Happy Friday! Forecaster extraordinaire Punxsutawney Phil saw his shadow yesterday, predicting colder temperatures for the next six weeks. Boo. Luckily for us, heâs only right about 39% of the time â so right on par with your local weather person.
Discussed in todayâs newsletter: ChatGPT, TikTok, and LinkedIn. Plus the improv artistâs secret to stacking high-income skills, and why sacrilege pays at the Temple of Zuck.
Read time: 3 minutes and 40 seconds
Making the Rounds
- ChatGPT begins to monetize. The viral chatbot has begun to sell subscriptions for $20 a month that come with priority access, faster response times, and early use of new features. Itâll take more than a couple to defray their estimated $100k/day operating expenses.
- TikTok beefs up DM options. The surging short-form video platform has expanded who you can receive DMs from to better compete with Facebook and Instagram.
- SEO options for LinkedIn articles. Authors can now customize SEO titles and descriptions when they publish articles on the platform.
Working With Clients
The Improv Artistâs Secret to Stacking High-Income Skills
The fundamental principle of improv is:
âYes, andâŚâ
What does this mean?
Instead of rejecting whatâs been said, you learn to go with the flow and build on it.
And this doesnât just apply to the stage â it also applies to your freelance career.
If youâve developed a solid relationship with a client, theyâll often ask you if you can (or want to) tackle another project before they look elsewhereâŚ
Even if itâs outside your wheelhouse.
Now, it can be tempting to refuse out of fear that youâll bungle itâŚ
But so long as theyâre not asking you to build a rocketâŚ
Itâs often better to say âYES!â and then figure the rest out later.
Opportunities to learn on the job are worth their weight in goldâŚ
And if youâre still in the early stages of your freelance careerâŚ
Meaning youâre still working to stack high-income skills so you can raise your rates, land better clients, and create more freedom in your lifeâŚ
Then make âyes, andâŚâ your new life motto.
Aim to capitalize on every chance you get to demonstrate your resourcefulness, expand your skill set, and learn more about what you enjoy doing.
From The Paid Ads Gig
Why Sacrilege Pays at the Temple of Zuck
What makes Facebook ads so powerful?
The almighty algorithm.
Its ability to optimize ad targeting over time is second to none.
Even in this post-iOS 14 hellscape.
Problem is, the Facebook algorithm needs 50 conversions per week, per campaign, in order to optimize properlyâŚ
⌠Or so it says, anyway.
Now, the more data you can feed it, the better it will do, naturally.
But this conversion volume benchmark creates a dilemma for advertisersâŚ
Should you optimize for an earlier conversion (like Leads) or the end conversion (like Purchases)?
For exampleâŚ
If youâre selling a high-ticket product or serviceâŚ
One lead might cost you $20, while one sale might cost you $2,000.
So to hit 50 conversions per week, you need to be spending $100k a week⌠which comes out to just over $14k per day.
Now, if youâve got the budget â great!
But what if you donât?
Well, on the one hand, optimizing for Leads means more scrumptious data for the algorithm to snack on.
But like any campaign, a lot of those Leads wonât be a perfect fit for your productâŚ
Which means your results (in terms of sales) could actually get WORSE over timeâŚ
As the algorithm focuses more on finding people likely to become leads, not buyers.
Thatâs why you should always experiment with Purchase-optimized campaignsâŚ
Even if you canât hit 50 conversions per week.
Ultimately, Facebook knows who the buyers are.
So we often find this conversion objective yields better results than Leads, Registrations, etcâŚ
Even when weâre *not* spending enough to hit 50 pixel fires a week.
Now this doesnât mean it works every timeâŚ
But if you or a client worship at the Temple of Zuck, donât be afraid to challenge assumptions.
Sometimes crime sacrilege pays.
Gig Alerts
Looking for clients? These freelance jobs were posted on Upwork in the last 24 hours:
- Logo Design for my company
- Need Expert Copywriter for High converting Funnel
- Experienced Sales Funnel Builder for Online Course Sales
- Google Analytics Expert
- Facebook Ads
- Website Designer to redesign site
NOTE: We only share job postings from Upwork. Weâve found it to be the most trustworthy platform with the highest-quality clients. Furthermore, job postings must be for high-income skills like copywriting, media buying, funnel building, graphic design, remote closing, etc in order to qualify.
In Case You Missed It:
- Monday: đŞ The future-proof freelancer
- Tuesday: 𤢠Ugly truth about networking
- Wednesday: đ 1 simple trick to tickle their senses with the written word
- Thursday: đ¤ The 20-20-20 Rule
Quote of the Day
“Every action you take is a vote for the type of person you wish to become.”
â James Clear
Tools of the Trade
Looking to upgrade your toolkit? Here are some of our favorite tools we use to powerful our freelance business:
- ConvertKit â Email marketing for creators. Simple, easy to use, and very cost-effective.
- âKinsta â Super fast website hosting trusted by 25,000+ small businesses.
- Fireflies â AI note-taker that can record client calls + create searchable transcripts.
- âKrisp â Eliminates echoes and background noise on calls and meetings using AI.
- âWise â Unbeatable rates on currency conversions. Saves you a ton of money if you’re an international freelancer.
* Some of these are affiliate links. This means we may receive a small commission if you sign up for a paid subscription (at no extra cost to you.)