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How to Set Fiverr Prices: A Fiverr Seller’s Guide

July 31, 2023 / 3,976 Comments

Whether you’re a new Fiverr Seller or you’ve been selling on Fiverr for a while, it can be difficult to know how to set Fiverr prices. You don’t want to set your prices too low and barely break even for your hard work – even if Fiverr is just your side hustle. You also don’t want to set your prices too high and lose potential buyers to Fiverr Sellers with lower prices. Here’s how to set Fiverr prices so you can make a living on Fiverr.

How Does Pricing Work on Fiverr

As a Fiverr Seller, you sell the services you offer by listing “gigs” on the Fiverr marketplace. Each gig can have either 1 or 3 packages. You can offer add-ons to each gig and custom offers to allow buyers to order outside of the scope listed in your gig.

The minimum gig price you can charge is $5. The maximum gig price you can charge is $20,000. Fiverr Pro Sellers’ minimum gig price is $100, and their maximum gig price is $20,000. Fiverr Pro Sellers can send customer offers with a lower minimum and higher maximum (up to $50,000.)

Pricing is set in USD and handled in USD on the Fiverr Sellers’ side, but Buyers see gig and order pricing in their local currency.

How to Set Your Fiverr Prices: Use packages and add-ons to set profitable prices for your business.

Fiverr Gig Packages

Each gig can have either 1 package or 3 packages. Where possible, we recommend offering 3 packages in each gig as it boosts your performance with the algorithm. It also allows you to offer a low-price option which boosts interest from Buyers browsing for your services.

If you choose 3 packages, they generally work like this:

  • Basic Package – The lead-in package offered at the lowest price point. The goal of this package is to entice new clients with a low price. Consider the minimum you can offer that will still give your clients results that have them coming back for more.
  • Standard Package – The second package should be your most popular package. It should offer the expected inclusions and therefore be priced as such.
  • Premium Package – This is your VIP package that goes above and beyond. Consider what inclusions you can offer to make Buyers’ lives easier or what a large business would want from the service. 

When setting your package prices, you can also include add-ons to each package so that Buyers can tailor their order to their needs without having to contact you for a custom offer. You can set the price of the extras and how it will impact the order deadline.

Fiverr Subscriptions

Fiverr has also recently offered subscriptions to entice Buyers to purchase a recurring service in exchange for a discount. The Buyer will purchase a minimum of 3 months of the service in exchange for a discount of 5% or more.

Fiverr Sellers have an order that, in theory, starts on the same date every month (in theory, because Buyers don’t always complete the order requirements on time). Each order in the subscription will be discounted by the subscription discount you offer. For example, if you offer a 5% discount for 3 months and a 10% discount for 6 months, each order in the 6-month subscription will be 10% off the order price. When setting your subscription discounts, don’t forget to calculate that Fiverr will take a 20% discount on the order price (the discounted price.)

Fiverr has said that gigs that offer subscriptions get more Gig Exposure (Read: the algorithm favours them), so it is beneficial to offer subscriptions if you can. Fiverr subscription discounts should balance the benefits of predictable orders with your desired income. When Fiverr subscriptions first started, most veteran Fiverr Sellers raised their prices to factor in the subscription discount.

One downside of Fiverr subscriptions is that Buyers have been accidentally ordering subscriptions. If this happens, the Buyer can contact Fiverr Support to get the subscription cancelled. This shouldn’t affect your order completion rate.

Things to Know When Setting Fiverr Prices

When setting your Fiverr prices, there are two things you need to keep in mind:

  1. Fiverr takes a 20% commission on all payments – including tips!
  2. Fiverr pricing for Sellers is handled in USD.

To calculate the commission, Fiverr will take on your gig, multiply your gig prices by 0.8. For example, if your gig price is $120, calculate your net earnings like this.

$120 x 0.8 = $96.

You will be paid $96 for this gig. Fiverr’s commission will be $24.

