What’s up, everybody? Fred Lam here and welcome to our daily huddle episode number 38.
Before we begin, regardless if you are on Facebook watching this live stream or if you are on YouTube watching my live session right now, tell me where you guys are from. I don’t normally do this but I’m just curious. Right now it is 9 PM Pacific and it’s midnight Eastern Time. I just want to see if I get some different following coming on right now to watch my daily huddle. As a matter of fact, I know that a lot of people ask for different time zones for me to come on live. Let’s be honest, I do have several businesses that I run and I obliviously have a very tight schedule but at the end of the day, I still want to make sure I am here live. Today I started very early and then I had a long webinar with my Zero Up members so on Thursdays I come on pretty late. Since I come on late, it really helps people on the other side of the world like the ones in UK, Australia, and New Zealand to come on and join us live. At the same time, I know that people from the Eastern side of North America are probably sleeping because it’s already midnight. I actually have Damian from Atlanta and Field Ethics from Fortworth, Texas. I believe right now it’s like 11 PM your guys time, you do sleep pretty late. On Facebook, I have California so same time zone as I am, Chicago, Henderson, Malaysia, India, and New York. I have a lot of people from Atlanta. Joshua from Phoenix, Gigi from California. Joshua said, “Hey, Fred. #nosleep.” Well, we’re humans, we still need some sleep. I love my sleep but at the end of the day if I have to wake up early, I wake up early but I do sleep pretty late. I am considered a night owl. At night is the best time that I actually work. During the night, I’m always alone in the office working and it is the most productive time inside the office.
Let’s start our daily huddle for today. As you guys can see in the topic the thing that I want to bring up to you is very important, it’s all about Facebook Ads. I know that all of you guys are trying to unlock the secrets of Facebook Ads or trying to master this traffic source. Yesterday, I did cover Google and search traffic in general. I covered a lot of that information but today I have a bunch of questions that came in and they’re all about Facebook and one of the questions actually raised this topic up which is the Facebook business manager. For those of you who have my 10-part video training series or if you have any of my courses, I keep telling you and I keep insisting that you need a Facebook business manager account because it will help you with a lot of ways. I can name right away at least five different reasons why you need a Facebook business manager account. Before I go into why you need it, I want to share with you the structure of your Facebook business manager account.
There have been a lot of confusions of people saying, “I have a Facebook Ad account but do I need to create a brand new Facebook business manager account and transfer everything to my business manager account?” I know that there are a lot of questions in your mind and there are not only a few people who talk about business manager account and even if they do there may be some confusion somewhere inside any of those videos which are public or any of my video training. Maybe I have confused you or whatsoever. I want to take this time to share with you what a business manager account really is first then I’ll dive right in on why you need your Facebook business manager account.
Let me actually take a step back, when you have a Facebook account, the very same account that you’re using right now if you are on Facebook watching this live stream. You obviously have to create your Facebook account, put a profile photo and add friends. It’s just going to Facebook.com or using the Facebook app on your mobile phone to go to Facebook. Now on every single Facebook account, you can create what we call a Facebook Ads account. They call it the Facebook Ads manager. It is basically an interface that is dedicated towards your personal account. You can only have one account running on your particular Facebook account. I’m broadcasting live right now with my personal Fred Lam Facebook account and inside my account obviously, I am the administrator of all these Facebook pages. I have one Facebook ad account linked to my name. At the end of the day, if I just run all my ads on the Facebook ads manager account and if there’s anything wrong or if I got suspended or I confused the Facebook pixel and I need to start from brand new, I don’t have another account because a Facebook Ads manager account is always tied to your Facebook actual profile account.
Now with that being said, here’s where the business manager account comes in place. Your Facebook personal account or whatever account that you use to log in can be used to sign up for a business manager account. With that business manager account, you have to treat it like it is an agency. It is like the mother ship, it is the hub of every single ad account that you are about to create, not that you own. I’m talking about, about to create because if you have one Facebook account you have the ability to only have one Facebook ads manager account. It’s very simple, right? One Facebook account, one Facebook ads manager, that’s all you have. Now that you created a business manager account using your Facebook profile or the regular personal one that use to check out what your friends are doing. You can actually have that account owning the mother ship which is the business manager account. When you do that you’re kind of treating yourself as a corporation or an agency. I am not saying that you need to create a corporation or an agency; I’m just using it as an example to treat it that way. Once you actually have your business manager account what happens is that when you first create it, Facebook will ask you to use your main Facebook ad manager to be the main Facebook ads page. What is happening is that your mothership which is your business manager account now actually own but has access to your Facebook ad account that you log in usually with your personal account. So now with that, since you own this mother ship like I said earlier when you use just the Facebook ads manager, one profile can only have one account ad account. Now that you have the business manager, you can actually use your own name and entity to create multiple Facebook ad accounts so it can be one for business A, one for business B, one for business C. When you do all that, this actually owned by your business manager account which is the mother ship and your business manager account is owned by your personal Facebook profile page.
