A Look Back at 2024: My Fiverr Update on Finances and Operations
It’s been 7 months since my last update here but it’s time to be back and share with you what happened to my Fiverr journey this year.
Honestly, I really want to make this newsletter a weekly thing and keep you updated with everything that is going on behind the scenes. I can say that about a month ago I made one of the most important hires and it took a long time to find the right candidate for this. But this person is working fully on my communication on Fiverr and helping with building a sales funnel as well which added almost an extra $10k in active orders just in the past month on Fiverr.
Before I go into the strategies I used to help me surpass $300k on Fiverr this year, let us take a look at the overall finances for the year, where you can see I had some ups and downs as well.
It’s for sure one of my successful years on Fiverr but this year has also been a tough period after March, when I had to completely restructure my main Instagram Growth Service which went through changes again. Yes, I have experienced this a few times before and I am still trying to push this service because I truly believe it can bring a lot of value to people who are trying to grow their Instagram accounts.
But besides that, this year we really took the next step into developing our content service to a higher level. The systems got better and now we have more designers on the team as well. My plan for 2025 is to ensure that our content service surpasses the Instagram growth one.
What have I implemented recently?
Together with my new team member, we created a brand-new “mastersheet” where we keep track of all new, active, delivered, and completed orders. This allows us to effectively re-engage past clients and encourage them to move into a subscription model.
We have significantly improved my response time. My response time is now down to 4 hours, compared to 7 hours just a month ago. I have noticed that when I respond quickly and maintain continuous communication with a potential buyer, I am able to close the deal faster.
Most of my orders are now subscriptions. We have started to actively promote this option to clients and they appreciate this approach because it provides them with better rates and ongoing work without any breaks or pauses.
I am also working on a secret project that I will most likely reveal in January, but it has already been a game-changer for communication and managing leads on Fiverr. I am so excited to share this with you soon!
All of these things are amazing, but I want to remind you not to fall into the Fiverr bubble.
Don’t get me wrong, Fiverr can be absolutely amazing and generate $10,000+ per month in revenue. However, it is easy to fall into their system and become completely dependent on it.
Instead, try to approach it differently by hiring people to help you with your processes and setting up better systems. This way, you can keep your time free to focus on building your agency directly or creating different income streams. At the end of the day, consider this: at any moment, your Fiverr account could potentially be deleted and your entire business could disappear in a single day. I hope this never happens to you, but the risk is always there.
Some ideas that you can develop from your Fiverr journey:
You can start offering gig audits or doing 1:1 consulting calls with other freelancers.
Create a TikTok, YouTube, Instagram, or X account and start documenting your Fiverr journey, including your progress, results, and sales. If you want to build something of your own, you will need a social media presence. Start now and in 2-3 months, you can already have a solid audience. Here is how Marko is doing it.
You can also create a digital product, such as a mini-course, templates, or something similar. This can generate significant additional revenue as well.
Creating a coaching program is something different from 1:1 consulting or selling a course. With coaching, you are selling the results that people will achieve by joining your program.
Starting a newsletter like this can open up monetization opportunities, such as selling sponsorships or turning it into a paid subscription. Personally, I just want my newsletter to be consistent and provide value to you :)
I am always happy to hear about your feedback, journey, and progress as a freelancer, marketer or designer, so feel free to reply to this email if you have any questions.
See you next week!