What is up everybody? Fred Lam here and welcome to our daily huddle episode number 45.
Right now, there is something interesting happening right now. I’m actually broadcasting our daily huddle as well on Instagram. The reason why I’m actually doing this on Instagram is because there is a specific trend that is happening right now in our industry and more importantly when it comes to social media on basically your brand and your store.
As you guys all know last week, Mark Zuckerberg from Facebook actually released a massive statement all about enhancing or enhancing or basically what we call changing up the algorithm for newsfeed and what it really said basically in brief is that Facebook wants users on Facebook to actually spend more time in their site. Obviously, the more time they spend on their site the more advertising dollar they are going to make. But at the same time it’s actually kind of sabotage Facebook pages. So pages for business is going to get affected because Facebook will actually want more user to use your newsfeed that is showing up.
As we all know, typically I would say earlier last year, Facebook make an algorithm change for Facebook pages and you’ll be great, it’ll be phenomenal if you can even get at least like 1.5% organic reach when you are actually posting on your Facebook page. Now with that, with the new update that Facebook has released, it really killed Facebook pages absolutely at the end of the day. Obviously we want to engage with your followers, your brands and that’s basically an area where you don’t actually have to spend advertising and still get in front of every single users; however, with the new update then what’s going to happen is that Facebook pages are going to be dead.
The organic side is going to die, but it actually opens up an opportunity for Facebook advertisers because obviously if you want to play the game, you got to actually know and to actually master basically Facebook ads. As you guys all know I’ve been actually teaching a lot about Facebook ads and that’s what I’ve been doing – is to sharing knowledge with you guys on how to run ads on Facebook, simply how to optimize it and all those other stuff now.
Obviously in my topic today I put in why you actually or you must have Instagram now for your Facebook page. So as you guys all know if you guys actually watched my ask-a-pro interview with Grant Cardone, the guy from 10X who’s a phenomenal guy, super knowledgeable and we we’re actually having a debate about Instagram and I was like I know that Instagram is a goldmine but I don’t even have the time to really focus on it, but now because of the Facebook update that has been released, is really forcing me to start using Instagram because in Instagram, the engagement is a lot higher.
Most importantly, for any basically Instagram pages or basically your Instagram profile, you will get a much better organic reach than Facebook right now. If you actually want to maximize your advertising dollars and to really basically have a social present where you don’t actually have to invest money to actually get traffic; well guess what, start investing your time and effort in Instagram right now.
Here’s the deal, the reason why I would say this is my guess, but obviously being in the online industry for quite some time now, I came to realize that Facebook is literally running out of inventory. They’re running out of spaces to actually show on the newsfeed to a user. Obviously, yes Facebook is a “free” platform but they need to actually make their money from the ads. Now, if they actually put in a lot of organic posts on a Facebook page and basically showing your friends feeds at the same time, the spaces are going to run out. So inventory runs out.
So that means that there are actually less placements for advertisers like you and I to take advantage of. So if they actually basically said well you know what we’re going to actually cut the organic reach from Facebook page, that will actually give a much higher inventory level for advertisers like us to actually take advantage of it. Now what does that all mean? Well simply in simple English, it really means that Facebook add dollars will only start to get more and more expensive in the years to come because there are so many advertisers right now on Facebook that are competing with each other to actually get that placement.
As well all know, any advertising platform is auction-based, so with that, then what’s going to happen is that advertising dollar is going to increase, your CPM is going to cost more. So what will basically affect you and I it will affect drastically because that means that we are basically leaning to spend more money to actually acquire a customer with any businesses that you actually have or own.
So with that being said right now there is an opportunity in Instagram because Instagram – they have a lot of inventory. It is unfilled inventory. So when there is a lot inventory when there’s a lot of supply and low demand, well guess what that means that the cost of advertising is going to be far, far, far less like FAR LESS okay.
There are several placement obviously on Instagram, when it comes to Instagram story ads and also Instagram feed at the same time. So, I can see a perfect opportunity right now in Instagram okay a perfect, perfect opportunity and I hope that I will have enough time to actually create some video training for you guys just to talk a little bit more about Instagram ads and how you should actually work on your ads when it comes to Instagram.
