Podcast Description
I get a bit sidetracked with an important rant and then I dive into the most important Facebook metric you get access to as an advertiser: COST PER RESULT.
I also have something special for you guys. I made a Glossary of Ad Terms including the metrics so you can have a full understanding of all these important words that you will run into as a Facebook advertiser.
To get access to this document, go to manuelsuarez.com/metrics to download now.
Podcast File
The Most Important Facebook Metric: Cost per Result
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Podcast Transcription
Hope you’re having a fantastic day or night or weekend or whatever the case may be. I know that you guys listen to me in all kinds of different hours. That’s how I listen to my training. Sometimes I listen to the training on the shower. I’ve been doing that for years actually. The shower is such an incredible area of expansion for me because, for me, it’s like I get a lot of great ideas while I’m showering while in the bathroom. I hate silence. I hate spaces where there is no sound. I like to just keep on listening to training particularly to just keep on improving myself consistently.
So, that’s a great thing about podcasts. Ever since podcast became a thing, I started diving into it and learning all over the place and just never stopped since then. I know that maybe some of you guys are like that, too. In the car, on road trips, and before you go to bed, your wife might looking at something, the husband might be doing something else and you just start looking to grow. Go a little bit longer, grow a little bit more, get yourself to the next level. That’s what it’s all about. Knowledge, it’s one of the biggest cliches in this planet. Knowledge is power but in reality, it’s so true. That’s what it’s all about, guys. How much do you know and how much energy do you put behind it? How much information you have and how much can you do with that information? That’s what determines the end game. The ones that are winning in life put a good amount of time into learning and equivalent or even bigger, a larger amount of time into implementing what they’ve learned along the way. I’m one of them. I can tell you one thing. You guys have been listening to me for a while. My viewpoint about life, about my accomplishments, is like, “Are you serious? I’m just getting started.”
If you would have asked me five years ago what do I dream about maybe incoming by the end of my life having as a gross income for my life and my family household, I would have told you something way less than what I’m incoming right now. And I would tell you that at that moment I would have thought that I was hallucinating and dreaming that that was impossible. And, I’m crazy thinking about those numbers but I’m a dreamer. It’s pretty crazy, right? Like right now, I look at the numbers and what I’m making, my income lines, and all the different things that I do, it’s beyond what I’ve ever thought about possible. But that’s the way it is. You keep on excelling, you keep on getting yourself to the next level and it’s an incredible, beautiful process.
Gary Vaynerchuk who is somebody that I admire a lot that I’ve been listening to him and actually, I’ve connected with him a couple of times. I’m actually on one of his episodes on the Daily V., I come out in his office, spend some time together with him. He talks a lot about how he enjoys the process, not looking forward to an end of the process. Not like I want to be a millionaire. When you’re doing this job, for me, it doesn’t feel like there’s an effort. It doesn’t feel like it’s difficult. Right now, I just got off a 2-hour, guys, I just did a 2-hour, right now, webinar with my staff, only with my staff, particularly my Facebook department to teach them about something incredibly ninja things that I’m learning and improving on along the way myself. Believe it or not, I am still learning more every day and I am more confident today that I know nothing.
You would think like, “Wait for a second, aren’t you the Facebook ninja?” Well, I am. But in reality, I understand that in order for me to keep on growing, I have to consistently believe that I know nothing yet. The thing that I know with the most confidence in the planet is that I haven’t discovered 95% of my true potential yet of what I can accomplish in life. And, how do I get there? I keep on pushing every single day to get better because I’m a dreamer, I have all these ambitions. Not only that, I love helping people. I love having you guys listening to what I have to talk about and going out there and having mind shifts and implement some of the stuff that we’ve talked about and some of the stuff that we’ve learned. That’s basically what it’s all about. I don’t want to just sell products behind the screen. Cool, it produces income. It improves the quality of life. It’s important. But, I’m in it for the long run and I really want to create an impact in this world. So, when you do it that way, you don’t get tired.
Guys, you will think like 2 hours of talking, going step by step, teaching my staff about things, ranting nonstop about things and then I would have given up for the day and just start drinking water to hydrate myself and, no! I think about you guys. I wanted to do a podcast today and it was on my schedule. Sometimes, because of the way I am, my schedule is not always kept at 100%. I can tell you for example that the director of my company, my EB who’s the one that administers my schedule and everything, he gets pissed off because he wanted me to do a one-hour training and I ended up doing a two-hour training and that screws up my entire schedule so right now, I’m here driving back home and I’m recording this podcast in the car with you while I’m talking to you guys because I couldn’t record it in my usual spaces sometimes I like to record. I did my whole Facebook Master’s Course, I don’t know if you guys know about that. Maybe most of you guys do but that Facebook Course, I record it in my studio and there I try to have my set up for the podcast but it doesn’t always happen like that. So, I take advantage of the time driving back and forth to give you guys a content that I know some of you guys are looking forward to.
