April 9, 2020
The Circle of Influence and Online Ads. What it Means to YOU.

The Circle of Influence and Online Ads. What it Means to YOU.

(lively music) – Are you ready to transform your normal e-commerce business into
one that experiences exponential growth year after year using online advertising? If so, this show is for you. Me and my guest will show
you how YouTube can grow your e-commerce business to
seven, or even eight, figures. So you can go on more luxurious vacations, spoil yourself and your family, say yes to more opportunities, and become financially free, to never have to worry about money again. Welcome to the E-Commerce
Performance Marketing Show. (lively music) How’s it going, guys? Josh Marsden here. So welcome to Episode four. Now if you haven’t
checked out Episode three, with my guest, Ron Lynch, who is responsible for over two billion in advertising sales, then you definitely need
to check out that episode. Go back, check it out after this episode. Now in this episode, I’m
gonna teach you something that’s super invaluable. This is going to be an episode that’s really gonna set you up for success when it comes to running paid advertising. Now this isn’t gonna
be the sexiest episode or, you know, it’s not gonna have some sort of powerful tactic that’s gonna make you a
ton of money tomorrow. But this is gonna help
you have success long-term with your paid advertising. By learning what I’m
about to teach you here, and applying it with
discipline, with poise, in the future, you’ll be able to eliminate a lot of the mistakes
that come out of running paid advertising with
Facebook, Google, et cetera, for your e-commerce business. Now the inspiration for this episode comes from a personal story. So let me tell you. I am a fifth grade basketball coach for my son’s basketball team. And we’re talking about 10, 11, year olds. And fairly recently, I coached
a game and during this game, the boys were basically
just beating themselves. They were losing the game
because of their own behaviors. They didn’t have the right mindset, they were basically blaming the other team for their physicality, they were blaming the other
team for talking trash, they were blaming the ref, and they were just
complaining left and right. And they were basically just, like I said, beating themselves. They were their own worst enemy. And that’s the inspiration
for this episode. I sat down with the boys and, this was like early in the second half, and I said to them: Hey, listen guys, you guys are beating yourself right now. You’re your own worst enemy out there. You need to knock off
blaming the other team or blaming the refs, and
focus on your activity, focus on your hustle. Focus on doing the right things. Passing the ball, moving the
ball, taking smart shots. Working together as a team on defense. Hustling, shuffling your feet. The inputs basically. The activities that lead to
the outcome that you want and don’t worry about what anything else is doing around you. Just focus on your own activities. And we were able to turn
the second half around, and actually have a win, just barely. We won by like two points. But the bottom line is, we won. And we won because of the fact that we displayed the right activities, we focused on the circle of influence. And that’s the lesson
I’m gonna give you today because this lesson, if you really get what I’m trying to teach
you in this lesson, it’s gonna help you out
tremendously long-term when it comes to getting the best results from your paid advertising, whether you’re e-commerce business owner running your own ads, or whether you’re a marketer
for an e-commerce company, running your own ads, okay. So that’s the inspiration
behind today’s episode. So when it comes to running advertising, there is a lot of factors
that dictate success, but if you focus on your inputs that you have influence over, hence the circle of influence, those are the inputs and the activities that are gonna help you
get the best results if you are really
laser-focused on those inputs, and you’re disciplined about it, and you don’t worry about anything that’s outside of your
circle of influence. So time and time again, I see e-commerce business
owners and marketers, you know, focusing on policies, and blaming policies for
their ads not working. Hence the reason why you
see policies over here. I also hear a lot of e-commerce business owners and marketers complaining about the algorithm: The algorithm sucks! I’m not getting the results because Facebook’s
changed their algorithm. I had results a year ago, now I don’t have results. Competition. You know, also focusing on
competition in the market. I hear people complaining: Oh there’s more competition in the market. That’s why our paid
advertising isn’t working, isn’t effective; I’m
not able to get profit, I’m not able to scale. Or platform maturity. This has to do with Facebook. As the Facebook advertising platform becomes more and more mature, they’re also increasing
their cost per click, getting up to Google type levels. They’re not quite there yet, but that’s something that’s
completely outside your control, that you have no influence over. Same with advertising costs. That kind of plays into that as well. And then finally, seasons. Now seasons has to do with, well, let’s just say the holiday
season, for example. The holiday season is super competitive. And you don’t have influence over who’s advertising, obviously. You only have influence
over your own advertising. And the runway to that, in your strategy and your
process, things like that. And so that’s why seasons is completely outside of
your circle of influence. You know, there’s nothing
you can do about that. Then finally, Facebook’s
support over here. So Facebook’s support isn’t great, I know. I’ve dealt with it, it stinks. (chuckling) I hate to say it, Facebook. Mark, you might wanna fix that. But Facebook support sucks. And you can’t really focus on that, you can’t use that as an excuse, you can’t blame Facebook support. Again, you focus on your inputs to get the result that you want
with your paid advertising. And so you’ve got all these
different inputs right here. You’ve got plenty of inputs
that can get you the result. Let’s go do them together. All right, so the first one you have here, is you have the ad creative. Okay, you are in control