So if you guys are excited about this and you guys absolutely want this, put in the “me” right into the comment box on Instagram, Facebook or on Youtube right now, just put it the big, big, big “me.” So again, at the end of the day as we all know, advertising always change, online business models always change and you always need to be ahead of the game and always basically see what were the trend is t and that’s where you get to actually go right in and at the lowest cost possible, master it before everyone start jumping on to it and that’s how you can actually make obviously a lot more profit.
All right, so for those of you to actually don’t know or first time joining us. Our daily huddle is all about me sharing knowledge of you guys and answering five burning questions. So if you want your question to be featured in our daily huddle, simply go to www.fredlam.com/ask put in the information in there, ask me a question and I will get it featured.
So with that, again as you guys all know, make the official statement a couple days ago that I am now on Instagram. So make you follow me on Instagram. I’m going to actually share of you a lot of stuff. Everyday I’m going to post some @tips. I’m going to actually show you the background scenes of my lifestyle. Actually, over the weekend I share a lot of what I was doing, shopping around and then drinking my cup of coffee and if you want to actually get behind the scenes, make sure you actually follow me on Instagram.
[0:08:19] Question 1: How do you know if you need to move on from a niche? I've made 4 ads in total trying out two different adsets. The Ads are generalized for sure but I was expecting at least couple of sales...
With that being said, let me actually dive right in into our five questions of today and you guys might wondering what the heck are these. You’ll know in just a minute on why I have these right here on my desk right now. So let me dive right into the daily huddle first. The first question of the day is by Peter Ko – Peter Ko asked,
How do you know if you need to move on from a niche? I’ve made 4 ads in total trying out two different adsets. The Ads are generalized for sure but I was expecting at least couple of sales…
So first let me tell you this, Peter you got to be patient when you are actually creating your business. You will not see instant results. If anyone actually tell you that you are going to instantly make a lot of money overnight, that is absolutely bullshit, okay? I’m just basically flat-out telling you guys that. Right on the gate, when you actually find a product it doesn’t mean that product will take off. It will take some time for you actually understand the algorithm, understand how to actually set up an ads and most importantly, understanding the behavior on the other side of the screen.
Because what you’re essentially doing right now is that you are investing in your own knowledge on understanding your niche a lot more. Obviously at the end of the day, to understand Facebook ad so if you were to ask me, well Fred I tried a lot of products let’s say that you’ve tried over 25 different products, you ran 25 different ads and you are unable to actually generate a sale. If you’re not able to generate a sale, then obviously it may mean that the niche is basically not right for you. A a matter of fact here’s the important stuff – it is never the niche to has a problem, it’s really the product that you sell has the problem or the products that you sell have the problem because you are not basically creating a rapport or basic understanding on the other side of the screen what that person actually is looking for within that niche.
So as I always tell you, if you want to master in any form of online business regardless of its e-commerce, affiliate marketing, email marketing or anything, you need to be in that niche yourself because if you are not even persuading yourself to actually buy the product, guess what, the other person on the side of the street that is a stranger will actually not buy the product on your store. So again, like I said you got to let data let you the story and you are investing in yourself and in your knowledge and in your business to know more about your customers.
You won’t get results right away, right out the gate obviously unless if you know your niche very, very well and if you aren’t within your niche on a daily basis, then you will actually have sales that’s start skyrocketing. Now I do have a lot if case studies that people actually start right out the gate and start making a lot of money at the same time too. But again like I said, it’s a very, very rare case. You got to actually master your ads, know your audience and that’s word magic actually comes in place, all right.
[0:11:16] Question 2: Can i make a ecommerce business with just using an iPhone?
So moving on to the second questions is by Danial Zamlan.
