Up to 22.5 percent of people who take Effexor experience insomnia. Among the symptoms of insomnia are difficulty falling asleep, waking up often during the night and not being able to fall back asleep, and waking up too early in the morning. A few suggestions for better sleep include keeping a regular sleep-wake cycle, not exercising within two hours of bedtime, and napping no later than 3 p.m. If you are on Effexor and insomnia becomes a problem, let your healthcare provider know.