Before You Create A Fiverr Gig, Watch This...(If You Want Orders)

Summary

This video highlights the importance of market research for freelancers offering services on Fiverr. It explains that without understanding buyer demand, competition, and how to stand out, many freelancers waste time on gigs that won't succeed. By using practical examples like website design, the video shows how to analyze competition, check reviews, and identify the most profitable niches. It emphasizes that market research is crucial for success and offers insights into scaling a Fiverr business to substantial income, urging freelancers to focus on what buyers want rather than just what they feel like offering.

Takeaways

• 😀 If you're offering a service on Fiverr without market research, you're just guessing and most likely wasting time.
• 😀 Many freelancers fail because they enter competitive spaces without understanding demand or differentiation.
• 😀 Market research is critical to success on Fiverr; it helps you identify what buyers are looking for and which services are in demand.
• 😀 Competition can be assessed by narrowing down search results and analyzing specific categories, like WordPress vs Figma design.
• 😀 Avoid focusing solely on ads; instead, focus on organic sellers to understand the true demand in your niche.
• 😀 A freelancer's success depends on offering a service with demand, which can be seen through orders in queue and client reviews.
• 😀 Pay attention to review counts and prices; look for successful sellers with reasonable prices and a good number of reviews.
• 😀 Low review counts or overly low starting prices may signal a lack of demand or unoptimized service offerings.
• 😀 When researching competitors, focus on their gig packaging, pricing strategy, and what makes their service attractive to clients.
• 😀 Don’t offer services just because no one else is; demand must exist, and sometimes a unique niche may not always translate into success.
• 😀 Freelancers should remember that skills alone won’t ensure success; understanding market demand and positioning your service properly is crucial.

Q & A

Why is market research essential before offering a service on Fiverr?

Market research is crucial because it helps you understand what buyers are actually looking for, what services are already selling, and how competitive the space is. Without this research, you're essentially guessing, which often leads to wasted time and failed gigs.

What is the first step in conducting market research on Fiverr?

The first step is to search for the service you're interested in offering. This will give you an idea of the competition and demand for that specific service on the platform.

How can you narrow down the competition on Fiverr when offering services like website design?

To narrow down the competition, you can filter your search by specific categories such as WordPress, Figma, or Wix website design. This will show you the final number of competitors in each subcategory, helping you gauge the level of competition.

Why should you disregard ads when conducting market research on Fiverr?

You should disregard ads because those sellers are paying to appear at the top of the page and may not reflect organic demand. It's better to focus on organically ranked sellers, as they are more likely to provide a realistic picture of the market.

What are the key factors to consider when evaluating potential competitors on Fiverr?

Key factors include the number of reviews and feedback, the prices being charged, and how active the sellers are. You should also check how many orders they have in the queue and how often they are delivering projects.

How can reviews help you gauge the demand for a service on Fiverr?

Reviews help you understand how much demand there is for a particular service. If a seller consistently gets positive feedback and has many orders, it indicates that there's demand for that service. A lack of reviews or a low number of reviews suggests a service may not be in demand.

What role do pricing strategies play in market research for Fiverr gigs?

Pricing strategies are crucial because they help you understand the market rate for a service. It also shows you whether you can price your services competitively while still maintaining profitability. If most sellers charge higher prices, you may need to adjust your rates accordingly to stay competitive.

What should you do if you find that a niche has very little demand on Fiverr?

If you find that a niche has little demand, it's best to either not offer that service or pivot to a more general service that includes the niche. For example, if Framer websites have low demand, you could offer a broader service like Wix and Framer websites together.

Why do some services on Fiverr fail even if there is no competition?

Some services fail even without competition because the demand may not be as high as expected. Even if no one else is offering a particular service, it doesn't guarantee success if there is little to no buyer interest in that niche.

What is the importance of packaging your Fiverr gig correctly?

Packaging your Fiverr gig correctly is important because it helps attract the right clients and increases the likelihood of conversions. This includes creating well-defined packages, writing compelling gig descriptions, and using appealing visuals to showcase your services.