Hi, i have a question that I’m really struggling right now. Can i make a ecommerce business with just using an iPhone? Because i dont have any laptop to start a business. Thank you
The answer to your question is actually a NO. The reason why it is a no is because you still need access to a laptop or computer to actually set up your website okay and obviously it would be great for you to actually run ads on a desktop device and actually optimize your information. Now, if you’re going like well Fred I don’t have the options to actually get a laptop. I don’t have an option to actually get a desktop. There are two options for you to take. Option #1 : What you wanted to do is to simply go find someone on Viber to help you actually create your store. It may cost you $50-$100. Have them create your store and simply for every product you upload, you maybe give them like $3-$5 for a product you upload. So what you’re essentially doing is like you’re the general lieutenant who is basically telling your minions on what they are doing and all you’re going to do is basically run ads through a mobile phone. Because right now, with the technology you can actually run Facebook ads through a mobile phone, just like the thumb stopping ads that I actually talked to you guys about or share of you guys how to use it. You can actually run it through a mobile device at the same time.
So you can actually set up ads. Now, option #2 : It’s going to be a lot more easier if you are hungry, if you want to succeed and you don’t want to find an excuse for yourself, all you got to do is very simple – go to a freaking library. Go to the library! There are computers at a local library where you can actually use it and start building your store. All you need is internet access. If you’re really hungry on become an entrepreneur, you would actually take the bus, walk down the street, bike and actually find a computer to actually work on your business.
There is no absolutely any excuse. All you got to do is simply just go to a library, right. There’s always a computer at the library that you can use. Again, these are what you do and what you can actually go after.
[0:13:45] Question 3: E-Commerce businesses through Shopify are obviously working but I can't seem to get my head around why people would buy from our stores instead of going directly to Aliexpress or Amazon to buy the exact same product at a cheaper price? Could you kindly explain this to me please
So moving on to the third question of today is by Anna Poyiadjis – Anna asked,
Hi Fred. E-Commerce businesses through Shopify are obviously working but I can’t seem to get my head around why people would buy from our stores instead of going directly to Aliexpress or Amazon to buy the exact same product at a cheaper price? Could you kindly explain this to me please?
So, Anna you have to understand one thing, I would actually tell you, I would challenge you right now to go out the street find ten people find ten strangers and ask them, “Do you know what Aliexpress is?” and I would tell you majority of them are going to tell you, “What the heck is Aliexpress?” You yourself are in the market. You yourself have been going through a lot of training. So you know about Aliexpress. It doesn’t mean that obviously this person that you’re going to ask to knows about Aliexpress at the same time.
So you’re coming in based on assumptions, assumptions based on the information that you already know of. And that is very important that you need to actually throw that away. Now why would people rather buy on your site then basically going to Amazon or all those other stuff?
The other thing is Amazon obviously doesn’t simply have every single person in the world that actually buy the product. If they do, they’re worth like trillions of dollars right now. It would have worth more money than actually Apple. Now the other side of story going to be the psychology side, when you are running ads, you need to understand that you are actually running the psychology of your business. So if you actually – let’s say that if a person is actually in market or basically is in the niche – I can’t find example, I don’t have any products around my table right now, but let’s say that if you are basically expressing interest in a particular niche. Let’s say fishing, and you’re just scrolling around, looking at stuff on Facebook seeing some posts abut fishing and then suddenly you saw a product that peeked your eyes that you absolutely got wowed and wanted to actually buying the product right away because it will help you for your fishing trip that you’re going next week or whatever.
If that’s the case, the person is starting to get impulsive. The person on the other side like snap, I want this now. I can see this. I want this now. I don’t want to actually have that slip. That’s why at the end of the day, for your product pages we keep telling you to actually add in scarcity. Like social proof of people buying the product, countdown timer or how many people that are watching that page because you are basically getting that person to want your product even more and instantly take out their credit card.
So, you have to actually understand that and reflect back the last time you actually bought a product basically on an online store. When you saw an ad, you’re like crap I want this now and when you are able to actually go into that person’s mind and basically have them in their mind saying I want this now. You got a sale right away and you don’t even have to worry about that person going to Amazon, going to Google to actually do a search because the end of the day they absolutely will not because they are impulsive and they wanted to buy right away.
