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How to Make Money Online: Earning Passive Income with Fiverr.
The World of Online Freelance
At some point in time, I’m sure you’ve attempted or at least thought about dabbling in making money online. Freelancing and earning an income online is certainly an enticing idea. By earning an income on the web you can set your own hours, be your own boss, and work from the comfort of your very own home.
However, for most of us, earning a full-time income online is not an endeavor worth pursuing entirely. With a busy work and home life, along with other commitments and responsibilities, there simply isn’t enough time to attempt a large scale online business venture. Often times, it isn’t even worth the risk. If you have a stable job and can provide for your family, diverting all of your time and energy into the world of online freelancing may not be the best course of action.
But can you make money online as a part time hobby? Can you sell your skills or services online to earn a passive income on the side? Absolutely! And one of the best websites that lets you do this is Fiverr.com
What is Fiverr
Fiverr is an online global marketplace that was founded in 2009. On Fiverr, sellers offer their services at a minimum cost of $5 (some services range up to $500!) The site is home to many freelancers, who offer their services or “gigs,” for prospective buyers to potentially purchase.
What is Offered on Fiverr?
There are millions of gigs currently listed on Fiverr, covering a wide variety of topics and businesses. Typically, the most popular categories where online moneymakers post their gigs are:
- Graphics and Design
- Digital Marketing
- Fun Gags/Pranks
Of course, there are many more niche categories and the gig options are endless! As long as you post a gig and someone out there in the world thinks it’s worth the money, there is the potential for a transaction to occur.
How to Make Money on Fiverr
Now, due to the sheer number of listed gigs, signing up and beginning your part-time freelance work online may seem like a daunting task. However, there are a number of useful tips and tricks I have discovered over my two years of working on Fiverr that can help you get started.
Differentiate Your Gigs
This is perhaps the most useful tip I have for when it comes to making money on Fiverr, or any website. There are thousands of gigs on article writing, Facebook banner design, or recording 30 second video testimonials. But are there many video testimonial gigs where you also dress up as a pirate? Or perhaps you’re so incredibly knowledgeable on a certain topic in science, fitness, or finance that you can blow the competition out of the water? Brainstorm what would make your gig stand out, and don’t dismiss an idea for being too crazy. Crazy is sometimes an immensely useful marketing approach.
Play to Your Strengths
This relates to the importance of differentiating your gigs. Not everyone is a stellar writer, expert in Search Engine Optimization, or a pro with Photoshop. Yet, there are thousands of individuals making a passive income online without an certifications, degrees, or years of extensive training.
I have personally dabbled occasionally with freelance writing on Fiverr or setting up professional Facebook pages, and occasionally I sell a gig. I’ve stuck to what I know and understand, and it lets me have a little side hobby that occasionally makes me $10-20. I don’t invest much time into Fiverr, though if I had more time I could certainly expand my range of gigs and push to attract more clients.
The moral of the story is this: give yourself a starting advantage. If you’re an expert in a field or topic, think creatively, but try to stay within your domain of knowledge and expertise.
Don’t Let Quality Slip
While this is perhaps one of the most daunting features of Fiverr, the rating system buyers can use to rate the quality of your service really is your best friend if you work to make it be. Most buyers on Fiverr or other websites will purchase their service from the users who consistently get 5 star reviews, and this makes sense. Would you go to a restaurant with a 1 star rating and dozens of negative reviews? Of course not.
In the beginning, make the utmost effort to go above and beyond in your services. If you said you’d write up to 500 words for an article, write 600. If you’re making banner images for a social media page, maybe include a second image in your package to give your buyer options. Don’t be afraid to offer bonuses or extra perks as an incentive for early buyers to leave positive reviews. A few 5 star ratings will go a long way over time.
Consider Being a Middleman
One of the interesting things about online marketplaces is how the lack of handling tangible goods can accelerate the buying and selling process. This is something that you can use to your advantage when trying to establish passive sources of income. Consider purchasing services on Fiverr like graphics or video testimonials, and then resell these items. If someone on Craigslist is buying a video testimonial for $10, but you are incapable of producing a video testimonial, that does not mean you can’t act as the middleman and buy a $5 testimonial to then sell for profit.
Smaller companies out there may not be as familiar or comfortable with operating online, and you’d be surprised at how often companies or people overpay for certain services simply because they don’t spend the time finding the best deal. Do some searching, and find a product category where you think there is room for a middleman to make a slice of profit.
Promote Your Gigs
Do you have a decent following on Twitter or Pinterest? What about your Facebook or Instagram? Or would your friends be interested in buying your services? If the answer to any of these questions is “yes,” social media could be your friend.
The power of social media as an online marketing tool is immense, and you should take advantage of this. Don’t be scared to tweet out a post with hashtags marketing your gig, or scroll through popular online forums where someone might be in need of your services. The more you link your gigs to other online platforms, the higher the chance someone will eventually stumble upon your link and click. It’s all a matter of numbers and time.
Make Easy-to-Complete Gigs and Develop Passive Income Sources
This tip follows the logic of “don’t bite off more than you can chew.” If your gig is priced at $5, do yourself a favor and offer something you can complete fairly quickly. Again, don’t skimp on quality, but don’t go writing thousand page essays for a bit of pocket change.
Ultimately, gigs that do not take a lot of time to complete can be a great way to establish passive income sources over time. If you sell a product or service that is easy to automate or takes no time to duplicate, you can use Fiverr to make passive income online.
Some examples of passive forms of income you could make with Fiverr include:
- Selling guides or how-to's
- Selling an eBook
- Selling consulting guides on topics like SEO or making money online.
If you want to check out other great methods to make passive income or make money online, check out my guide: How to make passive income online.
Keep Response Time Low
Fiverr might be an excellent way to earn some income on the side, but you are technically representing yourself as a business and should therefore always remain professional. Buyers won’t purchase your services if they’re left waiting for a week after they send you a inquiry about one of your gigs. Check your Fiverr once a day and respond to messages if you’re truly serious about making a bit of pocket change online.
Some Final Thoughts
Making money online may not be the primary source of income for many freelancers, but with some time and effort, it is possible to earn a passive income on the side. Just stick to what your good at and add some creativity, and throw your services out there for the web to see! There's no harm in trying, and if you stick with promoting your services, you'd be surprised at how much response you can generate.
I hope you have found this Hub to be informative! Thanks for reading, and be sure to share this page with a friend who might interested in starting out their business in the online marketplace.