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Successful Pricing Strategy & Product Differentiation Case Interview [Part 2]:
Lauren Meikle hated the grind of her old day job. She knew there had to be more opportunity for a top film school graduate like herself. So she joined Fiverr, became a super successful creative writer and earned her way to a new life full of sweet rewards, like traveling the world then returning home to her mansion in South Africa.
This interview is the second in a three-part series that gets up-close and personal with Fiverr’s best and brightest. We’ll be digging deep into the secrets of their success, finding out how they structure Gig packages to snag customers and keep them coming back for more. They’ve also let us in on the unique value and special services they offer to stay ahead of competitors.
Today, I talk to Lauren about how she found new life and huge success on Fiverr.
Packages Pricing & Product Differentiation Strategies
Nico: First of all, thank you for bringing your knowledge and experience to the Fiverr community. For those who don’t know you, can you give us a little background on what you offer and what has been your greatest achievement so far in terms of business growth within Fiverr?
Lauren: Thank you for this opportunity. I am a professional copywriter and scriptwriter. Close to two years ago, I was stuck in a full-time job that I hated. I joined Fiverr with no massive expectations; I just wanted to give it a shot. Little did I know that I would one day become a top-rated seller working 10–12 hours a day on Fiverr orders! It’s my full-time job.
I would say that my greatest achievement thus far is the fact that I am literally making seven times what I used to make at my old full-time job per month. In South African rands, that’s a lot of money. Fiverr is the reason I’m buying a mansion, can travel overseas anytime, and live life on my terms.
While I rarely get a real holiday (my laptop is always glued to my side), I’d rather live and work on my terms. It’s a dream come true, and it’s all because of Fiverr. Haha, that sounds cheesy. But it’s completely true. Fiverr has changed my life, and it’s amazing how rapidly I’ve been able to build such a large customer base. That’s what it’s all about on Fiverr – building your reputation so you can live and work anywhere. The sky’s the limit once you’ve made it on Fiverr.
Nico: In 2015, Fiverr introduced the Gig Packages mode. What’s your best advice to get the pricing strategy right and boost revenue? What are the main package elements you particularly focus on?
Lauren: After the Gig packages first came out, it took me a while to start using them. I was skeptical and worried that they would mess with my Gigs. My advice? Don’t be like me back then!
I eventually decided to set up three Gig packages, and my sales really did improve. However, it’s important to get it right and create packages that make sense. Don’t set your basic Gig price too high. When you show up on search results, it says in massive letters that your Gig “STARTS FROM $ **.” I’ve found that this can put people off if it’s too high, especially if the bloke next to you starts at $ 5. Obviously, you don’t want to undersell yourself. That’s why I make my base Gig $ 5. But no one ever really orders that.
My second Gig package is $ 30, and my third $ 75. Clearly it works, as I’m one of the top writers on Fiverr. However, people need to know that these are not the only options you offer. In my Gig description, I urge people to contact me before ordering so we can discuss their needs, and I can provide them with a custom quote. This is where the opportunity to make big money comes in. Gig packages are great. Most people order my $ 75 package.
Make your packages interesting and add extras you know people will love. For example, my premium scriptwriting package is a two-minute script with research. People love this because I take the time to study their company at length, adding immense value to any script.
So, at the end of the day, it’s all about creating packages that set you apart from your competitors. Be affordable, but don’t be cheap. People know that they will get what they pay for, and you’d be surprised how many buyers are willing to pay more money for more quality.
Nico: Product differentiation is a very important element to make your service more attractive and help increase revenue. How do you differentiate yourself from your competitors? What is your added value that makes your services unique?
Lauren: This is very true. As I mentioned before, setting yourself apart from your competitors is so important. For example, if you’re an animator, don’t use those templates that have been regurgitated 1000 times before. If you’re in a position to make your own custom animations, and you’ve got the training and know-how, DO IT.
I make my qualifications and experience very clear. I proofread my Gig description 50+ times to make sure there are no errors. I also make an effort to show versatility; that I can write scripts for explainer videos, commercials, short films, etc. I can also write for any genre and tone – emotive, funny, serious, playful, etc. I make this very clear in my Gig description.
Also – VIDEO! You must have a video on your Gig; one that’s quick, to the point, and shows why buyers should choose you out of all the other fish in your industry’s sea. It’s also vital to maintain good ratings and always be friendly with your buyers. Yes, even the “difficult” buyers. Unfortunately, they have more power than you. One bad review can be devastating, so do everything in your power to keep all buyers happy. On another note, I pride myself on delivering a professional document in an industry-standard format. Treat Fiverr like your full-time job and business, and it will become just that.
I’m glad I got to know Lauren – she really knows her stuff! She fearlessly abandoned a secure, but uninspiring, job and boldly dove into Fiverr without knowing how huge it would be. She’s tactful in her Gig pricing, competing with other doers while making sure she’s being amply compensated for her precious time and amazing talent. And she’s smart to work with even the most difficult customers to really prove she’s got what it takes to be a top-rated seller. This series just keeps getting better, and I look forward to the third and final installment!
Are you a commercial creative writer? How have you used Gig packages to your advantage? Do you have any tips for dealing with challenging requests? Let us know in the comments!
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Have you tried: Travelling to South Africa?