[#049] My First Billion: my 100k/mo experiment
Last week I made a video on IG talking about
an article I read that said…
“ChatGPT ads convert 1.5 times better than standard referral and display channels!”
My scientist marketer brain kicked in and was like…
“Hmmmm, let me test these.”
And then I thought to myself…
“I need to document this.”
Not after I figure it out or six months from now when I can package everything into a case study and tell you how smart I was.
Right now, while I have no idea how this is going to turn out.
So I gave myself a challenge:
Clear target with a clear timeline, and I have absolutely no idea if I can do it…
…and that’s what makes this interesting.
Right now, everybody is talking about AI and ChatGPT.
And you already know what happens whenever a new marketing channel opens up…
Within about 15 minutes, everybody becomes an expert. Lol
Courses start popping up.
“Proven systems” start appearing.
People start teaching strategies they’ve barely tested themselves.
That ain’t my style.
I wanted to put my own money behind it.
So I launched my first campaign. And now I’m watching the numbers.
What does the traffic cost?
Do people click?
Do they opt in?
What does it cost me to generate a lead?
Are they GOOD leads?
Do they book calls?
Do they become clients?
And most importantly…
Does the math math?
Because a new advertising platform being exciting doesn’t mean it’s a good client acquisition channel.
The economics still have to work.
But here’s what has me interested…
There have only been a handful of times during my career when we’ve watched a potentially massive advertising platform emerge.
Google and YouTube were a little bit before my time.
But I watched the rise of Facebook and IG as an ad platform.
Notice I said watched, because that’s what I did, mostly out of fear.
And then I jumped into the ad game years later, and I’m glad I did.
Now we have hundreds of millions of people using ChatGPT to ask questions…
…solve problems, research products and make decisions.
The attention is there, now the question is:
What is that attention worth to an advertiser?
I don't know yet.
But I want to find out while most businesses are still trying to figure out that ChatGPT even HAS ads.
That’s the experiment.
Not that ChatGPT Ads are guaranteed to become the next Google Ads…
Or that everybody should move their Meta budget over there.
The experiment is seeing if this platform is a viable source of clients.
This is How I Think About Marketing
One of the biggest mistakes I see entrepreneurs make is becoming dependent on a single source of Clients.
They build their entire business on Instagram.
Or referrals.
Or Meta Ads.
Or partnerships.
Or live events.
Then something changes…
And their entire pipeline changes with it.
I’d rather build what I call a Multi-Dimensional Marketing System.
Content.
Paid media.
Partnerships.
Outbound.
Referrals.
Different ways of creating demand and acquiring clients so one platform doesn't control the oxygen supply to the business.
Meta Ads are still a huge part of our client-acquisition system.
I'm not replacing Meta.
I'm looking for another lever.
Because if ChatGPT Ads can become another predictable source of qualified leads…
Now I have another lever I can pull.
And if they don't?
Cool.
I bought the data, learned something and moved on.
So I Decided To Do Something Different…
Normally, this is where somebody would disappear for six months…
Run a bunch of tests…
Hopefully get a great result…
Then come back with:
“Introducing my NEW ChatGPT Ads System!” LOL
Nah, I think it’s more interesting if you get to watch me build it.
So next Thursday, October 8th, I’m opening everything up.
I'm going to show the actual campaign.
The ads.
What I've spent.
What happened.
The leads.
The numbers.
What I'm learning.
What I got wrong.
And what I'm testing next.
Then I'm going to continue documenting the experiment as I attempt to get to:
100k/month in additional profit within the next 6 months with ChatGPT Ads…
Will it work?
I have no idea. Lol
But that’s why I want you there now instead of after I know the answer.
Wanna watch me do it?
Go here to get all the details on how to join the experiment.
I’ll wrap this up because my day in the office is ending even earlier today because Vanessa got us tickets to go see Desi Banks live tonight.
We live stand-up comedy.
Tell those you love that you love them.
Marquel
P.S. This is why I started My First Billion in the first place.
I didn't want to write about the journey once I reached the destination.
I wanted to document the bets, experiments, wins, and lessons while I'm building it.
Start from the beginning → Issue 001
