This past Monday, the weekly Monday for Creator’s webinar, hosted by Jan Prochacek and attended by myself (as a guest speaker) was very informative. The topic for the week was “Navigate the Marketplace like a Pro.”
The webinar focused on two key aspects: How to sell on Marketplaces and how to successfully collaborate with freelancers on these Marketplaces.
Being a copywriter who’s established my career primarily freelancing, I shared my insight on how to get started, and how to grow on marketplaces based on my experience and best practices I’ve learned along the way.
As an entrepreneur and digital enthusiast, Jan’s used marketplaces to forge meaningful collaboration with freelancers and shared his insight from a buyer’s perspective.
Key Points Covered In This Webinar:
— How To Get Started As A Creator On Online Marketplaces
— How To Be Successful on These Marketplaces
— The Best Way For Buyers To Find Quality Services On These Marketplaces, and
— Information On How To Find The Best Creator For Your Needs and Projects.
The gig economy has certainly changed the way business is conducted. If utilized correctly, it could have a beneficial impact on your business or project. But, the gig economy’s biggest benefit can also be its downfall – that being, the number of freelancers. Having hundreds of thousands of freelancers on a site provides a buyer with choice, but it also enables bad apples to flourish. If you collaborate with these bad apples the entire experience is regrettable.
We discuss the best ways to avoid the bad apples and find great freelancers.
Navigate The Marketplace Like A Pro
Data About The Gig Economy
To understand the marketplaces it’s imperative that you know the statistics and data that determine how the marketplace is shaped. Jan shared some eye-opening insights:
— 57.3 million people freelance in the United States
— It’s estimated that by 2027 there will be over 86 million freelancers in the US
— 44% of people say freelancing is there primary source of income
— 76% of people say that they would not quit freelancing for a full-time job
As someone whose primary source of income comes from freelancing and who wouldn’t return to a regular full-time job, I was excited to share my perspective on freelancing and marketplaces with Jan. Here are some highlights from the webinar.
Information For Sellers, Freelancers, and Creatives
Topic #1: Strategy For Finding New Clients On Marketplaces
Before working on Fiverr, I freelanced on a smaller marketplace that’s niche was content and copywriting. After forming a small group of regular clients on this marketplace, and to enable myself to become a full-time freelance copywriter, I decided to join a larger marketplace. To find new clients on these marketplaces I developed a two-step strategy.
— Research Each of the Respective Marketplaces
I spent about a month doing extensive research on each of the marketplaces, to understand how they operate and where I’d be able to best apply my skill set. I chose Fiverr because of the experience other freelancers had on the platform. The ease of use stood out to me, in addition to the variety of clients.
Fiverr may not be the best for every freelancer, and that’s why doing your research and assessing the pros and cons of a platform is essential before choosing to join. To create a well-rounded strategy also think about the platform from the perspective of a buyer.
— Create An Introductory Gig
After choosing Fiverr, I decided to create an introductory gig that would attract buyers on the platform. The gig had two things that Fiverr is synonymous with: being cost-effective and having a quick turnaround time. This was intended to generate interest from buyers as a new seller without any reviews, I quickly accomplished this. The idea behind this strategy was that after I had enough reviews from this introductory gig I would increase prices to reflect the “worth” of my gigs. In hindsight, this may not be the best strategy for other creators using these platforms, as trying to raise prices above what repeat clients had expected was difficult, although not impossible. However, taking this route allowed me to develop my value proposition, and I was able to find a happy medium that enabled me to grow on the platform.
Topic #2: What To Do As A New Seller On A Platform Like Fiverr
— Do Competitor Research
Study other gigs on Fiverr. If possible, order the gig of another freelancer on the platform, so you know how the process works from a seller’s perspective. This also gives you a chance to craft your gig in a manner that competes with those in your niche.
Part of your research should also include analyzing the gigs of “Top Rated Sellers” to gain an understanding of what sells on the marketplace.
— Set Up A Gig
The success of your gig is dependent on three things: usage of keywords, reviews, and satisfaction from customers. As a new seller, you don’t have any reviews, and the algorithm hasn’t determined how “satisfied” customers are with your work. You’re left with keywords. Using keywords or words commonly searched for on the marketplace will allow you to gain exposure as a new seller. Therefore, researching keywords is probably your best strategy in the beginning. You should try to place your keyword in three areas of your gig:
Title: your title becomes your URL and so keywords must be present.
