033 - The Journey from Corporate Employee to Sought After Facebook and Instagram Ad Strategist with Monica Louie

CONNECT WITH MONICA

Monica Louie is a Facebook and Instagram Ads strategist and helps ambitious online entrepreneurs increase their impact with high-converting ads. Facebook and Instagram Ads wasn’t where Monica first started though. Monica made the switch from corporate employee in financial services to entrepreneur because of her desire to spend more time with her kids while making money so that she could continue to contribute to the family income. 

We talk about her journey from corporate employee, to personal finance blogger and finally to what she does with passion today. Along the way, she and her husband also paid off $120,000 of debt in 2 short years on a single, middle-class income!

Monica’ story is inspiring on so many levels that I could relate with as I’m sure you will too. 

Key Takeaways from this episode:

  • The steps towards reaching your dreams and desires aren't always all laid out in front of you before you take the first step. It’s the twists, turns, detours, backtracks that are the necessary steps to take towards them. Keep trying and have faith it will work out.
  • It’s possible to be a sought after expert in a space where you could be a beginner in now. Monica never saw herself as a Facebook & Instagram Ad expert back when she was thinking about starting her own business. It was paying attention to the feedback from other people she was getting and the results she was seeing that led her there.
  • Don’t be afraid to put yourself out there to tell people what you do and how you help.
  • How Facebook Ads can help you grow your business and the common questions Monica gets about Facebook Ads.
  • And so much more!

Listen to the episode to hear more about Monica’s story!

RESOURCES

  • Learn more about Monica’s online training program, Flourish with Facebook Ads.  
  • Download Monica’s free Facebook Ads Starter Kit here.
  • Listen to Monica’s coaching call with Michelle Vroom that we mentioned in the episode here.
  • Connect with Monica on Instagram @flourishwithmonica.

Transcript

Sharon: (00:04)
Hi and welcome to The Financially Free Woman Podcast! I’m Sharon and I’m the creator of this non-financial, financial podcast about money and how money affects the work you do, the relationships you have and your ideas about freedom. This podcast is all about discovering who you really are and what you’re meant to be doing with your talents. This, to me, is your path to financial freedom - where you get to spend time doing what you love, get paid for it, and make a difference in the world. In this podcast, I also interview women who are doing exactly that - making a living with their passions, because you CAN have passion and profit. I do this in the hope that it inspires you to take the steps to turn your passions into profit. Thank you for joining me on this exciting journey. Let’s get started!

Sharon: (01:09)
Hi everyone. And welcome to another episode of the financially free women podcast. I'm really excited to be introducing today's guest, who is Monica Louie. So Monica is a Facebook and Instagram at strategist who helps ambitious online entrepreneurs increase their impact with high converting ads. And you may have heard about Monica on the smart, passive income podcast. The boss mom podcast, the art of online business podcast, or her own podcast called flourish to seven figures. Along with a premium agency team flourish, Louie managers ads dour, six, seven, and eight figure online business owners and has managed more than $3 million in ads spend and has taught over 1000 students to successfully run their own ads through her online training program, flourish with Facebook ads. So I'm really excited to be talking to Monica and talking a little bit more about her story. So I'm going to let Monica start by telling us a little bit more about how she ended up doing what she's doing now and what that journey has been like for her. So Monica, if you could just introduce yourself and tell us a little bit more about your journey from how you started and to where you are now.

Monica: (02:28)
Sure. Yeah. Well, first of all, thank you so much for having me I'm super excited to be here. And so yeah, my journey started off like the typical go to college, get a good job journey. That was the, that was the path that I was on. And so I started with a corporate career in financial services. I always had an interest in retirement plans. And so I worked in the retirement plan administration department and I was an analyst. And so just starting in the corporate career, had good benefits, good, good pay, decent pay, and saw that there was a path up in the corporate world that there was a lot of promotions happening within a lot of different levels in that corporate career.

Monica: (03:07)
And so I, my goal was just to get really good at one thing and move up the corporate ladder and one day retire and along the way have a family. So that was, that was my big goal in life. But as I was in that position at that company, and I ended up getting married and my husband and I started planning for our kids, I realized that I wanted to have more control over my schedule. And I looked at my boss and her boss, and I looked up on the chain of this path that I thought I was on. And I just realized that I didn't really want their lives. It seemed like they were working all the time, evenings, weekends. I was getting emails at all hours of the day, and I just wanted to be around for my kids, especially while they're young and little.

Monica: (03:53)
And I wanted to just have more flexibility over my schedule. And I realized that there were people out there. I didn't know them personally, but I knew that there had to be people out there who were doing something that they were really excited about making good money, doing it and having control over their schedule. And so that's when I started to have learned more about entrepreneurship and how that might fit into my life. But when I ended up leaving my corporate job to stay home with my young kids, I didn't know what I could do as far as building my own business, but that was the goal to figure out a way that I could make money from home on my own schedule when my kids were little, you know, devote part-time to it and then grow it as they got bigger. And that's exactly what I ended up doing. And there was some pivots along the way, but it, well here we are a few years off the road and my son's about to turn 10. My daughter is seven and I look back and I am thankful that I had that faith in myself. And also my husband had the faith in me and supported me with that goal and that dream to figure out another way to contribute financially to our family, but also dive deeper into something that I was more passionate and excited about.