So that’s really what Facebook business manager is. I treat it like the mother ship that owns all my accounts and it gives me a lot of opportunities, a lot of advantages of having a business manager account and I listed some of them for you. Reason number one, you can now create multiple Facebook ad accounts under your own name. You use the same credit card; you use the same name etc. Without the business manager account, you only have one ad account. Now that you have your business manager account you can have a lot of ad accounts. Here’s the truth though, when you first have a business manager account Facebook put a limitation on you, your number maybe two, maybe three, maybe five. Let’s say that you actually have a limitation of two ad accounts so once you have a business manager account and you have your first Facebook ad account under there you can create now a second Facebook ad account. But once you created that you cannot create anymore because you have an account limitation. Here’s what you have to do, both of your Facebook ad accounts which are under your business manager account should be running ads. It doesn’t matter how much you’re spending. It can be $5 a day as long as there are active ads running within your business manager account and you’ve hit the limitation you can actually request Facebook by sending them an email and support ticket to request for more ad accounts. When they look at your business manager account and see that you have two ad accounts under your business manager account and they are in good standing, they’re spending money then Facebook will say, “Okay, I’ll give you more ad accounts right now.” That’s how you open up to have more Facebook ad accounts.
The reason number two is to save yourself. What do I mean by saving yourself is very important? If you don’t have a business manager account and if you don’t have multiple ad accounts opened and knock on wood if by any reason; it may be a reason that is out of your control, it maybe a security verification that Facebook wants to make sure that you are a real person that they can actually collect money from you. If you got that security verification in your ad account, you cannot run anymore ad accounts. And if you actually got suspended for running products that you should not be running or using claims that you should not be claiming, then you are going to be left dry. You’re going to be like, “Well, good-bye, you are no longer able to advertise on Facebook.” However if you have a business manager and you have multiple ad accounts, guess what? If one of your of your ad accounts die then you still have other ones that you can use so you won’t stop running your own business.
The third thing that is very important and this is for more advanced users. Let’s say that you have an ecommerce store that is selling camping products and then you have another ecommerce store with another ad account selling hunting products. We are seeing two different stores. Obviously each store should have its own Facebook ad account because you don’t want to confuse the Facebook data. With the business manager account, what you can do is that you can share your pixel and your custom audiences to other Facebook ad accounts that you own. If you are starting a new store and you do not want to affect your existing store that is doing well but you want to kick-start your store a lot quicker, guess what? You can actually share that pixel data with your other ad accounts within your business manager account and kick-start the new store right away because as we all know lookalike audiences run at the best speed. That’s reason number three.
Reason number four, having a business manager account will potentially (this is not a guarantee) let you get a representative from Facebook if you have multiple ad accounts running with a high spend. If you don’t have a business manager account it’s really rare for you to get a representative from Facebook to look at your account and help and grow your business. When Facebook sees all your ad accounts and see that people own a business manager account, they will know that you are either a company that can have multiple businesses or you’re an agency that runs Facebook ads with other people. With that you are having a higher chance on getting a Facebook rep. Guess what? It’s going to solve a lot of problems. I know a lot of you guys are trying to figure out how to actually get a business manager but that’s what you definitely have to do.
Now, reason number five is more specific for e-commerce. If you want to run dynamic product catalog ads or if you want to create custom conversions based on a particular product that you want to sell you need to use the product catalog. In order for you to use the product catalog, you need a business manager account. These are the five main reasons why you need a business manager account but I think that just of the reasons will be more than enough reason for you to get a business manager account. Again, having a business manager account is absolutely free. It doesn’t cause you a single penny but you are structuring to look like a corporation, an agency, and an entity and guess what? You get a lot more perks with that and you get more ad accounts. The more ad accounts you have the better so you are protecting yourself by having a safety net if in case anything happens you always have a Facebook ad account. These are just some quick tips for you. I hope that helped you out.
Let’s jump right into our daily huddle and answer the questions. One of the questions actually talked about the business account and I already talked a lot longer than I needed so I apologize. This question will come up again.
