In this podcast I dive deeper into the world of audiences on Facebook and Instagram and how you can find top of the funnel audiences for your business.
If you truly understand this you will have a competitive advantage.
Sign up for the upcoming FREE webinar Riding the Social Media Wave in 2019: manuelsuarez.com/webinar
CONSUMER vs. CREATOR
All right! So, we’re back here on another podcast for the Facebook Marketing Ninja. Today, I have a great session. As I have told you guys a few days ago I was in Columbia. I was recording a podcast from Columbia talking about the 1%. Not the 1% financial but 1% of the actual people that are making it in this world just because they are not consumers but they’re creators.
You either become a consumer or you become a creator. Do you want to expand your business? You become a creator. Do you want to just live life, have a paycheck to paycheck, and live the rat race? You become a consumer.
If you look around, if you look everywhere, whether you’re looking at your neighbors, family, friends, at the mall, everybody around, people are generally doing one thing.
THAT ONE THING IS CONSUMING CONTENT.
How do we win the game?
WE BECOME CREATORS OF CONTENT.
THAT PUTS US IN THE 1% OF THE POPULATION CREATING IMPACT IN THIS WORLD.
Why are some of these guys winning and why are some of them not winning? The main reason why that’s happening is that these guys that are winning in the game is because they decided to put themselves in front of audiences over and over and over and over again. Not only that, be omnipresent meaning they’re everywhere whether that’s Instagram, Facebook, LinkedIn, Instagram TV, stories on Facebook, stories on Instagram, Messenger, everywhere. People that are winning the game are everywhere – not in one single place, they’re omnipresent. That’s how you win the battle in this social media game.
That was part of my podcast, the last one, the one just before. If you missed that, if you haven’t heard about it before, you should because on that one, I talked about Facebook’s Core Audience and that’s an important one for you guys to understand because on Facebook just to recap before we get into the full podcast today, which by the way I am going to be talking about top of the funnel audiences on Facebook, how to get more audiences to be interested in your bottom of your funnel offers along the way which is such a valuable strategy but people don’t know how to implement at all. I’m going to talk about that some more. But before we get into that, let’s do a quick recap on what are the audiences on Facebook?
THERE IS A TOTAL OF 3 AUDIENCES ON FACEBOOK
- CORE AUDIENCES
- CUSTOM AUDIENCES
- LOOKALIKE AUDIENCES
The top of the funnel audiences are two of them and the other one is the bottom of the funnel audience. What do I mean by that? Top of the funnel audience are what we call Core Audiences on Facebook. Also, top of the funnel audiences are what Facebook calls the Lookalike Audiences. The bottom of the funnel are Custom Audiences.
DIFFERENT TYPES OF AUDIENCES EXPLAINED
This is where you want to spend the majority of your offers on Facebook, Instagram, and Messenger. You want to be selling to people that are interested in your message already. You want to be able to communicate to somebody and know that you’re offering something to them when they know who you are already and you have done a good job of positioning your message in front of them before. We’re talking about the top of the funnel and then the bottom of the funnel. If you want to get more people to be interested in your message, then, what you do is you focus on two things. Those two types of audiences are going to determine how much you can expand your business in this social media environment.
If you haven’t listened to that podcast, it is two podcasts ago. Make sure that you go back and you listen to that podcast because that podcast is going to show you all about the Facebook Core Audience meaning the audience that you want to use the Facebook data that they have accumulated throughout the years to bring people into your world based on their interests, demographics, income levels, based on the IRS data, based on the engagement on the platforms, what is their relationship status, places that they visit, things that they like and they don’t like – all that data is Facebook’s Core Audience. You can use that information to find the top of the funnel audiences.
But let me tell you something that most people don’t understand. If you are here watching this podcast live or you’re listening to the podcast actually as it’s been recorded today on a Monday on March 18th of 2019 as I’m recording this today, there’s a very powerful audience that most people don’t even understand it exists. When I tell you that most people don’t understand, I am not talking out of some weird idea. I’m talking about the actual concrete lack of understanding that I have seen through my seminars. I talked to the American community, I talked to people in other countries, I talked to Latin America, I talked live with them. For example, when I say the word…
They still have no clue on what I’m talking about. Generally, they don’t understand that. This is a concept that was created in the Facebook social media world. What do we mean by that – a Lookalike Audience? Facebook rolled this out at the beginning stages of their advertising efforts to explain that they are helping you find an audience which is like the audience that you’re giving to them.