Then you need to convert that to your currency. Fiverr does not use the same conversion rate as Google, nor do they share their currency conversion rates. Therefore, as a Fiverr Seller, it is easiest to set Fiverr prices and discuss prices with clients in USD.

A Fiverr Seller’s Guide to Setting Prices: Don’t forget to account for Fiverr’s commission when setting your Fiverr prices.

Can I Change my Rate on Fiverr?

Yes, you can change your rates on Fiverr as often as you want. Most Fiverr Sellers experiment with different pricing to make sure they are at their optimal pricing. That optimal pricing is different for everyone because it balances order numbers and desired earnings.

As a beginner on Fiverr, you should change your rates when:

  • You progress to the next Seller Level.
  • You have received 3-5 more positive reviews from your last price increase.
  • You have learned a new skill.
  • You update your portfolio.

Often as a beginner on Fiverr, you need to set your rates low in order to get your first reviews. Once you progress through the Seller Levels, gain reviews, and have a portfolio, you can start charging market rates. Slowly raise your prices until then.

When you have been a Fiverr Seller for a year or longer, you should review your prices:

  • At least once per year
  • When you learn new skills that benefit your clients
  • When you niche down or specialise

The best time to change your rates on Fiverr is when you update your portfolio. You can set rates that reflect the quality of work demonstrated in your portfolio.

Many experienced Fiverr Sellers will also update their Fiverr prices based on their availability. If they are busy with regular work, they will set their prices high to manage their workload.

How to Price Your Fiverr Gigs

There is no right or wrong way to price your Fiverr gigs. Do what feels best to you.

That being said, you do need to understand the different price points Fiverr Sellers are offering and what expectations clients will have for Sellers in those price points. If you set your Fiverr prices too low, Buyers will be wondering if it is too good to be true. If you set your Fiverr prices too high, you risk complaints because the Buyer expects more because of how much they are paying.

Your Fiverr pricing should reflect the following:

  • Your experience – More skills and experience mean your services are worth more. Buyers on Fiverr evaluate pricing based on how likely they are to achieve the results they want to see. If you can successfully demonstrate your expertise, then Buyers will be willing to pay more. Niching down and sharing professional industry experience can help you justify higher prices.
  • Scope of work – Your gig prices should reflect how much work is involved. As with any business, your pricing should allow you to earn a living without working yourself to exhaustion. The add-ons and package prices should reflect the scope of the work involved.
  • Quality of work – As your portfolio grows, your prices should grow to reflect the quality of your work. Add links to your work or a portfolio in your gig description so Buyers can see what you are capable of when considering your gigs. As you raise your prices and update your portfolio, remove past work that no longer reflects the quality you can create. There is no need to cause confusion.
  • Market rates – Fiverr is a service marketplace where it is really easy for Buyers to compare inclusions and prices. It is important to know what others are charging for similar packages and how to make it obvious that your prices reflect your experience, results, or speciality. (Or all 3.)

Setting Fiverr prices can be a little bit of trial and error at times. Just remember that you can always change your prices back if you are not receiving much interest. You can also increase your prices on Fiverr if you are receiving too much interest.

How to Set Fiverr Prices to Stand Out on Fiverr

The best way to stand out on Fiverr’s marketplace is to set prices based on what Buyers are seeing. We recommend switching your profile to Buyer Mode and browsing for similar services so you can see what Buyers see when they are searching for a service.

One thing that we’d like to highlight is that on the results page, Buyers will see a from price without any context of the inclusions or your experience. This means that they may click on mid-range prices first. There are two ways you can maximise the clicks from Buyers:

  1. Set a low scope and low price Basic Package to stand out on the marketplace page.
  2. Make the scope, inclusions, and/or your expertise clear in your gig image.

It is up to you which works best for your gig.

Want to learn more about starting a business on Fiverr?Read our articles about becoming a Fiverr Seller here.

Read next: Can I Make Money on Fiverr As a Beginner?

 

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