Fiverr is a global online marketplace headquartered in Tel Aviv, Israel. It was founded in 2009, and launched in 2010. Fiverr’s business model is based on the buying and selling of micro-jobs, small services that freelancers offer such as designing a logo or producing a video script. By 2012, Fiverr was hosting more than 1.3 million jobs. It has also been ranked among the top 100 most popular sites in the U.S. and top 150 in the world. The platform reports that a gig is bought every 5 seconds and that more than 25 million projects have been completed.
How to get started on Fiverr as a freelancer
Getting started on Fiverr is very quick for freelancers. All they need to do is register a profile, and then post their gig (the micro-job). The platform differs from other similar online marketplaces in that freelancers can use multimedia to advertise their services. For example, many Sellers (those offering a service) choose to explain their service via video. This offers creative freelancers an opportunity to deliver a personal and persuasive message to clients.
Sellers typically offer a low priced service ($5) to begin, but can boost their income by offering extra services to the client during the order process. For example, a client may purchase a 100 word product description, and can lengthen it by 200 words for an additional fee.
Sellers receive payment as soon as the service has been completed, which is an advantage because it means that there are no delays in receiving their earnings, although Fiverr receives 20% of the earnings. Sellers also have the option to promote their gigs, ensuring that they will appear in the top positioning for their category. Fiverr charges for this service, requiring Sellers to part with a portion of that gig’s earnings as the promotion fee. The minimum fee is 5% and the maximum is 15%.
As with many other platforms, Sellers receive feedback from clients, which in turn becomes their reputation on the platform, represented as a 5 star rating. All users can read client reviews on a Seller’s profile. Reputation is important on the platform because Sellers who consistently produce high quality work and garner positive feedback will be given special status in the form of Levels (1-2) that are assigned to their profiles. Fiverr editors will also invite the very best Sellers to become Top Rated Sellers. Possessing one of these special statuses grants more gigs to a Seller, additional gig extras, and prioritized customer support.
How to get started on Fiverr as a client
Clients can begin searching for a service immediately after registering. They can browse through the various categories or use the search function to find a particular seller or service. After they’ve found a suitable service all they need to do is place their order, list their requirements for the service, and proceed to payment. During this process, the client can also select any extra services that the Seller is offering.
If a client is unsatisfied with the service they receive, they can request a revision. They can also dispute an order in the Resolution Centre, an online communication tool. After the service has been completed, the client can then rate the Seller and leave feedback.
Fees and additional services
As mentioned above, Fiverr deducts 20% of Seller earnings as a service charge.
There are no fees required for clients, but clients may encounter processing fees when paying by credit card.
Payment methods for clients and freelancers are:
- Credit Card
- Debit Card
- Fiverr Balance
Pros and Cons for freelancers using Fiverr
- Any kind of gig can be created
- Multimedia advertising for gigs
- Huge community of freelancers to connect with
- No membership fees
- Instant payment
- Extra perks for consistent performers
- 20% service fee
- A lot of competition
- Low pay
Fiverr is a platform that is accessible to all freelancers, regardless of their experience, although new users may struggle to find work due to the high levels of competition they will face. However, freelancers with genuine skill and the ability to market themselves well, may succeed on this platform. This is especially true for those who have something unique to offer.
Pros and Cons for clients using Fiverr
- Quick registration
- Free to use
- Affordable freelance talent
- Freedom to choose the level of service offered
- Payment is required before the service has been completed
Fiverr is a very accessible platform that connects clients with a wide variety of affordable freelance talent, although there is some risk involved with paying for a service before the product has been delivered. Clients who are willing to accept this risk may find that Fiverr meets their business needs nicely.
Do you have any experience with this platform? Let us know in the comment section or rate it above.