All right, so put in a “1” into the comment box if you guys agree with me on what I just said. It’s all about the psychology and ultimately at the end of the day, it’s all about your numbers. Your CPA numbers, it;s all about your numbers. It doesn’t matter how much Aliexpress sell it for. How much Amazon sell it for. As long as you are able to actually generate profit, that is the key. You do not have to worry about what happened on the other side of the world.
You don’t have to worry about competition because you just have to basically worry your own business and you got to basically pay attention to it and make sure you actually run profit to it. Guys, if you are actually on Instagram and you actually have not followed me, make sure you follow me, I will be broadcasting our daily huddle every day in Instagram as well, so that I’m basically covering as much people as possible.
[0:18:22] Question 4: Besides FB Ads, what other three traffic sources do you recommend for a shopify store or affiliate offers?
Moving on to the fourth of the day and before I actually start looking at the comments, I saw a lot of love symbols, heart symbols coming out in Instagram. I love it! Keep those coming. So moving on to the fourth questions of the day is by Brandon Whitworth – Brandon Whitford asked,
Besides FB Ads, what other three traffic sources do you recommend for a shopify store or affiliate offers?
So the three traffic sources that I highly recommend right outside of Facebook ads will be Instagram ads. This is definitely something that you cannot ignore nowadays. The second is going to be Google ads and the third is going to be Bing. Right now, we are giving so much opportunity and so much resources and avenues for us to actually drive traffic. So, if you’re just telling me what are the top three besides Facebook, Google, Instagram, Bing. These three are the top three right besides Facebook ads. Again, I am working on something that it’s going to blow you guys away and there’s going to be a lot of training for free that I’m going to cover all about ads.
What I’m planning on doing is that in the near future, I will be creating a lot of video training series with something that I’m building right now. Hopefully it’s going to be done by February and you guys are going to get a hell a lot training okay. Again, if you want to get my video training, you’ve got to subscribe to my Youtube Channel because obviously this video training are pretty long and you obviously have to actually subscribe to my Youtube Channel to actually get notification. Make sure you click on that bell, there’s that bell symbol because you can actually become our notification squad and get instant notification right away.
[0:20:01] Question 5: Do you advice to put only one or multiple interests per adset ?
Moving on to the last question of the day, before we actually announce something massive which is by Tom Graph, Tom asked,
Do you advice to put only one or multiple interests per adset ?
I always go with one. I do not go with multiple interest in one asset unless if you are flexing it down or you’re using the double interest rate targeting, and the reason why is because you want to micromanage your campaigns. You want to figure out which audience is converting for you, which audience is not, which audience is killing your [unclear 0:20:34]what audience is making you a fortune? You need to absolutely figure out that and if you actually put in all the keywords or all the interest into one, then what’s going to happen is like you don’t know where your ads are going to show, who is it showing to, why is it working etc etc.
So that’s what you want to do alright so. And yes I can’t live about Starbucks and this is a recyclable cup so don’t worry. Alright so put it in a “2”, write in the comment box if you guys enjoy our daily huddle today. I’ll be honest with you guys, I have to quench my eyes to see the comments on Instagram because my phone is over there and it’s very hard for me to see.
One important thing that I want to share of you guys is my assistant asked me to do this. Please do not send to me your store for review. I’m not going to review your store in our daily huddle. All I’m going to be doing is just answering questions fast and right away and give you answers to it, so at the end of the day we’re not wasting any person’s time.
I don’t do campaign reviews. Not for public. I do not do it. Just letting you guys know. All right, so moving on to what’s going to happen next with our clapper. So we’re looking for so obviously today is Monday and for those of you that are not actually aware of this, every single Monday I actually announced the winner to our kickstart 500 grants. Now, what is our kick start 500 grants? Well what’s happening is that every single Monday, okay every single week, I’m investing in a single individual. You’ve got to be a serious individual who wants to actually start building a business but don’t have the opportunity to do so.