So again, just to summarize, we have a total of three audiences on Facebook:
- Core Audiences equals Facebook’s data.
- Custom Audience equals your data.
- Lookalike Audiences meaning Facebook is using their data to find people that are similar to your data, the audience from your data.
What is your data? Let me give you a breakdown of the things you can use, your assets, to generate Lookalike Audiences. You can generate an email list with phone numbers or emails only, and you can give that to Facebook. You can have people that visit your website, and not only that, you can have people that purchased on your website, people that add things to their cart on your website. You can have an audience of people that see your videos because that could be created and I have talked about that many times before. If you go to Business Manager on Facebook, and if you go to Audiences on the drop-down menu, you can go in there and create an audience of people that are consuming videos on your Facebook or your Instagram channel. When you do that, you can segment audiences that consume 25% of your videos, 50%, 75%, 90%, 100% of your videos. And you can communicate with these people based on their connection with you on the social media world. So that is also your data.
ANOTHER PIECE OF CUSTOM AUDIENCE A.K.A. YOUR DATA
If somebody sends you a message to your Messenger, they are part of your data. Meaning that you now have Custom Audience of people that connected with you on Messenger. If you also have people that engaged with your Facebook ads, or with your Facebook post, then you also, there, have a piece of information that you can use to give to Facebook, it is your information. So, all this world of your data could be given to Facebook and Facebook becomes your partner. Why are they becoming your partner?
Always, always keep this in mind:
AS FACEBOOK WANTS TO EXPAND THEIR BUSINESS, THEY CANNOT DO SO IF YOU DON’T EXPAND YOUR BUSINESS
It’s quite logical.
FACEBOOK IS A NON-PROFIT ORGANIZATION
They are in need to produce income and expand their businesses because otherwise, they get attacked by their shareholders. They are a public organization meaning that they want to give us better results. And if we have better results, then, they could also grow. Because if I don’t get results, guess what happens. I stop talking about the Facebook, Instagram, Instagram TV, Messenger, WhatsApp world. And, if I stop talking about this world, then, they lose clientele and they stop having people like you guys, investing money on Facebook advertising. This is a big deal for them. So, they want to work with us.
When you do a good job of grabbing your videos, email list, phone number list, the people that have seen your content, that messaged your page, engaged with your page in any way, shape, or form, when you grab all that data and give it to Facebook, Facebook now does something that they call a Lookalike Audience. That Lookalike Audience is going to find an audience whether that’s 1 million people, 2 million people, it could be up to 10 million people that is likely to be similar to the audience that you gave to Facebook. Facebook calls that a Seed Audience meaning that is the audience that they use to help find an audience like that audience. Isn’t that powerful? It is because what they’re looking at is six common characteristics, traits between these people and your audience.
When you select a Lookalike Audience, you don’t have to add any other interest, you don’t have to add demographics, you don’t have to do anything. If you have a computer, I want you guys to try this out. If you are watching this on a computer, bring it down for a second if you’re listening to it on a podcast or whatever and open Business Manager and go to business.facebook.com. In the top left, you go to the drop-down menu and go to the section called Audiences. Once you go to Audiences, around three-quarters of the page on the left side, there’s going to be a section called Create an Audience. Once you’ve selected Create an Audience, you’re going to hit it and you select as a first step Custom Audience. Now, it’s going to be a customer list. You grab your list of customers wherever you get them from. That could also be names and physical addresses.
If you have physical addresses only and no phone numbers or emails, Facebook is going to spot about 20% of them, not that many because it’s based on the data of the addresses. If you have emails and phone numbers, it goes up to 80%. If you don’t have phone numbers and you only have emails, it goes down to 40% to 60% match that use the emails and/or the phone numbers or the physical address to find the person on Facebook. And they now have that audience connected with them on the Facebook world and you can do an ad to communicate your email customers on Facebook, to your phone numbers. Again, of Facebook, Instagram, Messenger, and very soon, on Whatsapp, on Instagram TV. That’s all happening in this ecosystem right there.
Now, if you want to create a Lookalike Audience of any of these audiences, you go to the same process which is business.facebook.com, you go to the drop-down menu, you go to Audiences. And, instead of Custom Audience, there’s going to be an option called Lookalike Audience. As a next step, now you select what is your seed audience, which one is your seed audience, which audience do you want to utilize to have Facebook help you find an audience like that. That is a Lookalike Audience.
