the creation of these types of images, you can sell them on Fiverr.

This is obviously going to depend on how much time it takes you to create an image, but if you're fast enough you can make a decent hourly wage this way.

Resell Software Services


There are various software applications that will automate certain functions that many webmasters are always looking for. SENuke or other link generation tools, keyword research, and various other applications can be "resold" to buyers on Fiverr.

For example, if you have a subscription to SENuke, you could sell a basic link building service on Fiverr. Because the software automates a lot of the work, you don’t have to spend a lot of time to do the work manually.

These types of gigs can also be a good way to create a sales funnel that lets you make more money off of each Fiverr buyer - but we'll discuss that in more detail shortly.

Offering these services via Fiverr can also help fund the cost of using these types of applications yourself. You might not be able to justify the cost of them for your own use, but if you can resell the services it can pay for some or even all of the software cost, which means you get to use it yourself at a discount or even for "free".


Anything That Takes You X Minutes


If you want to offer a job for which you have to actually do the work each time, the best way to analyze it is to break it down into dollars per hour.

For example, if you want to make $20 per hour for the gigs you're offering, you would shoot for tasks that take you about 10 minutes to complete. At 10 minutes per job, you could theoretically do six per hour, but there's going to be a little bit of time required to respond to your buyers and so on, so you can probably average about 5 of these tasks per hour.

Because you pocket $4 out of every $5 gig, five gigs per hour will net you $20.

Just adjust this accordingly for what you want to earn per hour, and then determine what kind of tasks you can realistically accomplish in that time.

And as it happens, five gigs per hour is pretty close to what you need to do in order to earn $500 per month… just for working an hour per day.

Getting Ideas From Fiverr Itself


Another good source of ideas for gigs that you can sell is Fiverr itself. There are two ways you can use the site to research ideas.

The first is Fiverr's "Request Gigs" section. Fiverr lets buyers request a gig, and then shows a list of the recent requests on the home page of the site. You can scan through this list to see if there are any gigs that you're both capable of and willing to do for $5.

Just be warned that some of the requests are a little crazy. For example, one of the requests listed as I write this is "Make an iPhone application for our website." I don't think there are going to be a lot of takers for this job at only $5.

But you can find gig requests that are a little more realistic, so it's a good place to watch for ideas. And keep in mind that if one person is looking for the job, chances are there will be other people who might also need the same thing.

This can be a good place to find ideas for ongoing gigs.

The second way to use Fiverr for research is to look for gigs currently being offered by other sellers that you are knowledgeable about, particularly gigs for which you could create a report or training video.
This goes back to the quick & dirty product creation idea, but if people are currently paying $5 per job on Fiverr, it's quite likely some of them would pay $5 for a report or video showing them how to do it themselves.

If they need the same job done on an ongoing basis, this can be a good investment for them. Pay you $5 once to learn to do it themselves compared to paying $5 per job to other sellers.
Again, the time you put into creating the product is a one-time investment. You can keep selling that product as long as the information is valid.

Promoting Your Gigs


A big part of earning a decent income from Fiverr is promoting your gigs effectively.

If all you do is post them to Fiverr and wait for the orders to roll in, you're probably going to be disappointed. There are likely a lot of sellers offering similar things, and your gigs can get lost in the flow - especially when you're new and don't have a lot of reviews yet.

Rather than take a passive approach, you should actively promote your gigs in as many places as possible. Here are a few of the promotional methods that can work quite well…

Facebook & Twitter


If you have followers on these sites that would be interested in what you're offering on Fiverr, make sure you let them know about your gigs. And if you don't have followers who are interested, you should get out there and start networking more to find some.

Don't overdo it - too much promotion and people will simply tune you out or unfollow/unfriend you. But as long as you're building good relationships and giving your followers value, throwing in the odd promotion isn't going to be a problem.

And if you're offering good value for their five bucks, they're going to thank you for it. Plus, because you're connected with these people outside of Fiverr already, the Fiverr gigs can lead to more significant direct work. We'll discuss "going direct" in more detail shortly.

Forums


Forums are another place that you can promote your gigs.
Most forums let you create a "signature" that gets added to the end of every post you make. If you put a link to your Fiverr gigs in that signature, every time you post something on the forum, that link will be included.

This lets you interact with other people just like you always have - no hard selling required - but lets them see what you're offering. If you're a contributing member of the forum and have a good reputation, a certain number of people are going to click through on your link if it's something they're looking for.

Just make sure you check the rules of the forum before doing this. Every forum has its own rules and regulations and you want to make sure you don't contradict them somehow, even if it's unintentional.

YouTube


YouTube is another great place to promote your gigs.
When you post videos, you can include a link in the description. As long as it's a bare link - something like http://www.yourdomain.com - it will be "live" so people can click on it.

It's best to put the link at the beginning of the description so it shows up even in the snippet of the description that gets shown by default.
Create simple videos using a tool like Camtasia or Animoto.com and upload them to YouTube. Make them about a topic that is related to your gig so people who view them are more likely to be interested in what you're offering.

Another tip for promoting via YouTube is to use a URL shortener like bit.ly to redirect people to your Fiverr gigs. This will shorten the link so it will definitely fit into the description without getting cut off.


Fiverr Arbitrage


Arbitrage essentially means buying something at one price and then turning around and selling it for more someplace else. So when we say Fiverr arbitrage, it means buying a service on Fiverr and then reselling that service to someone else outside of Fiverr.

Let's look at a simple example. Let's say you are working with a local company to help them get more traffic to their website. One of the strategies you use might be press release submissions.

Rather than doing the submission work yourself, you could buy a Fiverr gig that will submit the press release to a certain number of PR websites for $5, and charge the company you're working with a higher price.

This is essentially a simple form of outsourcing.
You could even take it a step further and not only hire someone on Fiverr to do the submissions, you could also hire someone to write the press release itself. The two gigs cost you $10, and you then charge your client a markup.

You can easily sell these services for four or five times your cost, and often much more than that.

Another way you can create arbitrage deals on Fiverr is to create packages from other gigs that you can turn around and sell through your own gigs.

Let's use article writing as an example. You could hire five Fiverr sellers to each write one article about a particular topic, for a total cost of $25. You then create your own gig selling those five articles in a bundle for $5, giving your buyers "private label" rights - the right to use the article however they want.

One dollar per article is a great deal for your buyers, and you only need to sell six gigs to make a profit. After that, every additional sale is pure profit for you.

These bundling deals can be done with many types of Fiverr offers:

* Graphic creation 
* Writing
* Audio recording
* Video creation
* etc

You can build your reputation, get some reviews and testimonials from your buyers and test out different offers. But in most cases, the gigs that you're offering for $5 on Fiverr would sell for more than that elsewhere.

Once you establish yourself, look for opportunities to sell your products and services in more profitable venues. Even if you only sell them for $10 instead of $5, you can double your profit from the same amount of work... I hope you learn something from my article...Good Luck
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Mininely is An experienced blogger, who has been on the internet for the past 5 years. Is a Graphic Designer / blogger writer / Finance / SEO Strategist.

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