Now that I have mentioned the Facebook Course, I’ll probably be launching it again in about 3 months. That course has been life-changing for a lot of people. People have had incredible changes in it. They are becoming masters in dominating traffic and it’s really opened up a world for them that they didn’t even know it was accessible. If you want to sign up for the next one, you go to manuelsuarez.com/waitinglist and we’ll be notifying you once it reopens.
So that’s a little introductory rant of the day. I’m excited about the future more than ever right now. It’s crazy how people talk about how you get lucky and things are getting better and then you become successful. But I think that luck is one of the biggest lies on this planet because there really isn’t such a thing. When it comes to success, I don’t think luck has anything to do with it. Seneca, a philosopher had a quote if I’m not mistaken talks about what does luck means? And it talks about when preparation meets opportunity. So, that is more real. Because, if you work yourself really hard, if you learn, if you consistently apply yourself because you’re not happy with your current condition, then, in reality, you can be presented with an opportunity because of a new connection, a new person that you meet, somebody that can influence your life in some way and maybe offer you something that if you weren’t prepared, you couldn’t take, you couldn’t do. So, in reality, success is so little about luck and so much about implementation, execution, and learning. Consistent application, stop wasting your time, and those things that are not helping you in your happiness, in your survival. Happiness basically is really engaging yourself in those activities that make you feel good. For example, for me, working 14 hours a day makes me happy. Well, I’m a happy man. My mom would tell me like, “Son, you’re working too hard.” Of course not! I get upset about having to stop working. I love working. For me, just like for a 12-year old, Xbox is so much fun, and playing Halo or playing this new game that right now has blown it up all over the place. Forgot the name, but there’s this big name that everybody is into. It’s like world domination in this new game that everybody has on their mobile devices, Xbox, PlayStations, everywhere.
When you actually love what you do, it doesn’t feel like you’re actually working at all. It’s so much fun to actually just be here talking to you guys knowing that a lot of people are going to be listening to this message and maybe realizing a thing or two and making some changes from that. If you guys are really happy where you are at, if you’re satisfied, if things are rolling, if you like to go, play football in the weekends and you like to go on vacation a lot, you make enough money to be able to meet then you’re fine, right? You don’t have to worry about that. But, if you have a situation in which you’re complaining that you want to accomplish more, that you want to do more, that you have bigger goals and ambitions, then, guys, I want you to realize that there are opportunities out there that you can actually grasp. I’ve been doing that for the last few years and I’m just getting started. Like where I am at today, I can tell you one thing for sure, it’s not even close to where I’m going to be in the next two years. Now, I understand that now because I understand my power, my ability how I help myself and those around me.
But, it’s a process of discovery. Like one of the things that I’ve learned also along the way is that every individual, they don’t really fully understand their true ability how much they can actually do and as they actually learn something and apply it, and they say, “Wait for a second, I can actually do that, wow! That’s amazing! I didn’t know. I never thought that I had that ability.” And then, you do it. And then you keep on doing it and you keep on getting better. Like would you think that like myself, now, I became an entrepreneur if you guys don’t know my story, I became an entrepreneur really about 4 years ago, you know? Give or take. I wouldn’t have dreamed about having the corporation that I have today. Today, I hired my staff number 40. It has been a viral growth in my agency. And not only that, I have rockstars. I have people that are geniuses that are working with me that I considered them smarter than me in many many different areas. So for me, I am so humbled by the fact that I work so hard and I’ve been able to gather this incredible all star team around me that are helping me accomplish my overall vision for where we want to be. That is on my agency. I help companies get to the next level. We are not really working with starting businesses or small businesses perse. We work with established companies that are investing many thousands of dollars a month in our services. We’re not particularly cheap, necessarily depends on the viewpoint. And they also are ready to invest quite a bit of money on the marketing budget. We’ve just established genius marketing funnels along the way and made them famous. That’s what we do. That’s what I did for my dad, for Dr. Berg, for all these personalities that I work with including some celebrities that I don’t even mention. That’s what I do, I help them position themselves in a way, in whatever they sell, they can actually sell a boat load of it. So, that’s basically how it works.