If you are the person and if you want me to invest $500 cash right into your business so you can actually start building your store, start building affiliate marketing start building, start maybe start buying traffic then you got to go to www.fedlam.com and you’ll see something called kickstart 500 grants all you got to do is just put in your information and it is a long process okay. It is an application and once you actually qualified and once you are selected as a winner okay, I’m gonna send you a to do list where you’re going to actually do everything on the day that I actually send it to you and in 30 days if you accomplish everything I will get on to a one hour consultation call with you and you can do and we can do campaign reviews, you can ask me questions, I’ll tell you how you can scale your business, what you absolutely needed to do so if you guys want to actually have me invest $500 in your business and also get a chance to get one on one consultation call with me, you got to go to my website www.fredlam.com and check it out.
so put in the word ‘excited’ if you guys are excited about announcement of our winner this week and while I’m waiting for somebody to actually come in, in previous episodes I asked for a drum roll. I was announcing that I need to figure out and find a way to actually buy drum to actually do a drum roll then all of a sudden my assistant just came in one day with like this clapping hands and she’s like, “Oh this is so cute. You don’t need to use drum rolls. Use this!”
I was like all right, I guess I’m going to be using clapping hands until I get my drum roll. So with that being said, let’s do the drum roll. So our winner for this week for our kickstart 500 grant is Javir Pinda. So why is she got picked? Now a lot of people ask well Fred why do you only find people that are having like a sad story to pick? Not all the time. okay the reason why we picked Javir this time and obviously congratulation to Javir, is because she has actually been in our daily huddle almost every single time and she has brought up really amazing questions and she is or he is a hiroshi.
She’s always up for learning and she’s really taking advantage of our daily huddle and obviously if you are in our daily huddle on a daily basis ,it really showed to me that you are serious about your business. So, congratulations Javir. She’s basically in e-commerce right now and she’s actually building a store. So, I am excited for you and I’m going to actually send $500 to you where you can actually start building your store and basically if you’ve got yourself all completed, I will make sure that you get a one on one hour consultation call with me.
Tim James said buy a gong on Facebook. All right! I actually never thought about that. That’s a good idea. Let me actually check out a gong on Amazon or Google or if an ad suddenly pop up on Facebook, that’s someone selling me a gong, I think I will pull out my credit card right away. So I don’t have to do any of my digging. So some big shout outs to people on Youtube, I got gaming with Biovo, Ken here with us, Delana, Merged, Deandre, David. I got a lot of people here on Youtube. Absolutely love you guys.
I got Kevin on Facebook, Galie on Facebook, Nathaniel, Janelle, Jose, Rick, Mike, Mark, Narady, Mike again, Easie. I got a lot of people right in her. I got Bill, that just said hello to me and let me see right now on Instagram. You guys are not talking on this screen I see a lot of guys joining us but I don’t really see much. Let’s see, I got Fredo Lita. Vancouver was amazing. I was there for the holidays. I got bb1geezle. I got a lot of people her. First time doing Instagram live, which is pretty interesting. Dyers said I’ve got 200k followers. Sweet! Good stuff!
I’m going to try to get a $100k followers that’s what my plan is right now. Anyways that really completes our daily huddle for today. Now guys, if you have not followed me on Instagram, make sure you actually follow me @fredlamofficial. If you’re on Facebook which today, I crossed 50,000 followers on Facebook, really excited for that milestone and if you haven’t follow me on Facebook, make sure you follow me on Facebook. Most importantly, Youtube is going to be the best channel for me to actually release any video training and actually get a notification instantly when I’m actually coming on to my daily huddles. So, make sure you go to Youtube, search for my name, subscribe to my Youtube Channel and most importantly, click that notification bell and join our notification squad.
So each time I come on live like today, I actually came on 30 minutes before my expected time only because I got a dinner to go to, so it’s still great that a lot of you guys actually joined us, but at the end of the day, if you actually want to get instant notification for our daily huddle, make sure okay you subscribe to my Youtube Channel. Other than that, that’s it for today and I’ll look forward on seeing you guys tomorrow at around 6PM pacific 9PM Eastern. I’ll see you guys soon. Bye now.