of the ad creative, the copy, the graphics,
the images, the video. You are in control over that, okay. Targeting. Targeting, you’re in control over as well. Research, you know,
should go into targeting. Testing, should also be
a part of your process when it comes to getting
the best possible results from your paid advertising, whether it’s Facebook or Google or any other platform for that matter. That’s why we have testing and inputs in the circle of influence here. You also have tech implementation. You know, being able to use the Facebook Ads Manager platform, being able to use the
Google Ads Manager platform. Tech implementation is something
you have influence over. And if you get better and better at it, then you are gonna be able to
get better and better results because you’re more well-versed
in how the platform works. Besides that, you also have
all these other influences such as, you know, management,
day-to-day management, doing reporting on a consistent basis, turning ads off that aren’t
working, turning ads on, and scaling them further when
they’re working very well. You also have a strategy, obviously. Strategy is huge, as you can imagine. And strategy when it
comes to your advertising, when it comes to your follow-up, when it comes to your
monetization of your ad campaigns, and the traffic you’re paying for. That all has to do with
strategy and that’s huge. And that’s why it’s in, again,
the circle of influence. Offers, you know you
have control over that. You dictate, you know, your offer, you really come up with
the high perceived value, you include the value into the offer, you build up the offer with bonuses. You know, you have control over the offer, plus, you know, market
research also has to do with coming up with the right
offer to make to your market, when you’re using ads
and you’re moving people through a funnel; that’s
huge, as you can imagine. So I’ve kind of purposely
centralized the inputs that have the biggest
influence on the result that you get from your
paid advertising campaigns. The nucleus here, the center, is really what I want you to focus on. So in the first episode of the E-Commerce Performance Marketing Show, I really talked about
customer lifetime value being the number one
metric to really focus on, to get the best possible results from your paid advertising campaigns. And that’s why it’s dead center. Because if you are 100%
focused on maximizing the profit and the ROI that you’re getting from every click, every
lead, and every customer, then you’ll be able to really
get the best possible ROI from your paid advertising, okay. That’s why it’s number one. Now funnel, your funnel is
more than just like one funnel. But one funnel when it
comes to acquisition, you know that is something
that you wanna have a lot of influence over to
get the best possible result from your paid traffic when
it comes to conversion, when it comes to average order value. Which is why I have average
order value right here. When it comes to upsells, downsells, which all play into average order value, which also play into your immediate ROI from your paid advertising, so this way, you don’t got
too much into the negative when it comes to acquiring your customer. If anything, you wanna acquire a customer at a positive ROI and
then make even more money on the backend by focusing
on customer lifetime value. And then you also have KPIs. So key performance indicators. So in every business, you can calculate what you can afford to spend
on acquiring a customer, and you can, you know, budget
out what it’s gonna take to get the number of customers you want in a given period of time, based off of the numbers in your business, and based off of your average order value that you’re getting to acquire a customer, based off of your customer lifetime value, at 90 days, 180 days or more. You know, there’s
different things you can do that will help you run online
advertising effectively, but you have to know your KPIs. That’s why it’s so important and it’s also part of
the circle of influence in this episode that I’m teaching you. And then finally, like I
mentioned before, testing. Testing is huge. Now testing beyond just ads. Obviously that’s important, testing different audiences, different optimization
options on the campaign level, testing different ad creatives, whether it’s the headline,
whether it’s the lead-in, whether it’s the body,
the copy of the ad itself, whether it’s graphics,
whether it’s images, whether it’s videos, you name it. Obviously, you know, testing is huge, but then testing also with your funnel. Your funnel is responsible
for more success than your actual ad creative
itself, in my opinion, because the funnel is where
all the action happens. That’s where people convert into leads, that’s where people
convert into customers, that’s where you make offers,
upsells and downsells, to be able to really
maximize that immediate ROI. The funnel’s huge, and that’s
why testing is so important. So the bottom line is,
you need to focus on the activities and the
behaviors and the disciplines that will lead to the
results that you want with your paid advertising campaigns, and focus only on that. Don’t worry about the stuff outside of your circle of influence. This stuff is not within your influence. It’s not within your control. But this stuff right here, it is. And so when you’re running
paid advertising campaigns, whether again you’re an
e-commerce business owner or whether you’re a marketer and you’re running paid advertising for your e-commerce business, don’t worry about anything
that’s not within your control. Have the right mindset. Be poised and be disciplined, and focus on these specific activities, and these specific attributes, characteristics, methods, you name it, to be able to get the best possible result from your paid advertising campaigns. So that’s what I wanna
leave you with today, when it comes to Episode four of E-Commerce Performance Marketing Show, is getting the right mindset and focusing on your circle of influence. (lively music) Thank you for tuning into the E-Commerce Performance Marketing Show. If you enjoy this episode, be sure to subscribe, like, and comment with a timestamp of your
favorite marketing show. Until our next episode, here’s to the success of your e-commerce. (lively music)

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