Before I actually start, put in a WOW into the comment box if that really opened your eyes. I know that I have talked about business manager account well but it seems that some of you guys just down know about it which is very, very odd. I hope that this information really helped you out. If you are on Facebook give me all the like buttons. I see them flying around and I love to see them.
[0:16:52] Question 1: What can someone do, to get Traffic without an Advertisement with Facebook Ads?
Moving on to our five questions of the day, the first question is by Lynette Lott.
My Ads have had been working for A few Hours till I Recognized, that I was not able to bear the Cost for them. I had very high Reactions on most on my Product and that rising. One Product had a Reaction of 206 in just a few Hours. Now I really do not know what to do because I have been working on it and doing anything I could. I am very exhausted and my Motivation is about to disappear because I dont know how to bear the Cost for the Ads in near Future. I do not have Family to ask or other Options. So what can someone do, to get Traffic without an Advertisement with Facebook Ads?
I thank you honestly for your Time.
Here’s the deal Lynette, I understand where you are from because I was there when I first started. It was very hard to have a budget to get started right away and you may be working paychecks to paychecks, I fully understand that.
Here are some things that I need you to know and you need to understand. I know that it is frustrating. I know that it hurts when you start to run ads and then you figured out it didn’t work. Although it hurts and demotivates you, you need to look at it from the other side of the picture. You are actually gaining the knowledge of how to run Facebook Ads which is very important. You are investing in your own knowledge. Yeah, you’re investing in your ads and potentially hoping to make your money back but at the end of the day you’re investing your knowledge at the same time.
Here’s the real truth, you’re not going to succeed overnight. I did not succeed overnight. It took me a long time in order for me to succeed overnight. This stuff that you learned and I teach or you actually check online is not a get-rich-quick scheme. It’s not something that you think that when you start and ad, it will basically make you millions of dollars. The truth is there are works that you need to have in place, you need to gain the knowledge, you need to understand what is happening, and you need to understand what these buttons are. What do they really do? How does it affect your store? How does it affect your ad etc., etc.? Now, with that being said, I saw that you’re getting a lot of reactions but you’re not getting a sale or you may be getting a sale but you’re not actually bearing the cost of the ads. If that’s the case you really want to look and always optimize your ads based on the four (4) levels of optimization that I gave you. It doesn’t matter if your ads are getting reactions or not because those data to a direct response company or for E-commerce is actually bullsh*t. I have to use that word because a like, a share, a comment cannot translate into a sale. You need to figure out a way to have people not to react to your post but to actually click on your link and go to your page to make an acquisition. So, if you’re getting a lot of reactions but you’re not getting a sale or two it probably means that your ad is not direct enough letting people know that you have a product for sale. That is very, very, very important.
Again, moving back to “don’t know how to move forward with ads and everything”. Here’s what I did, I’m sharing with you my experience and you can copy it and try it out yourself. When I first started obviously I was washing dishes, making like freaking 8 bucks an hour, no it was not 8 I think it was like $7 or something. I had to pay for my expenses and all those other stuff. I didn’t have a lot of money, I lived paycheck by paycheck. Here’s what I’ve done, I said to myself, “Fred, in a single month, how much money can I allocate from my salary that I can use towards running ads?” I will basically treat this as if I can only do 200 bucks a month if I lost all 200 bucks I’m not to feel bad about it because I know that I am learning at the same time and that’s what I did. I invested the money that I used from hard-earned money $200. I didn’t treat it as an expense. I treated it more towards an investment because the mindset is very important. If you keep thinking about this as an expense it will always be an expense. It will not be something that will get you a return. How I look at it was, this is an investment. I’m not only investing in my business but I’m also investing in myself on gaining the knowledge on running it. Let’s say if I can only do 200 bucks and while those 200 bucks is running, you’re not going to lose that entire 200 bucks. You may make $50 back or a $100 back. Now, with that $50 or $100 you obviously put it back in and start running more ads and every single month you put in $200 and you make a $100, $150 back. Well guess what? You’re going to create a snowball effect and have the flow of ad budget getting bigger and bigger and bigger and bigger. That’s what you have to do and that’s actually very, very, very important.
