By Kenny Hoang – 21 Minute Read
Isn’t Calvin a pal. His friends are swimming in money with the Dollar a Day Strategy.
Spend more money. That’s what conventional wisdom says when it comes to getting more exposure.
That you need to hire a PR firm and spend $30,000 a month for a 6 month retainer if you ever want your personal brand or company in the limelight.
Not anymore you don’t. (Stay tuned for the Dollar a Day Strategy)
With the advent of the internet and social media, we’re in a 2nd Distribution Revolution. In the 1400’s the invention of the Gutenberg Press drastically let people have the ability to have widespread distribution of printed-works.
The Printing Revolution. Now, with the click of “Share” on Facebook and Instagram; a video, a picture, a written post, your voice goes out to the world. The Social Media Revolution.
Today with unlimited distribution, we have the vehicle to game exposure. It’s extraordinary. This slice of time we’re in is unprecedented.
Overnight people can reach hundreds of millions of people around the world with nothing but a Smartphone and a good LTE or wifi connection.
This social media vehicle we have is like a snowball that runs down a hill. More snow equals more exposure. As the snowball begins to roll down, it may start off small, it may start off slow.
But with the power of compounding, with enough snow and a big enough hill, that snowball’s going to sink even the most colossal skyscrapers.
You can scale your brand authentically the very same way with less of the work by leveraging the Big 3: Facebook, Instagram and YouTube.
The challenge is people don’t have the instructions on how to use the vehicle. Here’s what we’re going to cover to change that:
That’s how many dollars were spent on social media advertising alone in 2017.
Compare that to 7.52 billion in 2014, spend is only getting higher.
This is a testimony to social advertising “working”.
It’s important to mention that not all advertising spend is created equal. How many of those advertising dollars are truly being maximized?
Not many of them, and there’s a lot of ads that bomb because people go for the hard-close without asking for a first date.
Every day, people are putting money in a social advertising blender and playing the spray and pray game, “I hope this works.”
People are willingly putting money in a machine and pushing the “Mix and Shred” button.
Leave the smoothie making to the professionals: money-less.
Let’s leave the money out when we’re making a blueberry smoothie, please.
The thing is, some folks have their machine set-up wrong.
Instead, that blender has a magical “make money” button but no one’s pressing on it.
That’s what Facebook is. Folks just need the instructions. People are running ads, crossing their fingers and hoping it all works out.
That’s a quick way to lose money.
Following Pareto’s 80/20 rule, 80% of your sponsored posts will bomb, it might be as high as 95/5 or 99/1.
That’s why best practice is terminating these underperforming ads.
On the flip-side, you want to put more money on your “winners”.
Back when I first started running Facebook Ads, I was doing it for Martial Arts Schools. I remember promoting several campaigns spending thousands of dollars in ad spend.
At one point, one ad promoting a children’s martial arts program was running for several days.
The results were abysmal with a cost per lead of over $30 which is high for a local lead.
I told my client, let’s put more money on the campaign to get more data. It didn’t perform any better.
If I had the foresight to turn those campaigns off when the fire was contained instead of putting fuel on the fire, I could have turned those dollars into more members.
Facebook showed me the redflag, I just didn’t take its warning.
Let’s prevent this for you and not mix and shred your money.
You walk into the casino and sit at the blackjack table.
Lo and behold, Ellen DeGeneres is your blackjack dealer–because why not.
You put $100 on the table for the hand and she deals you an Ace face-up and a King facedown, a winning hand.
Winner winner. Chicken Dinner. (I don’t even know what this means but it sounds cool)
Now instead of collecting your winnings, Ellen asks: “Wanna double down on your hand? No jokes!”
You respond, “Hell yes.” You’re going to town.
You’ve won your hand in blackjack and you’re able to put more money on that hand. Isn’t that the dream?
Now imagine, being able to double down over and over.
How many times would you double down? This isn’t a trick question.
You’d keep that sucker going while Ellen tells you “Woo, dinner’s on you pal!”
The same can be said for Facebook Advertising.
When it comes to creating profitable advertising campaigns, I want to introduce you to the Dollar a Day Strategy.
Like being able to double down on a winning bet, you’ll only be spending your money on winning Facebook Advertising campaigns.
Here’s how it works. Instead of starting with a fixed amount of budget and saying “I feel like putting 2 G’s on this campaign.
Let’s hope it works”, you’ll start with putting just a couple dollars a day behind posts you’ve made for 7-10 days.
This allows you to test for what we call a “winner”. Once you have a “winner” you test it again for a longer duration of time.
From 7 days we like to extend it to 30 days. If it’s still performing, extend it to 90 days, then 180 days, then 365 days and onwards.
