When employers shut their doors at the start of the pandemic in March of last year, employees took to the web, creating freelance side hustles and finding online community, despite the foggy future of the job market.
For many freelancers starting out, platforms like Fiverr, an online marketplace that connects freelancers to businesses who may need digital services, are key to getting their side hustle off the ground. In February 2020, Fiverr announced that freelancers had collectively earned over $1 billion on the platform since the company's launch a decade prior. Last month it announced that number had increased to $2 billion, meaning half of that amount was earned in just over a year.
To help freelancers make the most of their side hustles on Fiverr, graphic design and publishing platform Canva recently published an analysis done on its behalf that takes a look at the earning potential of part-time side hustles, or gigs. Online side hustles are categorized by their completion rate, their increased demand during the pandemic, and their location—in particular, where people are earning more on the platform.
In the U.S., in terms of maximum price for a single job, side hustles like website design command the most money, but looking at average price per job, the report finds that presentation design is the most lucrative. "We noticed that jobs which support the growth of a business's branding, such as social media marketing, web design, and website building were some of the side hustle services that were frequently being offered with the highest average earning potential," a spokesperson for Canva told CNBC Make It.
These are the highest-paying side hustles on Fiverr in the U.S., by maximum price earned:
- Website Design - $700
- Social Media Manager - $675
- Proofreading and Editing - $660
- CV, Cover Letter and Resume Writing - $600
- Website Building - $580
- 3D and 2D Modeling - $550
- Business Consulting - $500
- Social Media Advertising - $500
- Graphic Design - $500
- Presentation - $450
These are the side hustles with the highest average price:
- Presentation Design - $231
- Website Building - $128.90
- Website Design - $105.70
- Business Consulting $98.10
- Social Media Manager - $93.70
- 3D and 2D Modeling - $65.20
- Web Development - $63
- Video Editor - $58.40
- Book Cover Artist - $51.50
- CV, Cover Letter and Resume Writing - $49.60
For its analysis, Canva created a list of more than 50 popular side hustles and searched listings for those services available on Fiverr. It only considered active, "level one" sellers on Fiverr who began their side hustle by March of this year and had completed only 10 to 50 jobs, in an effort to capture a larger share of part-time and newer freelancers.
The data shows a rise in design-based services. For example, customer reviews collected by Canva show that 12 months prior to the pandemic and during state-wide closures, a demand for business card design increased by over 72%, despite some experts suggesting the pandemic would exacerbate the decline of business cards altogether.
Like any customer-driven service, reviews are crucial for freelancers looking to stand out. Having positive interactions with customers can be critical for a freelancer aiming to build engagement and charge higher rates over time.
As as the job market returns to normal and the unemployment rate declines, freelancers may be looking to increase online traffic in an effort to keep up with demand. Making the most out of your side hustle, Canva experts suggest, is reliant on building your brand, planning a strong marketing strategy and getting customers excited about the services being provided.
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