Again, if you’re going like “You know what, I can’t even spare $100 to run ads, what can I do? Is it the end of my journey as an entrepreneur?” The answer is NO but you need to invest now, not money. You’re investing your time to get this traffic but you’re not going to get instant traffic right away because you’re not investing money to get that traffic. You’re not investing your time. But if you’re investing your time to get money there are several things that you can do; Number one, go ahead and create an Instagram account and post every freaking hour regardless of what niche you are in post every single hour. Go ahead and create a video with yourself, brand yourself, brand your products everyday with your iPhone whatever and keep posting content out there. That’s what you have to do, you post content out there because now that you are saying you don’t have money but you have time that’s what you have to do. You have to invest towards the future. You have to basically spend time on getting people to click, spend time on building your following and like I said you’re investing time not money right now. That’s what you have to do. You have to get on Twitter, post every hour, tweet something, and get people to follow, have a link in your Twitter and do everything. What you are essentially doing is that you are doing social media. You are simply spending your time on posting every day or even couple times a day or even every single hour to actually gain attraction, to get a following so when you drop a link people will go there. If you want to invest your time that’s the route that you can take. You can go guest blogging, go find the top authority blog in your niche, go say that “Hey, I have some time, I’m an expert at XYZ, I can write for you and the only request that I need is that in my bio box please let me have a link to link back to my website or to my store. That’s what you can do and again like I said that gives you the opportunity to start to get free traffic and get the ball rolling if you rather invest your time over money. At the end of the day, I need to tell you one thing as an entrepreneur and as I keep growing my businesses, one thing that I realized and a lot of people say this but now I’m hitting to the point where it is a complete realization which is you can never buy time regardless of it is Mark Zuckerberg, if it is Elon Musk, if it is Richard Branson whoever it is they all only have 24 hours. By the time you have to look at it, is it worth it for me to spend my time doing that or should I be investing and getting my knowledge into ass so that when I’m sleeping I still generate sales? It’s up to you on how you look at things but I can tell you right out the gate you need to get out the mentality and you have to learn how you can manage you time wisely and that’s how you make money. How billionaires become billionaire is that every hour they’re able to produce a lot more money in that hour while they have other people spend time on working for them. Again, just some very important stuff that I want to bring up to you but there are ways that you do it. I just shared a couple with you right out the gate.
Do not feel demotivated or losing hope in everything. Seriously, Lynette watch my daily huddle every day. I’m all about pushing you guys, inspiring you guys, giving you guys tips, giving you guys strategies that you can use, that I use on a daily basis, that I actually see results with.
[0:26:17] Question 2: I test the product on facebook ads but every product I have 2 or 3 sale. What I should do next with that campaign?
Moving on to the second question by Quy. Quy asked,
I test the product on facebook ads but every product I have 2 or 3 sale. What I should do next with that campaign?
This is called chasing a market. You may be going after a smaller audience and if that’s the case or you are going to a super narrow market. If you’re doing that do you want to actually chase that audience? What I mean by that is, let’s say that you’re selling a cat necklace and you’re always going after that targeting and you’re going to hit exhaustion at one point, you want to switch up the ad and switch up a product and still sell a cat necklace. There are like millions of them out there that keeps chasing the market. And if want to learn more about chasing the market I believe in my YouTube channel one of my episodes in my “Ask Fred Lam show” that I hosted last year, I talked in depth about it. So go by YouTube channel and look for that it will help you out on that end of things.
[0:27:12] Question 3: I wish to move the testing ad (engagement) to my new business manager in my company's name. Please, how can i achieve this?
Moving on to the third question, it’s is by Abi. Abi says,
Hi Fred. I created a business page and currently have an ad campaign running (testing a product). I now have a business manager in my business name. I wish to move the testing ad (engagement) to my new business manager in my company’s name. Please, how can i achieve this?
I hope you listen to me earlier Abby about the structure of a business manager account. Now, here’s the deal if you go like well I created another account just for my business manager account that is separate from my Facebook profile and my Facebook profile actually owns my Facebook ad account right now and you need your business account to connect with that account. What you have to do is go to your ad account and you will actually notice an account ID. Every single account will have its own ID, copy that number and then go to your business manager account. When you’re inside your business manager account head over to the settings which are the business manager settings and when you’re there on the left-hand menu of the screen you’ll see add account click on add account once you click on that you will have button where it says “add an ad account” and when you click on add account you will have several options #1 create an ad account #2 is to connect to that account, you want to click and connect to that account and then copy and paste that add account number in there and then once that is done you want to go back to your personal Facebook add account and OKAY the access and that will grant access to your business manager account. I literally just walked you through exactly how it is done. If you would probably want to watch the replay or any of you that I missed you can watch the replay. It is actually a complete step-by-step obviously I didn’t show my screen but I know how to do it because I do it on a regular basis so that’s what you have to do.
[0:29:36] Question 4: Which advice can you give to selling print-on-demand products?
The fourth question of the day is by Phillip. Philip asked,
Hi Fred! Which advice can you give about selling print-on-demand products? Thanks!