My number one strategy over the last, I want to say 2-3 years already, has been to…
GET TO THE TOP OF THE FUNNEL AUDIENCES WITH THE LOOKALIKE METHOD:
ADD TO CART, LOOKALIKE OF PURCHASERS, OF PEOPLE THAT SEND ME MESSAGE ON MESSENGER
Why? Because Facebook is going to find people that are likely to message other companies. Lookalikes of my customers, lookalikes of the top 10% website visitors, a lookalike of all these people, people that are watching videos. For example, top of the funnel audiences lookalikes of my video watchers is some of the best audience out there because now you grab the data that Facebook has about people that are consuming content on video. You then tell Facebook, “Hey, here’s my seed audience. These are the people that like to consume my marketing videos.
Can you help me find people that are more likely to also be interested in consuming my marketing videos?” And, off you go. All you got to do now is create ads for that and select your objective. Do you want to send that to Messenger? Do you want to be able to download your freebie? Do you want people to visit your website? Do you want people to just consume your videos so you can have a bigger audience that you can now retarget? What is it that you want to do? When you select the Lookalike Audience of your Custom Audience, now you have a much broader audience that you can target to bring in through the top of your funnel.
That’s basically how you find a top of the funnel audience. Out of the three audiences on the Facebook world, we got the Core Audiences, we got the Custom Audience, and we got the Lookalike Audience, two of them are going to be top of the funnel. Which ones are those two audiences? Core Audiences aka Facebook’s data, and also, Lookalike Audiences aka your data matched with Facebook’s data. Does that make sense? Your data is being connected with Facebook’s data to create a bucket of people that is likely to engage with your message and your brand.
CREATING A LOOKALIKE AUDIENCE FROM 1% TO 10%
One thing that I’m going to tell you about because you’re going to encounter this is there’s going to be a slider when you create a Lookalike Audience that goes from 1% all the way to 10%. That means 1% of the population you’re trying to reach that is the most likely to be connected with your brand. For example, in the United States, the percent of the population that is actively using Facebook is about 220 million people. If you do 1%, the audience is going to be 2 million people. If you do 10%, the audience is going to be 20 million people. It’s just simple mathematics. The one thing to keep in mind about this is what do you think is going to happen as the audience gets bigger and bigger and bigger? If you do a 1% lookalike, that is the tightest probability, the highest probability of having an audience connected with your brand, with your message, and like your customers, or like the people important to you.
If you have a 10% lookalike audience, then, we’re talking about a 20 million people audience in the United States which is way less likely and broader than that 1% lookalike audience.
YOU GO FROM 1% TO 10% DEPENDING ON HOW FAST YOU WANT TO GET THERE, HOW MUCH YOUR MARKETING BUDGET IS.
If you have a small budget, let’s say that you have a $100 a day budget or even $1000 a day, I wouldn’t go anywhere above the 1% to 2% Lookalike Audience. Why? Because you want to…
MAKE SURE YOU COMMUNICATE TO THE RIGHT PEOPLE. DON’T GO TO A VERY BROAD AUDIENCE.
Out of 200 million people in the United States, 20 million of them are not going to be your customers – most of them are not going to be your customers. You’ve got to do a better job of getting closer down, more tight, with an actual possibility of a real audience interested in your brand. Having somewhere between the 1 to 2 to 2 and a half million range is a large enough audience for you to invest a thousand dollars a day and see right away, or $100 a day. Or, if you’re not at that level and you’re trying to invest, just get going and invest $10 or $20 a day, that’s more than enough.
Ourselves, we do about $20,000 to $25,000 a day, every single day across a few of our brands. So, we do a lot of investing in Facebook ads right now. Some of our strategies are broader, meaning that we go after 10 million people, 15 million people because we want to get effects faster and we also want Facebook to distribute our message out at a much faster pace overall. So, we go more aggressive. But, if you want to find a more tight audience that is likely to engage with you, make sure you keep that between the 1% to 2%.
Again, if you do a 2% in the United States, that’s going to be like a 4 to 5 million audience, it’s going to be a pretty big one. If you do 1%, that’s going to be a 2 to 2 and a half million audience. It’s 1% of the total audience in the country. If you’re in Australia, I don’t know how many Australians live in Australia right now which is maybe 30 million people, 50 million people. I’m guessing, I’m not 100% sure on it at all. But, let’s say that it’s 30 million people that are actively using Facebook in Australia. Well, the 1% audience is going to be several hundred thousand people, it’s going to be 300,000 people. That’s just simple math. I hope that it’s correct, I think it is. It gives you an idea, right?