Guys, that was not the intention of my podcast today. But, sometimes people need motivation. I know that I needed along the way. I use a lot of motivation and my motivation is sincere, it comes from my heart. I want you guys to feel how deep in my heart I want you guys to succeed and for me it’s a big passion that you take some of my energy, bring it with you and accomplish some results yourself and see how you can take over the world. I am not thinking that I am better than you. I am just somebody that knows that I can talk to people and I have this ability to influence people and make them see a bigger future for themselves that what they are actually accomplishing because throughout the years, I have fully recognized because I have seen people grow including myself nonstop. I fully recognize that people don’t really understand their full potential. And, as they start developing abilities, they start growing and they start really seeing how much they can accomplish as a marketer, as advertisers, as business owners, as entrepreneurs in general. You can develop the skill of building the business along the way. And, today more than ever, more than anytime in history, building business is real. Why? Because you have the internet which is the greatest miracle that we’ve ever had in history for my opinion, okay? So, in reality, the internet has connected us all up in a way that none of our ancestors ever had access to. So, why not use that to monetize, to accomplish your dreams and create this effect? What does it revolve around? Knowledge! You have to understand how to use the existing channels. Basically, that’s what you have to do.
Alright. So, wow, it’s been 15 minutes. I know, usually, that’s the length of my podcast. But guys, you could probably sense my excitement and I have a lot of energy that I want to transfer over some of it to you because things, even though you’ve been made to believe that you’re late in the game, this internet world, this ecommerce world, this entrepreneur business world is basically just beginning and I want you guys to try to jump in there and keep on learning and keep on understanding how it works so you can take yourself to the next level as an owner.
So, let’s talk about something that is a very simple subject and I’ve talked about that before if you’ve listened to my previous podcast. If you haven’t, you should go back and listen to some of them because some of those podcasts are really good and I have some real good golden nuggets in it. But I want to talk about how when you do Facebook Ads which I will love to know from you guys. I know I have a lot of people listening to the podcast. Which of you guys are suffering from analysis paralysis on the subject of Facebook Ads? And which of you guys are actually doing Facebook Ads and Instagram Ads and Messenger Ads and actually running your Messenger channel? Just please let me know. I will love to get some feedback from you – m.me/theninjamarketer. Send me a message. Let me now. That goes straight to my Messenger and I read them myself and I can see some of the engagement from you guys in your end. I’m going to also give you guys a freebie today that you can download at the end of the podcast. I’m going to give you a link for you guys to go and download based on what I’m going to be talking about today which is an important thing to understand. Because the Facebook Advertising platform, the monster that it is, there’s a particular way in which it works.
The Facebook Advertising product is a product designed to basically reward you if you produce good quality content. And, if you actually work on finding an audience that is interested in your message. If you do those things, and people show interest in your brand, in what you have to communicate about, then, they lower your cost of advertising. So, basically, in short, price is an indicator, your cost of advertising is an indicator of acceptance. Meaning, the lower the cost, the more acceptance you’re getting.
For example, if you’re running a video views campaign, meaning that you want to get as many people as possible to watch your video. Then, in that particular example, you can pay ¢1 per video view or you can pay ¢10 per video view. The lower the cost is, the more people are liking your content, the better the audience is. So, when you’re running different audiences, for example, let’s say you’ve selected five different interests. I’m going after people in the kitchen niche, interested in kitchen, women, females ages 44-59 interested in the kitchen. And I select five different interests. I don’t know, let’s say Rachael Ray, Martha Stewart, I can do Bed Bath & Beyond, I can select people interested in the subject of cooking, health, etc. So, those are interests that are available in the Facebook world. You can select those audiences in case you didn’t know that. When you are selecting your audience, who do you want to show your ad to? Those are the things that you can select. You can select based on their data – data that Facebook has accumulated for years on their platform with their users, okay? So, what you can do is you can go ahead and run the same video, the same image, or the same set of images or videos and run them to five different audiences. And this is a pro tip right here.
Let me give you another pro tip. If you know how to use the Ads Manager, that’s what they call the Ad Set Level. There are campaigns which is basically where you select your objective. Ad Set which is basically where you select your audience. And Ad, which is basically where you select your creative, your videos, your images, etc. So, where do you do all these if you guys are new at Facebook? Well, you set up your Ads Manager on business.facebook.com, okay? That’s where you set it all up. That’s where Facebook wants you to run your ads on Facebook, okay?
So, at the Ad Set Level, you have an option to select different audiences and you can select as many as you want. You can test fifty audiences, different ones. And, here’s a pro tip. If you select Martha Stewart as an audience, make sure you exclude the other audiences that you are testing. Because, if you don’t exclude the other ones, something that’s called overlapping will happen. Meaning that the audiences are going to be mixed in one with the other because some people that like Martha Stewart also like Rachael Ray. So, you are going to be targeting them in both audiences, and you’re going to be competing against yourself for a spot.
