WEBVTT 00:00.210 --> 00:08.790 So many students have been asking me to show more about how I refine my bidding strategies on ads and 00:08.790 --> 00:12.420 how I find the optimal ads and price and all that. 00:12.420 --> 00:20.370 So I'm going to use a video that I just released recently, and it's this kind of Shakespeare song video, 00:20.370 --> 00:25.350 and I already released a Shakespeare song before and it was more produced like it had a lot of instruments. 00:25.350 --> 00:28.020 This is more like the Acoustic Unplugged version. 00:28.020 --> 00:30.810 So it's basically just more of something that I already had released. 00:30.810 --> 00:33.270 And this is kind of like first few days of this video. 00:33.270 --> 00:38.220 And you can see this is the analytics page of this video, and you see it only has 148 views. 00:38.220 --> 00:42.480 And you can also see that most of the views are coming from YouTube advertising. 00:42.480 --> 00:42.990 Right? 00:42.990 --> 00:48.620 So I'm just starting to run ads for this for two reasons. 00:48.630 --> 00:51.480 One is I want to build a little bit of social proof. 00:51.480 --> 00:57.090 I want to get like a few hundred views just so that new people, when they come across this song, they 00:57.090 --> 01:00.630 don't think like, Oh, it's unpopular and nobody listens to it. 01:00.630 --> 01:06.090 And by the same token, I could try to get like into the thousands of views because that shows a little 01:06.090 --> 01:07.770 bit better social proof. 01:07.770 --> 01:13.380 So that's one reason it's faster for me to do that by spending a little bit of money, then by promoting 01:13.380 --> 01:16.950 on social media a lot, just because it saves me time, right? 01:16.950 --> 01:21.690 If you don't have a big budget, you can just promote on social media a lot and get that social proof. 01:21.690 --> 01:25.380 So it's not necessary to run ads for your social proof. 01:25.470 --> 01:27.210 It's just something I select to do. 01:27.390 --> 01:33.300 But what I actually also want to and hope to do, it's not always possible, but what I hope to do is 01:33.300 --> 01:35.640 find my ideal audience. 01:35.640 --> 01:42.090 Because you've seen before in the videos previously that I've shown that you can find audiences that 01:42.090 --> 01:46.290 are not ideal audiences for you, but you can get views for like pennies per view. 01:46.560 --> 01:47.790 And that's not hard. 01:47.790 --> 01:51.450 It's just that you get like perhaps some of the worst audiences, right? 01:51.450 --> 01:55.410 People who don't actually care about your videos or if you're selling something, people who might not 01:55.410 --> 01:55.980 buy. 01:55.980 --> 02:05.790 So let's look at my advertising dashboard and see how I approach the bidding and targeting for finding 02:05.790 --> 02:10.050 the right people, the right audiences who would be ideal for this video. 02:10.200 --> 02:17.670 So I have to add that I set up this is one ad like I'm bidding $0.17 and it's getting no views today, 02:17.670 --> 02:18.840 which is not so good. 02:18.840 --> 02:19.290 Right. 02:19.290 --> 02:24.180 And then the other ad is bidding lower, but is actually getting some views right. 02:24.540 --> 02:28.350 And you see the average view is actually below my bid. 02:28.680 --> 02:36.000 And you also see that this has a pretty reasonable view rate, almost 1.7% as opposed to the other. 02:36.000 --> 02:43.740 Ad even if I go and expand over many more days like the last seven days, it has a far lower view rate 02:43.740 --> 02:44.670 like 1%. 02:45.210 --> 02:50.490 So the first thing you want to do when you're on an ad is check out, well, is it attractive? 02:50.490 --> 02:52.980 So let's say you get a view rate of some percent. 02:53.700 --> 02:54.270 Okay. 02:54.270 --> 02:57.720 And then you look at your ads and extensions and ads. 02:58.440 --> 03:00.030 Okay, How does it appear? 03:00.030 --> 03:02.490 Original Love Song with Shakespeare lyrics. 