Happy Tuesday! We hope you had a better long weekend than the folks at NASA did. A key test of their new Artemis 1 rocket was postponed yet again after a hydrogen leak scratched Saturday’s launch. The next attempt may not be scheduled until later this month.
Mentioned in today’s newsletter: Netflix, YouTube, Facebook, Snap, Twitter, and Elon Musk. Plus how to pick the right market to specialize in, two questions to ask before hiring your friends, and why great offers sometimes don’t convert.
Read time: 3 minutes and 14 seconds
Together with AdSkills
The Truth About Scaling to 7-Figures and Beyond in 2022
“Free” traffic is a myth. If you want to get more eyeballs on your offers, you’ve got two choices: you can pay with time or you can pay with money. But so-called “free” or organic traffic isn’t predictable or reliable. You can’t turn it up or down at will. Plus time is the only non-renewable resource you have as a freelancer or entrepreneur.
Enter AdSkills: the gold standard in paid traffic training. Paid traffic gives you a consistent, predictable, and reliable way to turn $1 into $2 or more. From there, turning up the traffic and sales can be as simple as turning on a faucet. That’s why paid traffic is the fastest way to create leverage in your business and scale your impact and income.
As an AdSkills member, not only will you learn how to launch & scale paid ad campaigns, but you’ll also get the stamp of approval that 9-figure companies like ClickFunnels, DigitalMarketer, and VShred look for when hiring freelancers. So if you want to learn how to write killer ads, craft campaigns that convert, and scale offers to the moon on Facebook, TikTok, or YouTube, click here to try a free AdSkills class today.
Making the Rounds
- Netflix planning to charge advertisers $65 CPMs (cost per 1,000 impressions). Compared to an average of $2-$4 CPMs on YouTube and $15-$30 CPMs on Facebook, the streamer is clearly positioning itself as a premium traffic channel with the rate card to match.
- Major layoffs coming at Snap. The company is reportedly planning to lay off 20% of its 6,400+ person workforce after losing close to 80% of its value so far in 2022.
- Oral arguments begin today in Elon v Twitter. The big question is whether Chancellor Kathaleen McCormick will allow Musk to add allegations from a recent whistleblower complaint to his counterclaims against Twitter.
Working With Clients
How to Become a Market Specialist
One of the most important ways to specialize as a service provider is by focusing on one of the Big 3 markets:
The Big 3 are:
These are universal desires we all share.
As markets, they’re constantly refreshing themselves.
Old consumers exit the market as new consumers enter it.
Now, you can go even deeper by specializing in a sub-market or a niche…
For example, within health, you could drill down by specializing in keto diets or bodyweight training.
And in wealth, you could specialize in gold and silver investing or penny stocks.
But until you’ve built up a big track record, it’s unlikely you’ll be able to fill your schedule with client work from just ONE sub-market or niche…
That’s why it’s best to focus on the market instead.
It’s broad enough to offer a ton of opportunities, but specific enough to give you an advantage as a specialist.
So decide which one you’re most interested in or have the most experience with…
And turn it into your specialty.
Not only will this help you attract higher-paying clients and charge more for your services…
But you’ll also save time on research…
So you can increase your output and your income.
Working For Yourself
Thinking About Hiring a Friend? Ask Yourself These 2 Questions
If you’ve ever thought about scaling up your freelance business from a one-person operation to a full-fledged agency…
Or are thinking about starting a new side hustle…
Then an important question to consider is:
Should you partner with (or hire) your friends?
On one hand, the people you work with represent a huge chunk of your day-to-day interactions, especially as you get older…
So wouldn’t it be nice if one (or more) of those people were your friends?
But on the other hand, adding a business layer to an existing friendship requires a strong foundation and stellar communication — and even then, things can still go wrong.
Ultimately, there’s no “perfect” answer…
Because regardless of whether you choose to hire your friends or not…
The two key things you should be screening for are:
1) Competence (can they do the job?)
2) Culture (will they fit in + influence others in the way YOU want?)
Friends may get top marks in the Culture category, but lack the skills and experience you’re looking for…
While outside hires may have the competence you need without being a culture fit.
Great hires should score high in both categories.
Tools We Love
Why Great Offers Sometimes Don’t Convert
There’s nothing worse than helping a client with the copy, design, or strategy for a new offer…
Only to find out the landing page doesn’t convert.
But before you scrap it and go back to the drawing board, make sure to test the page speed.
According to HubSpot, website conversion rates drop by an average of 4.42% with each added second of load time.
And in our experience, most hosting providers are not built for speed.
That’s why we use Kinsta to host our WordPress websites.
Their global content delivery network includes servers in 200+ cities worldwide to give you blazing fast page speed…
So you can maximize conversions, sales, and profits.
Join 24,200+ companies who’ve made the switch to better, faster hosting with Kinsta today.
Looking for clients? These freelance jobs were posted on Upwork in the last 24 hours:
Quote of the Day
“Art is the elimination of the unnecessary.”
— Pablo Picasso