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. According to the data, businesses are increasingly aware of the performance value of short-form video content, specifically on YouTube, and there is growing interest in leveraging generative AI tools, such as ChatGPT and Midjourney. Additionally, 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.”
The index data shows that businesses and marketers are investing more in short-form video platforms, such as YouTube Shorts, Instagram Reel Editor, and TikTok. YouTube Shorts has emerged as a major revenue channel for brands and creators alike, surpassing 50 billion daily views earlier this year, according to a report by Martech Cube. Searches for “YouTube Influencer” alone increased by 145%.
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.” 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.
Sources: https://www.martechcube.com/bite-sized-videos-and-a-i-tools-are-on-the-rise-among-businesses/
