Bite-Sized Videos and A.I. Tools are on the Rise Among Businesses, According to Fiverr
April 18 2023 - 3:00AM
Business Wire
Fiverr's 7th Business Trends Index also shows
e-commerce businesses are looking for experts to help them draw in
cost-conscious customers amid an economic downturn.
Fiverr International Ltd. (NYSE: FVRR), the company that is
revolutionizing how the world works together, today released its
Spring 2023 Business Trends Index, a collection of trending
searches for services on Fiverr's platform. Among the millions of
searches on the marketplace, these services saw the largest
percentage increase over the last six months.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230418005277/en/
Fiverr released its Spring 2023 Business
Trends Index, a collection of trending searches for services on
Fiverr's platform. (Photo: Business Wire)
Rapid shifts in the world of technology, coupled with an
uncertain economy, have tested businesses’ ability to quickly adapt
and evolve. Business leaders have shown they are eager to pivot
their organizations and are looking to the latest platforms,
technologies, and talent to elevate their businesses. This theme
unites the top three trends that emerged: (1) Businesses are
increasingly aware of the performance value of short-form video
content, specifically on YouTube, (2) there is growing interest in
leveraging generative AI tools, such as ChatGPT and Midjourney, and
(3) e-commerce operators are looking to strategically elevate their
business to compete in an economic downturn, leading to demand for
Etsy and Shopify related services.
“While many business leaders are confronting the challenges of
an unstable economy, never before have there been so many advanced
tools and technologies at their fingertips,” said Hila Klein, COO
of Fiverr. “The data we uncovered underscores their willingness to
embrace nascent platforms, such as generative AI tools, and explore
new strategies to keep their organizations competitive. It also
reveals the key role freelancers play in providing business leaders
with the skills and external expertise they need to quickly
integrate these platforms and re-strategize, helping organizations
of all sizes grow and evolve.”
These are the trending global searches over the past six
months:
Short-form video content dominates social strategy
TikTok disrupted the market with short-form video, and now other
social platforms such as YouTube and Instagram have created their
own short-form video features. YouTube Shorts has emerged as a
major revenue channel for brands and creators alike, surpassing 50
billion daily views earlier this year. The index data shows
business leaders and marketers are investing more in this channel
and similar platforms, taking advantage of the ad potential and
exposure of short-form video. Given the dramatic growth in
popularity of YouTube Shorts specifically, searches for “YouTube
Influencer” alone increased by 145%.
- YouTube Shorts Video +64,624%
- Instagram Reel Editor +4,760%
- TikTok manager +1,445%
Integrating AI technology
As businesses have become aware of new opportunities to advance
through AI, searches for AI-related services on Fiverr have
skyrocketed. The number of searches for “ChatGPT” in the last six
months is comparable to searches for “Facebook” and high-demand
services such as “Product Design.” Many companies are exploring
ways to integrate AI into their business platforms and working with
skilled freelance developers to build custom solutions. Since the
beginning of the year, earnings for freelancers offering technical
AI services—such as AI app development—were responsible for the
majority of revenue for AI-related services overall.
- AI Art +6,967%
- AI +1,088%
- Artificial Intelligence +56%
Etsy and Shopify businesses strategize to keep customers
shopping small
While the full impact of the global economic downturn remains
uncertain, there are signs consumers have become more
price-conscious and are cutting back on spending. Business owners
are looking for experts to help them tailor their strategies.
Searches for freelancers with expertise as strategists on Etsy and
Shopify saw a major uptick, as business owners look for guidance on
how to draw in new and retain existing customers in a challenging
market.
- Etsy Sales +5,348%
- Etsy Digital Planner +2,366%
- Shopify Manager +1,065%
Fiverr’s Business Trends Index also breaks down the
fastest-growing searches for businesses in Australia, France,
Germany, Israel, the Netherlands, Spain, and the U.K. A
country-by-country breakdown is viewable here.
About Fiverr
Fiverr’s mission is to revolutionize how the world works
together. We exist to democratize access to talent and to provide
talent with access to opportunities so anyone can grow their
business, brand, or dreams. From small businesses to Fortune 500,
over 4 million customers worldwide worked with freelance talent on
Fiverr in the past year, ensuring their workforces remain flexible,
adaptive, and agile. With Fiverr’s Talent Cloud, companies can
easily scale their teams from a talent pool of skilled
professionals from over 160 countries across more than 600
categories, ranging from programming to 3D design, digital
marketing to content creation, from video animation to
architecture. Don’t get left behind - come be a part of the future
of work by visiting fiverr.com, read our blog, and follow us on
Twitter, Instagram, and Facebook.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230418005277/en/
Molly Nolan Sveva Biocca press@fiverr.com
Fiverr (NYSE:FVRR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Fiverr (NYSE:FVRR)
Historical Stock Chart
From Jul 2023 to Jul 2024