The advice that I can give you is that print-on-demand all drills down to the design. It all drills down to the design. That is the most important element that you basically need. Again, there’s something that is going to blow you away this year about print-on-demand so I need you to make sure that you’re with us every day on our daily huddle. Make sure you open my emails because if you are into print-on-demand you definitely want to see what I got for you guys in the upcoming months about print-on-demand it will blow you guys away.
[0:30:18] Question 5: Heard about taxjar? How can I follow up taxes? Any recommendation to do automated?
Moving on to the last question of the day, it’s by Johnny Perez. Johnny said,
Has heard about taxjar? How can I follow up taxes? Any recommendation to do automated?
Thanks you all.
I’ve never heard of tax jar. I have actually 2 accountants and one controller so I don’t have to worry about any of these. At the end of the day, when it comes to taxes you have to talk to your local accountants to verify the information. I have shared a lot of information in my daily huddle about taxes. I don’t want to repeat myself over and over and over again so watch back my daily huddles. And if you go to fredLam.com right now we actually have transcripts of our daily huddle so you can look at specific questions
Here’s the crazy part I never brought this up, if you go to fredlam.com you will actually see a new site. I have a new site on fredlam.com and if you go to the daily huddle tab you can now type in your question in there whatever keyword and it will pull out which episode talked about it and it will tell you what are the 5 questions that have been asked and my answers to it in text. Put in the word WOW in the comment box if you guys love that. That’s what I did, I transcribed everything and we’re going to put it up on a frequent basis making sure that you guys can see the transcript version of it so in case that if you want to just skim through, what the daily huddles about, what are the questions that I answer or you just like reading text and you hate listening to my voice or see my face then I guess you can simply go there and look at the transcripts and all those other stuff.
Now, that really completes our daily huddle for today. And for some reason my stream stopped on Facebook, let me refresh it. I don’t think it really stopped on Facebook. Oh! I’m still live, excellent. Anyways, before I actually go I’m going to hype this thing up. Next Monday, regardless on whatever you do watch out for my email, WATCH OUT FOR MY EMAIL. Last year, I released my ten part video training series all about E-commerce. It walked you through step by step on how to create an E-commerce store, to how to advertise and how to analyze it and I cover a lot of information. On Monday, I’m going to go in partnership with my mentor to release a new video training series that opens up an opportunity for you in a new business in 2018. I want to kick start your 2018 where brand new business that you guys can actually look at and we’re going to release 8 video training series for you, everything you need to know to start building a new business if you want if you have the time. Into the comment box right now put in the word “excited” if you guys are excited about this. And while you are putting “excited” make sure you put in the thumbs up right now or give me the heart symbol at the same time. On Monday you have to watch out for my email because I’m going to release it at 08:00 A.M. Eastern Time. I’m going to sleep like a baby when the email goes out so I’m not going to come on live to talk about it until Monday afternoon. If you want to be the first to get this entire boot camp, a free video training series, not just one video I’m talking about 8 videos right now you need to make sure you open my email the minute that you woke up on Monday and you will get the link to register and get your account and access to this 8-part video training series.
Again, put in the word EXCITED if you guys are all excited about this. I’m truly excited about it too. This month it’s going to be all about this particular business model. It’s actually one of the business models that I talked about in my first episode in 2018. Next month we’re going to transition into something else. You’ll see what it is but this one is going to be all about that business. We are going to master it in my daily huddle. I’m going to give you tips and updates. I’m going to give you everything that you need to talk about this business model so if you guys are excited to make sure you put in the word EXCITED into the comment box in Facebook and if you are in YouTube give me the thumbs up or comment below too.
Other than that, I don’t know what you think about today’s daily huddle. I want your feedback so make sure you tell me right down below in the comment box on YouTube or Facebook. Tell me what you guys think about today’s daily huddle and Facebook business manager account; either you hate, you love it, you like it. Tomorrow we are going to be here for our daily huddle again. Make sure, Monday is going to be the day. If you want to get instant notification when I’m coming on live with my daily huddle, go to YouTube search for Fred Lam, click the word subscribe and make sure you join our notification squad by clicking on the bell icon to make sure that once I do a new video or once I come on to the daily huddle, you get instant email right away in your inbox so you guys can hop on and join us live. That’s really it for today. I look forward on seeing you guys tomorrow. I don’t know what time I will come on. I’m aiming for 6PM Pacific, 9PM Eastern but I don’t know yet because I have a crazy hectic schedule tomorrow. I’ll see you guys tomorrow. Bye now.