Often used when planning a leisure activity that's worth spending a full day enjoying. The weather is perfect for the beach; let's make a day of it.
Pro Tip 2/3
Shared Experience
Implies shared involvement in an activity, creating a bond or memorable experience with others. We haven't seen each other in ages; let's make a day of it at the mall.
Pro Tip 3/3
Full Commitment
Shows determination to engage fully in an activity, without rushing or skipping parts of the experience. This museum has so much to see, we should make a day of it to take it all in.