Happy Monday! Welcome back to The Gig, the private daily email helping 2,000+ freelancers go beyond the 9 to 5 and conquer the gig economy.
Mentioned in today’s newsletter: Florida, TikTok, Twitch, and the Supreme Court. Plus one common mistake freelancers make when pitching big clients, an alternative to the 4-hour work week, and how to let the dough rise inside your ad account.
Read time: 3 minutes and 55 seconds
Together with AdSkills
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Making the Rounds
- Controversial Florida social media law heads to Supreme Court. The law would allow users to sue platforms if they think their content is being unfairly moderated, and allow the state to fine them for banning political candidates. The underlying question is whether states should be able to individually regulate social media platforms, a decision that would have major ripple effects across the industry.
- TikTok shutting off advertising features for political accounts. The platform is also cutting off access to monetization features like tipping and e-commerce and making verification mandatory for politicians ahead of the midterm elections.
- Twitch sunsets 70/30 subscription revenue share for premium creators. The changes won’t take effect until next year, but top streamers who were previously on a 70/30 split will now only get 70% of their first 100k, and then 50% of all revenue after that. To offset the change, Twitch has shifted its ad revenue program from a fixed rate on a per 1,000 impressions basis to a 55% rev share on all ad revenue from their channel.
Working With Clients
Don’t Make This Common Mistake When Pitching Big Clients
Making an irresistible offer is key to winning big clients.
But going overboard just to close a deal you really want to land can backfire in a big way.
Specifically, there’s one common mistake freelancers make when pitching that…
– Destroys their positioning
– Slashes future earnings
– And shortens the customer lifespan
What is it?
Discounting your services instead of doing something for free.
You see, once you discount your price…
That’s what the client will value your service or offering at until the end of time.
You’ve created a price anchor.
And no matter how well you deliver for them…
That discounted price will always drag your perceived value down like a weight around your ankles.
So if you’re struggling to overcome a price objection, offering to do something for free is a much better option.
Because you get to bank the goodwill and relationship equity without devaluing your services in the process.
Working For Yourself
Forget the 4-Hour Work Week (Do This Instead)
The 4-Hour Work Week is not realistic for most of us.
(It’s still a great book, though.)
And while even a 4-day work week would be a major upgrade from spending a full 5 days at the slag heap every single week…
Here’s a simple hack that can make the workweek easier to bear:
Structure your workload so you start strong but then taper down throughout the week.
This means stacking Mondays with as much work as you can possibly handle to get ahead and create a buffer…
Then slowly and steadily taking your foot off the gas…
So Friday can be a much more leisurely work day to cap off the week.
Here’s what it might look like in application:
- Monday: 10-12 hours
- Tuesday: 8-10 hours
- Wednesday: 8-10 hours
- Thursday: 6-8 hours
- Friday: 4-6 hours
Now, will this be possible every week?
And it’s probably not for everyone.
But if you struggle with the monotony of a uniform work week or have ever wanted to shake up your schedule…
Give this a try.
Easing into the weekend with a lighter and/or shorter Friday can feel mighty nice.
From The Paid Ads Gig
How to Let the Dough Rise Inside Your Ad Account
If you’re running a paid ads campaign that’s converting…
There are two main ways to scale it:
1 – Vertical scaling
Where you increase the budget on winning ad sets and/or campaigns.
2 – Horizontal scaling
Where you take winning ads and roll them out to new audiences.
Once you’ve hit on something that works, vertical scaling is the easiest to start with.
But depending on your audience, offer, and platform, you’ll eventually bump into a budget ceiling.
That’s when horizontal scaling comes into play.
Pro tip: the best way to achieve horizontal scale is to reposition your offer.
For example: a biz opp/make money online offer might start out being positioned towards young professionals as a way to escape the 9 to 5…
But it could also be positioned towards stay-at-home parents as a way to provide for their family without having to leave the house or hire a babysitter.
If you want to scale an ad account to the moon, you’ll need to scale both vertically and horizontally.
Looking for clients? These freelance jobs were posted on Upwork in the last 24 hours:
Quote of the Day
“Tell me and I forget. Teach me and I remember. Involve me and I learn.”
— Benjamin Franklin