I hope that it’s not over your head. I’m trying to keep it simple. If it is, you should go back to the podcast that we’ve covered and then make sure you follow me on my Facebook Page and see some more videos. And then, maybe ask me questions if you’re lost. Ask me questions and we’ll try to reach back and provide you with more details. And then, eventually, please join my course which is going to take you step by step, right? That’s something that you’re interested in taking over which I think you are. If you’re listening to me here, you’re definitely interested in being able to dominate, master, understand the most important media organization in this planet. This is by far the greatest media organization ever existed in this planet. No CNN, MBC, 98.7, Us Weekly, no communication outlet has ever had more reach and more control over an audience than Facebook. 77% of an adult population use it in the United States alone. The numbers are insane. So, I would say that it’s a smart decision for you to learn how to use it even if you’re not a Facebook user yourself like my dad. He hates using Facebook. He doesn’t use it and he’s a Facebook star himself because he knows its power, okay? So, don’t be romantic about that.
So, that was a pro tip. You can exclude one audience that you’re selecting from the other ones so they don’t overlap. So, that’s basically how you build an audience now that you can test out one video or one image with five different audiences and find out who the winner is. Now, how do you know? What is your biggest indicator to find out who your winner is? Guys, cost is your number one indicator. If you selected as a result that you’re looking for video views, then, the lower the cost, the better the audience. If you selected Lead Generation, well, the lower the cost, the better the audience. It is as simple as that. There’s a bunch of other metrics – hundreds of different metrics that you might not need to pay attention to. Some of them are important. For example, if you talk about the relevancy score, that’s an important one. Why? Because, 1 – 10 is a score, the higher the score, it means that the more acceptance the public is having over your ads. The more acceptance, the lower the cost. So, it goes back to the same subject.
Frequency – that’s another metric. That’s important. Why? Because when the frequency hits 3, 4, 5, 6, 7, it means that your same ad was shown to the same person on average, the same people about 3, 4, 5, 6, 7 times. So, there’s a bunch of other important metrics like 10-second video watchers, 25% video watchers, 75% video watchers, website clicks and countless other more metrics. But, I want you to focus on one thing at a time, okay? And, when you’re trying to find out who your winning audience is, I want you to focus on your cost per result as a first step. Meaning, how much are you paying for that result? And, if you’re testing out 10 audiences, who is your winner? Who do you need to scale? The one that was the cheapest. If you have 2 or 3 of them that are cheap, well, you run with those and you turn off the other ones and you scale in that weight based on your cost per result.
So, what do we got? Price is an indicator of the creative acceptance and also, the correct audience. If you have a very skyrocketing price, then, it means that your creative – your videos, your images, your copy – is not being well received. Also, it could also mean that your audience is way off. You are marketing a men’s beard oil to females. That’s going to be a collapse in your marketing strategy. So, you have to understand that you have to target the right people in order to go and create the effect that you’re looking to create. Okay. So, metrics that are important, the number one that you need to focus on is the cost per result. And that could be, if you’re asking for messages, that is a cost to receive a message. If you’re asking for video views, the cost for video view. If you’re asking for leads, it goes without saying, right? If you’re asking for conversions, well, what is the cost per conversion? For purchase, what is the cost per purchase? And, again guys, this is an entire world, so I want you to take it step by step. I don’t know exactly where you are at. If you are a little bit more advanced, then, you understand all these things about purchase conversions and all those things. But, I was in your shoes at some point. I got to a point in which I got good at it. But, when I began, I didn’t know anything about Facebook. Nothing. I started from scratch. I didn’t have any marketing certificates hanging on my wall. I learned with blood, sweat and tears to understand how the platform works and how to get the most out of it.
Alright, guys. So, I hope that that was a good content. We are 26 mins in now and I would love to hear from you guys. One thing that I want you to have is, you know that I’m working hard on creating valuable things for you guys so you guys can actually use them based on what I’m talking about. If you go to my website which is, I’m going to give you this direct link manuelsuarez.com/metrics. I’m also going to put it at the bottom. I’m going to give you a document. I’m going to send it to you on your email and on your Messenger that you can download, print it, whatever you want so you can look at the different metrics, what they mean and what importance do they have, and, how I recommend them, and how we used them, okay? So you get more data about that and then start getting more of an understanding about what those things really mean and how you can utilize them to increase, improve and scale your Facebook Ads results. And, if you failed many times on Facebook guys, trust me, I did that too. Facebook is not a game that you try for a couple of months and then you quit. Facebook, you’ve got to keep on trying nonstop until you actually make it. It is my belief that failure is something that one decides. It’s not something that really happens. What really does happen is people stop persisting and they give up. And you guys know if you look at every single professional, if you ask them how did they get there, how did they get to become professionals, it was hard work, a lot of dedication, a lot of mistakes along the way, trial and error and a lot of persistence along the way. Every single professional at some points of their lives, they were a beginner. They didn’t get born with those abilities. So, you grow into them and you improve and along the way you get stronger and I want you guys to keep on growing in this particular area that I can provide value to you.
Alright. So, thank you for listening. Thank you for being here. Send me a message. Again, m.me/theninjamarketer. Download the freebie at manuelsuarez.com/metrics. Alright. See you on the next podcast guys.