So, if you want to target instead of 30 million people, you want to find out a specific audience to target, then you do the 1% lookalike and you get 300,000. If you want to want a broader audience because you think that your audience is going to be more interested and you have an audience that is not that niche, then, maybe you want to expand it to a 2% or a 3%. So, what do we get? In a 30 million country, then, you go up to 600,000 at 2% and you go up to 900,000 at 3%. So, that’s what you decide.
But, along the way, the one thing that you keep in mind is that
THESE AUDIENCES, ALL OF THEM, ARE TOP OF THE FUNNEL AUDIENCES.
Usually, the way the Facebook advertising works is that you want to position a message in front of people maybe with no call to action or maybe with a soft call to action. The hard selling happens afterward on that second contact, third contact, fourth contact, et cetera. The most common reason for failure in Facebook advertising right now is:
PEOPLE ARE TRYING TO SELL WITHOUT PROVIDING VALUE FIRST
If they don’t provide value first, people immediately see them as sleazeballs that are trying to get something from them. They are conditioned to not believe anything out there that has not done anything to provide value first to educate or do a good job of positioning themselves as somebody that knows what they are talking about, somebody that is connected to a brand overall and believes in their business overall.
The way you do that is through creating audiences with video watchers, engagements, campaigns to create attention towards your business, send people to your website so they can see your blogs, videos, et cetera, on your website. If you do that, you’re going to start building audiences and audiences that now you can retarget, and now, you can build Lookalike Audiences from these audiences that you did a good job of building along the way. I hope that makes sense. That is the strategy in the social media game.
The good thing is, it is so affordable especially in some countries in the world. It is still today so, so cheap to do Facebook advertising that I don’t know why people are not flipping out more about it and just going all in. I know that I, I’m working hard on really walking the talk because I understand how big the opportunity is and I want to make sure that we get as many people out there to become successful in this social media world as possible because there are massive opportunities.
That’s basically what I want you guys to have as a piece of information today which is valuable. If you guys have not listened to that podcast in which I talked about Core Audiences (Audience Discvoery on Facebook – A Deep Dive Into Facebook’s Core Audience), make sure that you do because, in it, I did some mind-blowing. It was one of my hottest podcast ever. If you haven’t checked that out, make sure that first of all, here’s my pitch – subscribe to my podcast because if you haven’t done so, you might be missing out on some content. Subscribe to my podcast, write a review. But, go and check out on that podcast because that podcast is one in which I covered some of the recent updates on the core audience, meaning Facebook’s data.
To give you an example, one of those updates is the fact that if you have a higher income, higher ticket item let’s say $100, $150, $200, a couple of thousand dollars, do you know that now, Facebook has access to public IRS data so they can target based on income demographics? Meaning that they can target based on the zip codes that make over $100,000 a year or the zip codes that make $150,000 a year, or the zip codes that make less than $60,000 year. You can exclude all those guys. To give you guys an idea that some of the power that you have from having relationship status information to information about what they’re interested in, what they are not interested in, all those data are in there and I covered these in detail two podcasts ago that is something that really compliments this particular one right here that we’re doing today on the subject of audiences on Facebook and top of the funnel audiences.
One of the main things that is happening today is people that do Facebook advertising do not understand what we talked about on this podcast today.
They don’t understand how to build audiences that they can then retarget and then they can then use to create Lookalike Audiences to have Facebook help them find similar audiences. We have it.
You have the data now, I have the data but most of the people don’t.
Don’t take it for granted and do something with it because if you do something with it, you will see yourself expand guaranteed because the opportunity is a new one.
No other platform ever had access to being able to create this powerful algorithm that allows you to find these people that are likely to be connected with your brand. You see other companies and other algorithms right now trying hard to copy what Facebook built. YouTube is trying to build its Lookalike Audiences. They’re not even half as good and it makes sense why right?
When you go to a house, you go to a computer and you go to google.com, generally, the same 7 people in that house use the same YouTube account. People do not sign in and sign out of YouTube accounts. We all sign in and sign out of our Facebook accounts. Nobody is allowed to use Instagram for somebody else’s. Instagram, Facebook, and Messenger are the single most individual platforms ever built. Nobody shares them with anybody else. That’s just the reality of what we got right now. For example, even women have their husbands, they have their own YouTube mobile apps. They usually use their husband’s login information to log in to YouTube. It’s pretty crazy and that’s why the opportunity is so big and when I tell you that most people don’t use it, I’m telling you guys, .01% of the people that I have encountered through the seminars that I do all over the world don’t even utilize correctly their Facebook Business Manager and you guys already have that data.