03:02.490 --> 03:05.070 That headline is getting more views. 03:05.070 --> 03:08.100 You see almost double the percentage. 03:08.100 --> 03:14.340 Then the headline of the other video that we're comparing, You see in the other video we're comparing, 03:14.340 --> 03:18.870 if I click on ads, it says Love Song with Shakespeare lyrics. 03:19.050 --> 03:24.000 That seems to be getting a lot fewer click through, less interest. 03:24.000 --> 03:29.310 And you can also look at the subtitle New Original Love Song using a few lines from Shakespeare. 03:29.310 --> 03:29.640 Maybe. 03:29.640 --> 03:32.430 Phew is weak here also. 03:32.430 --> 03:32.940 Right? 03:32.940 --> 03:38.100 And you can just look at that, see if you can catch which lines are Shakespeare. 03:38.130 --> 03:40.500 Okay, that's more interesting, right? 03:40.500 --> 03:41.970 It's a little bit of a challenge. 03:42.450 --> 03:43.650 That's the subtitle. 03:43.650 --> 03:44.670 It's less important. 03:44.670 --> 03:46.500 The title of the ad is more important. 03:46.500 --> 03:48.990 As you can see, the actual picture is the same. 03:49.320 --> 03:55.380 So it says Original Love Song with Shakespeare lyrics as opposed to love song with Shakespeare lyrics. 03:55.380 --> 04:00.090 The only thing I change is original, and that seemed to have caused a big difference. 04:00.360 --> 04:07.350 And this is the first thing you want to explore because you see on this less popular ad, you see if 04:07.350 --> 04:10.650 I go to the overview of it, it's getting some impressions. 04:10.680 --> 04:13.050 It's just people aren't clicking through, right? 04:13.050 --> 04:19.680 So it doesn't matter if I improve this Max bid, if people aren't clicking through, if they're not 04:19.680 --> 04:23.310 interested, YouTube is going to show it to fewer and fewer audiences. 04:23.310 --> 04:23.730 Right? 04:23.730 --> 04:29.700 So that's the first thing is you want to make the ad attractive after you've more or less made it attractive. 04:29.700 --> 04:31.290 And we'll look at the other one. 04:31.290 --> 04:35.070 This is the worst performing one, so we'll look at the better performing one. 04:35.310 --> 04:42.570 What I did with this one was I simply started at around $0.05 or something like that, and it wasn't 04:42.570 --> 04:44.490 getting any bids. 04:44.490 --> 04:47.100 Like literally the CPV was like $0.05. 04:47.100 --> 04:49.080 I left it on for like half a day. 04:49.080 --> 04:54.630 I left it as a tab in my browser and for half a day it wasn't getting like any views, nothing. 04:54.630 --> 04:56.700 So I raised it to $0.07. 04:56.700 --> 04:58.110 Then it wasn't getting anything. 04:58.110 --> 04:59.130 Then I raised it to. 04:59.450 --> 04:59.930 $0.08. 04:59.960 --> 05:00.820 $0.09. 05:00.830 --> 05:03.230 And I gave it like half a day each time. 05:03.350 --> 05:08.990 Because half a day it's enough to see if YouTube is going to start showing this to people. 05:08.990 --> 05:14.660 And then as it started getting to like 12, 13, 14, I started seeing some views. 05:14.840 --> 05:20.150 Now this has a $10 per day right now max budget, as you can see here. 05:20.300 --> 05:22.190 So it doesn't seem like it's going to get there. 05:22.190 --> 05:30.170 So I can probably raise this bit a little more just so it maxes out that $10 per day. 05:30.170 --> 05:34.490 But really, this is sort of like the beginning of things, right? 05:34.760 --> 05:40.940 What we really want to do is find what's the ideal price to reach the ideal audience. 05:40.940 --> 05:48.020 And we don't yet know what the ideal audience in terms of having your answer backed by data, We only 05:48.020 --> 05:49.640 have my assumption. 05:49.730 --> 05:57.080 So what I'm doing actually, if I go to more details here, you will see that I have some people that 05:57.080 --> 05:58.610 I chose to show this to, right? 