We’ve even had posts last for years! This is the beauty of the Dollar a Day Strategy, if used methodically, you don’t have to guess and ensure you’ll only put more money on a winning hand.
You’ll be off the perpetual Content-Creation Hamster Wheel and let your winners last forever like a musician’s Greatest Hits. Think Michael Jacksons’s Thriller.
The logic behind the Dollar a Day Strategy is only your best material, your best content, your best work gets shown to the world.
Speaking of Greatest Hits, I did a quick search in Google’s News and this just happened yesterday. People are still going to be bugging out to his songs for a long time. Source: Vibe
Facebook acts like an amplifier. You put Michael Jackson or a Bruno Mars on the mic, they’re going to do damage.
Likewise, you give the mic to your uncle Ricky who’s downed a couple Corona’s–maybe not so much of a stellar performance.
So you want to only turn the volume on the songs that people like and mute the songs that make your ears bleed.
The way you figure out if people like the song in the first place. It’s like running a mini-experiment and avoiding a Frankenstein coming after you.
Here’s where the magic happens. There’s a feature within your Facebook Page (unlike your Facebook Profile) called “Boost Post”.
Back 5 years ago, if you were boosting posts my friend Logan Young would say it was the joke of social media marketing. More specifically “a technique only for noobs”.
However after years of testing, we’ve found out that boosting started to be our friend when Facebook allowed us to boost against custom audiences and saved audiences.
Logan would know, he’s the King of Facebook. Here he’s breaking down the growing Facebook concerns on Privacy to millions of viewers around the world.
When paired with the dollar a day strategy, boosting has done some incredible things for us at BlitzMetrics.
I want to share what’s possible when you can go to the blackjack table and win again and again.
One of the things we’re best known for at BlitzMetrics, is running Social Campaigns for the Golden State Warriors where we drove tons of tickets sales by getting a 29x return on ad spend.
Now that’s a money-printing machine.
We even got featured by Facebook in their Business Case Studies.
One time, we drove ROI as high as 30 or 40 times so for every dollar they put in they got $30 or $40.
The funny thing is, the owners of the Warriors read that and thought it was a typo “you need to re-run the numbers, there’s no way!”
How did we do it?
You guessed it. Using the Dollar a Day Strategy.
For example, in a franchise like the Warriors we boosted to the different player’s audiences.
If Stephen Curry shot the lights off one night with his 3-pointers, we would take that video highlight and boost it to Stephen Curry fans.
Chef Curry with the profile shot boi.
Here’s an example of how we’d set up
the targeting to boost to Stephen Curry fans
If Draymond Green had a nasty assist, we’d assist his post by boosting to his fans.
Just like that, we got more eyeballs effortlessly which would later be re-targeted to promote ticket and merchandise sales.
That’s just one example, we’ve done it again and again using the Dollar a Day Strategy.
We’ve helped garner well over 80 Million Views on a single video of our friend Isaac Irvine casually talking to his son about bullying. This catapulted his Personal Brand to the point where when he went into grocery stores and was getting recognized.
We’ve helped to Mark Lack generate more paid speaking opportunities and consulting clients after leveraging his interview with Tai Lopez.
I even helped my friend, Christos “The Spartan” Giagos, a helluva mixed-martial artist, use the Dollar a Day Strategy to help maximize his chances of getting back into the UFC. (He got back in and is fighting Sept 22, 2018 at UFC Fight Night 137.)
You my friend, can leverage the Dollar a Day Strategy for yourself too and multiply your income, influence and impact.
Implementing the Dollar a Day Strategy
To implement the Dollar a Day Strategy there are 4 Stages of Boosting.
1. Seed (Organic)
2. Boost (Paid)
3. Share (Organic)
4. Explode (Paid)
1. Seed – Post organically. At BlitzMetrics, we recommend seeing how your post is performing first before putting money behind it. Like the blackjack example from earlier.
If it looks like a winner then boost it.
Posts are like fruits,
look for the organic ones that are ripe!
You can tell if an organic post on your page is a winner by using Logan’s Standard of Excellence.
Think of when you’re going to the grocery store and you’re picking out strawberries or grapes, you’re going to look for the ones with the least blemishes.
That’s what you want to do with your posts–weed them out for the good ones!
1. Go to your Facebook Page, if you have your Business Manager set-up go to Business Manager to be able to view your Audience Insights.
2. Go to “Insights”
3. Go to “Posts”
4a. At a glance look at your posts with the most “Reach”. This is the amount of times your post appeared on people’s newsfeed. (even if they’re just scrolling past it).
4b. Look at the the engagement and look for one’s with 10%+ engagement based on our Standards of Excellence.
Note: engagement is made up of Post Clicks + Reactions (Likes), Comments & Shares divided by Total Reach.