Now, it looks like it’s late in the game because there are so many people pumping some crazy content out there. But those people, if you guys observe, if you guys just look around at malls, shopping centers, parks, families, neighbors, parties, et cetera, all these people are doing is one thing,
THEY ARE CONSUMING INFORMATION, CONSUMING CONTENT. THEY ARE NOT GIVING IT.
So, the way that we win is we actually put it out there consistently and then we
BECOME THE ONE CREATING CONTENT AND A PART OF THE .01% AND WIN THE GAME
because that’s what makes us special – people that can get in front of the camera, do podcasts, do videos, do images, do articles, do, do, do all the time and create audiences. When we do that, we win the game. If we don’t do this, we lose and we become part of the 99.9% of the population that all they do is consume content all day long.
So, what are you waiting for? The opportunity is quite big, I’m telling you guys. I’m seeing it every single day. You don’t have an agency. I’m building my brands along the way. The opportunity is not something to be taken for granted. It’s something to jump all over it and do something with it because it’s not going to be around here for a long time. In about 5 years, there’s going to be a lot of more companies doing this, a ton of more companies. In about 10 years, it’s going to be crowded. And, when it gets crowded, what’s going to happen? Supply and demand is going to win out. Now, if you want to advertise, you’re going to have to pay a lot more money.
Right now is the time to go heavy at first building audiences, video watchers, website visitors, Messenger subscribers, all that stuff. And now, retargeting those audiences and also, using those audiences that are interested in you to have Facebook help you find audiences that are like the ones that showed interest in your business. It’s quite logical, it’s common sense. So, all we’ve got to do is just get in it and start going and start doing. The more you do every single day, the faster you get there. I’m not even close to where I want to be. I like talking to you guys here and I am doing this and I want to get people to sign up to my program and things like that of course but I’m just getting started myself.
So, I am not taking it for granted which by the way, before we end today, I’m going to ask you guys a favor. This is the first time right now that I announce that the webinar that I am holding on the 28th of March is now live and you can register to it. This webinar is all about riding the social media wave in 2019. I’m going to give you in it a series of strategies that are working today across the brands that I manage to explode businesses in this social media era. If you guys don’t know what I’m doing, I’m doing a ton. Dr. Eric Berg, my dad, Frank Suarez, I’m helping Grant Cardone with projects. I’m doing a lot and I know what’s working and I know what’s not working. I’m doing over $1.7 million in Amazon myself and another $4 million off of Amazon on e-commerce.
So, I have a lot of data and I want to give you guys that data in my passion and in my effort trying a lot of more people successful along the way. So, I’m going to give you guys a chance to register and be one of the first ones to register. I know a bunch of people here with me on the Facebook live which you guys on the podcast make sure that you join me on my Messenger community and my Facebook page by going to m.me/ninjamarketer or facebook.com/theninjamarketer so you can access my Facebook page and not miss out on this awesome live podcast sessions along the way that I do once a week.
SIGN UP TO MY WEBINAR!
So, if you guys want to sign up to the webinar that I have coming up on the 28th of March which is 10 days from today. If you’re watching this, later on, we’re going to have a replay for a few days to the 4th of April. It’s going to be available for you to watch it and then it’s not going to be there. So, if you guys are listening to this podcast afterward, stay tuned for the next webinar that I’ll be holding at some point in the next several months.
But, this one right here is going to be an epic webinar. I’m going to give you my best. My webinars always kill it. People that come to my webinars say that it’s been the best webinar that they’ve ever done. I always try to beat my standard every single time. So, make sure you come. Go to manuelsuarez.com/webinar and register to the webinar “Riding the Social Media Ads Wave in 2019” so I can help you take your business to the next level and get the advantage of massive opportunities that we have in front of us. Because trust me, they are pretty massive and I want to help you guys take advantage of it.
So, manuelsuarez.com/webinar. Go and register and I will see you on the webinar on the 28th of March at 3 PM Eastern Standard Time. All right guys. Thanks for being here. Thanks for following on my podcast and I will see you on the next podcast episode hopefully next week.