05:58.610 --> 06:04.220 I have some audiences like this here that I chose, like folk and traditional music, indie artist, 06:04.220 --> 06:06.020 alternative rock fans and so on. 06:06.350 --> 06:10.370 I can add and remove these, which I will plan to do in the future. 06:10.370 --> 06:16.400 And I also see right now only targeting female because it's kind of a love song and I'm trying to see 06:16.520 --> 06:20.840 do men versus women respond better or worse? 06:21.140 --> 06:25.070 I'm also trying to experiment with like household incomes, right? 06:25.220 --> 06:26.990 Because it's kind of about Shakespeare. 06:26.990 --> 06:28.490 It's an acquired taste. 06:28.940 --> 06:34.130 Also, I excluded some people who are younger, and I'm going to keep switching this, but in other 06:34.130 --> 06:38.660 ads, I'm going to show this more to people who are younger and in other ads, I'm going to take out 06:38.660 --> 06:44.180 women and ad men, and then I'm going to compare the watch times during those periods. 06:44.180 --> 06:44.660 Right. 06:45.170 --> 06:51.620 Like if I go back to the ad that I showed you basically here, these are all views essentially by mostly 06:51.620 --> 06:52.100 women. 06:52.100 --> 06:55.010 So I can tell that likes versus dislikes. 06:55.010 --> 06:56.900 I can tell the watch time. 06:57.290 --> 07:03.170 And let's say I have the same audience, but then I switch from men to women and I'll see our men watching 07:03.170 --> 07:03.560 longer. 07:03.560 --> 07:04.790 Are they watching shorter? 07:04.850 --> 07:09.590 And I'll do this for every demographic, essentially, and then compare. 07:09.590 --> 07:15.590 And then eventually I'll leave my assumptions and I'll be like, Oh, I had no idea. 07:15.590 --> 07:16.610 I was surprised. 07:16.910 --> 07:21.920 Young people turned out to love this song about Shakespeare, but older people that I thought maybe 07:21.920 --> 07:23.150 they would like Shakespeare more. 07:23.450 --> 07:24.440 That was my assumption. 07:24.440 --> 07:27.590 But maybe it will turn out that that's not true. 07:27.590 --> 07:31.220 And I cannot know this until I run these tests. 07:31.220 --> 07:36.410 There's just no way to know other than assuming and this will take a little bit of time and it will 07:36.410 --> 07:37.340 cost some money. 07:37.340 --> 07:44.390 But when I find my ideal, ideal, ideal audience, not only will I also be able to run Facebook ads, 07:44.390 --> 07:46.640 Instagram ads to exactly that audience. 07:46.640 --> 07:51.710 So this will be global and I'll be able to use these demographics long term for this video and to find 07:51.710 --> 07:55.520 not just for this video, but for my entire type of music that I create. 07:55.520 --> 07:56.120 Right? 07:56.120 --> 08:01.850 Then what's going to happen is I'll sort of find my fan base, which is amazing. 08:01.850 --> 08:09.770 But also I'll be able to show YouTube, Hey, people are watching this and they're showing really good 08:09.770 --> 08:11.270 engagement signals. 08:11.570 --> 08:12.650 They like it. 08:12.650 --> 08:17.690 Promote these videos to them in the recommendations because they're going to be more likely to watch 08:17.690 --> 08:18.080 it. 08:18.170 --> 08:25.610 And that will be the catalyst to actually growing my YouTube channel organically because I'll find the 08:25.610 --> 08:32.540 most engaged audience segments and demographics that are possible and interest groups and through winning 08:32.540 --> 08:38.660 in that niche and getting recommended organically in that niche, my videos will truly grow. 08:38.660 --> 08:44.390 That's the key not only to finding the ideal bid, but also to finding the ideal audience. 08:44.390 --> 08:53.840 And also not only that, but really to having your ads really help you find your base of superfans, 08:53.840 --> 08:59.840 which will be the catalyst to growing your channel instead of randomly promoting based on assumptions. 08:59.840 --> 09:01.820 Now you'll have a data driven approach.