Body: The body of the text should include your primary keyword.
Tags: Tags help Fiverr sort related gigs in batches, your gig might appear in recommended if you have similar tags another seller.
Topic #3: What Is Competition On The Platform Like? How Long Does It Take To Appear In The Results?
One thing I’ve noticed is that new sellers have an advantage to sellers who’ve been on the platform for longer. This is because buyers can filter their search criteria so that it only includes new sellers. Once you’ve been on the marketplace for some time you could get lost in the algorithm. Getting lost in the algorithm is something many freelancers have complained about over the past year as Fiverr continuously updates its marketplace.
Therefore, it’s best to invest time and effort into your gig in the beginning and get a few repeat clients who’ll help you establish your presence on Fiverr.
Topic #4: How Much Time Do You Spend Analyzing Competitors?
In the beginning, I would spend 3 or more hours a day analyzing competitors to adapt and improve my gigs. But, as I took on more clients that became impossible to do. In recent months, however, I have been reviewing my gigs and analyzing the competition again. But, as my journey as a freelancer continues, I’m focusing more on growing my brand beyond marketplaces like Fiverr.
Topic #5: Setting The Price – What Were Your Tactics In This Regard?
In the beginning, My gigs were priced cheaply, as these were the introductory prices I spoke about previously. Even if clients would go to “content farms” they wouldn’t find prices like these. However, after a few months, I inflated my prices. Keep in mind, I had only been freelancing for about a year at that time so this strategy was fine for me. Although, for more established freelancers this is not advisable. Your pricing should reflect what you’re willing to work for. You can adjust prices for marketplaces like Fiverr, but in most cases keep it comparative to what you’d expect elsewhere.
However, what I would recommend to sellers regardless of experience, is to start your gig pricing at $5 or $10. Fiverr gives you three tiers to work in. Having entry-level prices enables clients to preview your work and is a great solution for buyers who would otherwise not be able to afford your more premium options.
Topic #6: Getting In Touch With Prospective Clients
On Fiverr, there is also the possibility to get in touch with buyers directly through buyer requests. For newcomers, this is a perfect place to pitch your skills to clients. But for established freelancers, you’re also able to find clients you’re willing to collaborate with based on your criteria. Although, even here there’s stiff competition, so it’s important to create a compelling pitch based on the information provided in the buyer’s brief.
For Buyers, Entrepreneurs, and Go-Getters
Topic #1: Low Priced Gigs vs Higher Priced Gigs
Although Fiverr is known as a marketplace of $5 services, and it’s become a significant part of their brand, the quality of gigs at this price point is quite dismal. However, when increasing your budget to include higher-priced gigs you’ll find sellers that offer what you’d expect from a service provider but not necessarily work you’ll be blown away by. After spending significant time on the site, contacting buyers, creating briefs, and waiting for a delivery that isn’t up to standard, many buyers become discouraged. But, there’s a better way to get good quality freelancers at a reasonable price, and that’s to create a brief.
Topic #2: Quickly and Easily Finding A Freelancer for Your Project By Creating a Brief
When creating a brief, or requesting a custom order, Fiverr asks you to provide specific detail about your brief, including:
— A description of the service you’re looking for
— The category that service would be in
— The time you’ve allocated for the project
— Your budget
Once you publish this custom request, sellers can see it on their end as a buyer request.
Doing it this way is both time-efficient and easier. All you need to do is create a brief that will enable you to get pitches from creators on the platform. You’re also able to see if creators understand your brief and vision for the project, and whether they’re someone you’re capable of working with. To create this brief you’ll find a section on your dashboard titled “post a request.” Once you’ve posted a request and received enough feedback, you can filter through your freelancers based on your specific criteria. Fiverr may also make certain recommendations based on who they think is the best fit for your business. Remember, if you want higher quality submissions, create a brief that will appeal to more established sellers, this includes having a reasonable budget, a reasonable time frame for the project, and a description that gives the seller a greater understanding of your needs.
Now that you have this insight, you can avoid the pitfalls commonly associated with using marketplaces – whether as a buyer or a seller. Although these insights are focused on Fiverr, in particular, the same principles apply to every marketplace.
I’d love to hear your thoughts and input on marketplaces, so feel free to share them.
Also, don’t forget to RSVP to next week’s webinar where the focus topic will be: How To Collaborate With Brands.