“Dollar a Day” is the crown-jewel of Dennis Yu’s social marketing strategy.
Essentially, Dennis says you don’t need to spend a fortune advertising on social media in order to generate significant ROI. Instead, you should test your content for $1/day to determine which posts perform best and then throw gas on the fire.
For a long time, I was confused by $1/day because I didn’t know how to manage the process. Turns out it’s simpler than I thought.
The idea is to boost a post for seven days in a row while continuing to layer on new boosted posts every subsequent day.
In your first week of doing this, the most you’ll be spending in one day is $7.
From there, follow Dennis’s benchmarks for killing and keeping posts.
Kill 90% of the posts that suck, add $30 for 30 more days if the posts are good, and then hunt down the real unicorns by testing new audiences and higher budgets.
Once you’ve identified your unicorn posts, throw gas on the fire—i.e., spend more money on them since the return on ad spend is worth it. Just make sure the daily budget doesn’t let you hit more than 10% of the available audience, or you’ll burn it out.
How do you know which benchmarks to use? Refer back to this:
“When you first start boosting,” Dennis says, “it’s going to take a while to find out what combination of factors works best for your campaigns. It’s key to document your process and develop what we call ‘repeatable excellence’. A good way to do this is by taking notes. Write things down, take screenshots, and create checklists that, when followed, can replicate this tested success. You want your junior folks to do this for you, right? You set the example for others to follow—then delegate yourself out of doing this every day.”