Don’t worry it’s easier than it sounds. Algebra just sounds complicated in written form 🤓.
Here’s a breakdown of how to find out if your post has good engagement or not (at least 10%).
You add up the green (B) and divide it by the orange (A) and voila.
In this example Ed’s two posts are killing it with a 13.82% and 17.39% engagement rate, well beyond 10%.
5. Hit that Boost button!
2. Boost – Put a little bit of money to test.
After you plant your “seed” by posting content organically and seeing it’s performing well, you’ll want to put money behind it.
You can boost right from “Insights” in your page or on your Facebook page on desktop or even on your phone using the app Facebook Page.
For this example we’re going to boost straight from your desktop.
1. Click “Boost Post”
2. Select Video Views
If you’re boosting a photo, you’ll select “Engagement.”
If you boost a written post with just text, the option to choose a goal will be omitted and will automatically default to “Engagement”.
3. Scroll down and you can either create a new audience or select a custom audience you’ve already made. For this example I’ve clicked “Create Audience.”
4. Name your audience and leave Gender and Age as is (default). The reason why we want to leave them blank is to let oCPM* put your post in front of the best people.
*optimized conversions per thousand impressions aka Facebook’s algorithm
5a. Add your location.
The rule of thumb is to boost to a main industrialized country (e.g. United States, Canada, Australia, United Kingdom).
When you’re boosting towards a location-specific event or promotion (local business) select a range outside of that city (up to 50 miles).
If you’re trying to target by county, Facebook’s location targeting doesn’t have an option for this.
However, often times counties will have dedicated pages e.g. Los Angeles, California (County).
5b. Select your detailed targeting.
Here are some ideas on how to use targeting.
Facebook allows you to target up to 1,000 items in a single audience so one thing we like to do is to have a “mega” audience to have a broad scope.
The mega audiences we create is one for the media and one for vertical influencers (people who work at related companies, partners, companies, etc).
In this example, we already know from past testing that Ed Mylett’s content resonates very well with Gary Vee’s audience compared to other interests. So we boost to Gary Vee’s audience. His audience becomes Ed’s audience.
If you’re talking about comic books you might create a saved audience for people who like “DC” or “Marvel”. If you’re talking about wildlife and animals, you might want to target “National Geographics”
6. Save your audience.
7. Adjust your total budget.
With boosting using the Dollar a Day strategy, the magic is in being able to perform a mini-experiment. You can literally spend as low as $1 a day to “test”.
We used to use only $1 a day however there’s been inflation on Facebook’s end and recommendations by it’s algorithm that another $1 or $2 on the boost will perform better.
For example, I like to boost $2 a day.
It’s also best practice to boost a post across multiple days instead of everything in one day to give your spend the best chance to reach audiences based on the day of the week.
Some days more people will come across your boosted post so Facebook will automatically give your post more exposure.
Other days there won’t be as much demand so Facebook will pull back your budget and ensure you’re getting the best for your buck.
Below’s an example from Facebook of $70 spread across 7 days.
Notice how Facebook isn’t spending $10 everyday but some days are higher and some days are lower.
More time also gives the algorithm an opportunity to learn and maximize the goal of your boost.
Note: For the past several years, the Dollar a Day Strategy has literally meant spending $1 a day for 7 days on a post.
However until recently, we’ve noticed that a combination of inflation and updates to Facebook’s machine learning means you’re better off taking Facebook’s suggestions which may mean slight tweaks in your spend.
$2/day or $3/day for 7 days, 9 days, 10 days.
See what Dennis the creator of the Dollar a Day Strategy had to say:
Also select your Advertising Account you’ll be using to boost your posts.
9. Click “Boost Now” and the bottom right.
After you’ve boosted your post you’ll want to revisit it and see how it’s performing. All it takes is 15 minutes a day, even every couple days, just to take a glance at how your boosted posts are doing.
Some good standards to see if an organic post is performing well according to our Standards of Excellence at BlitzMetrics. Simply put, if it it matches what we have, you have a winner.
a. Is the impressions to view-through-rate ratio at least 50%. On average a normal view-through-rate, meaning how many people watched your video for at least 3 seconds, is 30%.
If you’re at 50%, you have a winner because we’re looking for above average!
b. Is the view-through to 10 second view rate at least 50%? On average the view-through to 10 second video view rate is 30%. Meaning of the people who’ve viewed your video for at least 3 seconds, you want 50% of those to watch for at least 10 seconds.
c. Does it have at least a 10 second view rate? On average a normal second video view rate is 6 seconds. A good video view rate is 10 seconds. A great video view rate is 15 seconds-25 seconds. A “unicorn” video view rate is 30 seconds and beyond. When it’s a unicorn you fuel the fire!
