Why I Invest 10% of My Income on Social Media: The Powerful Strategy To Bring New Readers

I spend 10% of my Medium income on Facebook ads: here are my stats.

I’m slowly starting to invest a portion of my earnings in Facebook Ads.

In the last two months, I was one of the lucky ones to receive the $500 bonus. But I still look at my earnings without the bonus. I had a viral article in April that made me jump from $531.13 to $1,030.99 in May.

In June, without the bonus, my prediction is to make between $600 and $700. I’m on a slow journey into a steady $1,000 per month. This week I’ll reach the 200 article milestone. So, I’m just starting.

My goal is to reach $6,000 per month in multiple sources of income by the end of 2022.

Yet, one of the things I always did from the beginning was investing in my business.

I bought two online courses, one from [arlie] PEYTON, the other from Sinem Günel. I also invested in an English grammar course and Jon Brosio’s online course on How to start a blog. I have my website almost finished.

However, I always thought I should invest in social media platforms to catch more readers outside Medium’s platform. Many ordinary people don’t know about Medium, and it would be a way to help the company to get more clients, and it would also indirectly help me get more readers.

My goal is to get to $1,500 per month as quickly as possible and have an external company developing my social media business plan, meaning, invest in a small company that can manage several social media platforms where I can reach more and more readers.

I believe it’s an excellent investment in the long run.

Tim Denning frequently talks about LinkedIn and Twitter, so probably that’s where I intend to invest, plus Facebook. These three platforms will help my social media investment in the way to get more readers outside Medium.

Yet, I just started my investment in Facebook Ads, and these are the numbers I want to share with you.

Some people need to realize that Facebook is a social network, not a diary.

Facebook is one of the most powerful advertising tools in the world.

80% of internet users use Facebook.

93% of marketers use Facebook.

Facebook has a 1.9 billion total reach potential.

The average Cost-per-click (CPC) for Facebook is $0.80, and the cost per thousand impressions (CPM) is $5.12.

If you have a business and you’re not advertising on Facebook, you’re literally losing daily opportunities to get more clients.

If you’re a writer and want to reach more people, you can start with $20 per ad. Last month, I invested $30, but I intend to invest 10% of my earnings this month, meaning $60 to $70.

I believe in the compound effect. Meaning, if I invest a portion of money every single month into something I think will pay itself in the future, related to Medium readers, I think I can invest in new readers coming to my platform every month. New readers start reading my articles will bring me reading time and, because of that, more earnings.

One of the most exciting things about Facebook ads is that you can segment your niche, country or continent, language, and interests. With a powerful headline, you can reach many new readers into the platform, helping Medium grow and helping yourself to grow your business.

The idea is to go from numbers to information to understanding.

If we don’t show up, nobody cares about us.

Medium is an excellent platform with high-ranking domain authority, yet you have to do your job too. It’s fantastic to write on Medium because of its SEO power over other platforms; however, there are different ways you can complement your reach, like investing a portion of your earnings on social media.

Last month I started with Facebook. In my online course with [arlie] PEYTON, he suggested doing so because it complements your article’s SEO, and it can get you more readers for your profile page.

I’m not going to explain how to create Facebook Ads, because there are hundreds of good content explanations on Youtube.

Yet, I’ll share with you some numbers about my two first experiences on Facebook ads with two different articles.

The first article I invested in was The Exponential Age is Coming: Understanding It Will Be Your Most Valuable Financial Hedge.

With only $23.79, I’ve reached 14,608 potential readers. From those potential readers, I had 292 link clicks. It cost me $0.07 per click, with 25,248 impressions.

One of the most exciting things about Facebook Ads is that readers that clicked on your article and possibly read it and liked it share it on other social media platforms, like in this example.

There are two essential things to take from this:

1- This reader who liked and shared my article may be one of my long-time readers on Medium.

2- This reader can share it with his network, and then someone else from his network can share it again, and the network effect exponentially takes place.

The other positive thing about my $23.79 investment is that 292 potential future readers clicked on my article. Not only did they access some of my articles, but they also had access to all my portfolio.

If 10% of 292 link clicks turned into paid readers, that means I have 29 new readers. If some of those 29 new readers explore my profile page and invest reading time into some articles, that means I’m earning money from that.

My second article was The Gamification of the Entire Economy: How the New World Is Being Designed, published on The StartUp.

I invested $23.79 to reach 14,399 potential readers. From those potential readers, I had 352 link clicks. It cost me $0.06 per click, with 23,316 impressions. Meaning came fewer potential readers than the first article, fewer impressions, but 69 more link clicks.

I suppose I’m getting more effective on Facebook Ads. With time, I intend to create better ads funneled to a perfect niche, with a lower cost per click as possible and with a better network effect.

From those 352 link clicks, five readers did share in their Facebook profiles this article. One of them had 15 shares, which makes me believe the network effect can boost some of my pieces.

I always shared a friend link in my Facebook Ads because ordinary people are not readers from Medium Partner Program. So, if I would just share the article’s link, they couldn’t have access to the article.

Another important thing is that this reading time doesn’t get you more money until these new readers subscribe to Medium. Yet, from 352 link clicks, the odds to have some new paid readers are high, and if you think of this investment in the long term and believe in the network effect, this investment will give you dividends and open doors to new business opportunities, for sure.

Final Thoughts

This month a lot of writers wrote about the sudden cut on followers. I lost about 30 followers, from a total of almost 1,300. It means most of my followers are really authentic readers.

Why do I say that? Because I have a good reading time average on almost every article I write, having 1,250 followers and making $1,031.13 in April and $1,530.99 in May means I don’t need too many followers to earn money on Medium.

If I want to reach $6,000 per month writing online, and half of that on Medium, it means with more a less 3,000 followers, I can get $3,000 per month. Quality over quantity is a critical issue on Medium.

Of course, quantity is also essential. To keep the algorithm working for you, you have to feed the platform every day. I write five articles per week, from Monday to Friday.

On weekends I read a lot, get new ideas, take some notes, and mostly do other stuff I love to do, like running, hang out with friends, and spend time with my daughters.

I just started investing in Facebook Ads. I will keep funding for the long run. Probably at the end of the year, I’ll do the same with LinkedIn and Twitter.

For now, I want to finish my website, where I’ll build my personal brand and sell my services. I write about Crypto and blockchain, but also about macroeconomics, finance, technology, and innovation.

As you probably know already, the crypto world is booming, and I have been contacted by several companies to write articles with specific keywords to boost some brands and brokerages.

So, new opportunities always arrive if you show yourself to the world.

My friend Rocco Pendola recently invited me to write on one of the most successful financial websites in the world called seekingalpha.com.

If you keep pushing your writing skills to the next level, learning with the best, investing in yourself, and being on Medium always searching for new things other people do successfully, you’ll get where you want.

Facebook is a family with 1.9 billion members. It’s an endless world of opportunities that anyone can reach with a low investment budget.

I will keep investing and collecting data on Facebook Ads, to reach more and more outside readers.

We don’t know who’s behind a profile name on Facebook. It can be your most enthusiastic fan, a company’s CEO who needs your help to grow his business.

Remember, always invest in yourself and find ways to show yourself to the world.

These are the two most essential ways to applicate your money and, like Warren Buffett, do the long hard, patient path into your final goals.

This article is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions.

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