For Videos, Photos and Written Posts
d. Does it have at least a 10% engagement rate (including comments, likes, shares, post clicks)?
e. Is the CPM (cost per thousand impressions) lower than $10? If any of your posts exceeds a CPM of $10, terminate it!
Note that you don’t have to meet each and everyone one of these standards to put more money behind the post. Having just 1 is a good indicator that your content is resonating with the audience you’re targeting to.
However if you do have multiple criteria checked off, this indicates an undeniable winner.
Don’t worry, most of my posts suck too and that’s perfectly normal.
Imagine Muhammad Ali expected to knock out all his opponents on the 1st punch of even the 2nd or 3rd. Even as the Greatest of All Time, he isn’t expected to do so, and same goes for your boosted posts.
It’s that whole overused Wayne Gretzy quote, “You miss 100 percent of the shots you never take”.
So long as you keep taking shots, according to the law of numbers, you’re going to have your winners.
If your post has low relevance (less than 6) or less than 10% of people engaging (reactions divided by reach), terminate it baby!
Expect that you’ll terminate 90% of your posts, if not more.
Facebook won’t allow you to change much once you’ve boosted a post (though you can edit the copy on videos).
But if you think something didn’t work with the targeting and are feeling lucky, you can always stop boosting and create a similar ad using the same content within Ads Manager.
Here’s an example of a piece of content that wasn’t performing well (relevance score=2).
Low relevance and engagement led us create a similar ad set.
After adjusting the targeting and using the remainder of the budget for the ad ($1/day), the relevance score skyrocketed and more people were reacting to the post.
CTR (Click-Through Rate) increased from 0.4% to 2.5%, which is over 6 times better.
When a post isn’t performing well you can either 1. terminate it and create new content based on what you’ve learned or 2. experiment with audiences.
This process of trial and error is the best way to develop tried and true saved audiences that will always engage.
The goal is to align your content with the right audience by always running your mini-experiments.
Embrace your inner mad scientist.
Congratulations. Chuck Norris approves that you’ve learned how to un-suck your posts.
Corner Tip: Boost from Facebook Pages
The cool feature when you’re using the Dollar a Day Strategy and need to boost a post is you can do it on your phone using the Facebook Pages app.
Instead of going to Facebook Ads Manager you can just make a post organically on your page and then boost it by clicking the blue “Boost Post.”
After you click Boost Post you’ll get the opportunity to create an audience or select a pre-made saved-audience.
So far we’ve covered 1. Seed.
We’ve covered 2. Boost. Now we just got 2 more!
3. Share – If other people share your post, you’ll want to share that so you have Social Proof.
Last year my instructor Rener Gracie launched his product Hero Hoodie. It’s a hoodie that converts into a Drawstring Backpack.
One of his posts got picked up by BuzzFeed.
When an opportunity like this comes along, it’s a perfect opportunity to share the shared posts.
In this case having Rener share Buzzfeed’s share of his HeroHoodie video on the Quickflip Apparel page, the name of the brand’s page.
Here at BlitzMetrics, we call this inception like the movie with the dream inside the dream inside the dream!
After he shares Buzzfeed’s share, he can boost to Buzzfeed’s audience.
Buzzfeed’s audience becomes his audience.
4. Explode – Double down and put more money
When your share has accumulated more than 10,000 video views or 1,000 likes, boost using the Dollar a Day Strategy against large interests audiences (mega audiences) or against more audiences.
Your shared posts will continue to accumulate power in all places that the post is shared.
You’re now harnessing the power of a “Greatest Hit” an ever-green post that continues to live on.
Congratulations, your days on the content-creation hamster wheel of death is over.
Instead of being the dude on the street asking you to buy his mix-tape, you have a systematic process to create and promote your content.
You my friend are a step closer to the big leagues, Michael Jackson Thriller Style.
Boosting will make you bank.
To take advantage of the Distribution Revolution, you’ll want to leverage social media.
Be careful about how you’re spending your advertising dollars because you might be putting it in the blender by playing the guessing game.
Instead, you now have a systemized process. By using the Dollar a Day Strategy, you can place your bets and double down ONLY if they’re already winning.
It’s like cheating but it’s legal and ethical.
Finally, get your content to live “ever-green” as a Greatest Hit by amplifying what’s already working.
If you got yourself a winner for $2 for 7 days put $60 for 30 days. If that keeps working, keep ramping it up.
Tell me, I’d love to know, how will the Dollar a Day Strategy help you in your marketing efforts?
Knowledge is great but only applied knowledge gets results!
If that questions to heavy for you right now, what’s your favorite Greatest Hit song or movie?
Leave your answer in the comments below and let’s share the insights and share the music.