Sharon: (05:03)
And I love getting into the details. And you've said a couple of things there. I just wanted to ask a few more questions on, which is, how did you actually make that transition? Did you actually, because from what I heard, it sounded like you made a decision and then you decided to switch from the corporate job to staying at home and doing your business part-time. What was that transition like? Because I think sometimes people have the idea that you would just, you could just switch like that and you would know exactly what to do. For me, I'm kind of making it in a gradual transition just because I'm kind of like the one who brings in the regular income and my husband's self-employed. So he's got that kind of like cyclical income and we have the usual mortgages and loans and kids were going to school and all of that. So how did you make that transition?

Monica: (05:52)
Yeah, so it was not just like I jumped ship right away and that the end, my husband and I started talking about it. When I was pregnant with my son, I saw my friends starting to leave their jobs, to stay home. My friends from college, that we had all had this dream of getting our degrees and having this great career and different fields, but, and then having a family someday, and I saw them all leaving their jobs to stay home with their kids. And I realized that I wanted that, but as I kind of got more into it, it's like I wanted the flexibility. I also wanted to be a career woman, but on my own terms and not dictated by somebody else. And so I wanted to figure out how that balance would work best for me and my family.

Monica: (06:32)
So we started talking about it and we looked at our numbers and we were comfortable with two incomes. We had car loan, we had our student loans, we had a mortgage, we had kind of typical expenses. And so I started to figure out, well, how can we make this work? So I ended up working at my corporate job part-time for a year. So I started that when my baby, when my son was a baby. And then that year ended right around the time I found out I was pregnant with my daughter. And so in when that contract was up, they said that I needed to be a contractor instead of an employee in order to do that. And so when that year was up, my husband and I looked at our numbers, he had gotten a promotion and we thought, okay, we've paid off the car.

Monica: (07:14)
We built up some savings along the way. We think that we can make this work. And so I ended up leaving at that point. And my goal was to figure out at some point, I mean, I was pregnant at the time. And so I knew it was going to have a newborn be busy with that soon. And so my goal was within a year or so to figure out what I could do to make money from home after she was born. And that's when actually a couple of months in, we realized that we needed to be more intentional with our money, that we had gotten a good start with paying off the car and saving up money. But we saw that our savings was starting to dip a little bit, and we knew that that was the wrong direction. And I didn't want my desire to be home with my kids to cause financial stress and strain on our family.

Monica: (07:56)
So that's when I dove into personal finance. And we decided that if we knocked out all the debt, not just the car loan, but everything that we would feel much more secure financially. And then if something did end up happening with my husband's job while I was building my business, we would just feel a lot less vulnerable. So in two years we paid off $120,000 of debt, all on a single middle-class income. I wasn't yet making money from my business. And during that time we did it on just my husband's income and then some hustle, we were selling things left and right. He was working overtime anytime there was the opportunity for overtime. And so we really, I was managing all the numbers and, and trying to limit our expenses. And so we were really dedicated to the school and we ended up selling a car, selling his motorcycle.

Monica: (08:41)
That was his idea, by the way, um, we made some sacrifices and then we ended up downsizing our house too. So we had, we had hustled and paid off 90,000, and then we decided that our house was bigger than what we needed for our family. At the time we bought it at the low end of the market. And so the value had increased. And so we were able to make a nice profit by downsizing into a smaller house that was better suited for our family at the time. And so that helps you pay off the additional 30,000 to get us to 120,000 and be able to put, uh, several thousand in savings as well. So then after that, then that's when I really kind of launched my online business and that kind of took off to help support us financially as well. So it definitely was a winding path to get here.

Sharon: (09:26)
Yeah. And, you know, you talked about how you originally started off. I think it was logging in the personal finance space and that's also kind of like my passion and that's how I kind of started. I started out blogging as well and talking really about personal finance, just because how I thought about getting started into entrepreneurship. I mean, I've always known that I wanted to be my own boss. I'm very similar to what you're saying, because very often as moms, I think sometimes we feel like it's like the job or the kids, and there's always this tension. And I just didn't believe in that. And I just wanted to create something that I could have both. And the flexibility is really the flexibility that I really wanted, that wasn't coming from a job. And I started off also in personal finance because of the whole story with my husband and I, the business debt and all of that. And that's why it kind of, when I heard your story, it's like, oh my gosh, she started in personal finance too. And how did you go from personal finance to what you're doing now? Because it seems like such a different area.

Monica: (10:26)
Yeah. So, yeah. So because of our story and I was trying to figure out what I could do from home, I was learning about blogging. I was following people like Michael Hyatt, Pat Flynn, and I was learning about blogging is a great way to share your message. And I didn't consider myself a writer, but Michael Hyatt convinced me that you don't have to be a writer. You just got to start blogging and you'll get better as you go. So I was like, okay. And people started asking us how we were doing this, especially my husband's coworkers, because they knew I had left my job.

Monica: (10:52)
And then we started paying off massive amounts of debt. And they were like, the numbers don't add up. You make about the same amount as we do. How is this possible? And so then I was like, okay, I can start a blog and help other people realize it is possible. If you're just more intentional with your money, you can have a plan, you have a goal. And so I started to share our journey with my blog, called our, your family, sharing our journey and getting out of debt. And then I dove into learning all about online business from Pat Flynn, Amy Porterfield, and through Amy Porterfield is how I learned about the amazingness of Facebook ads. And so I knew I had an important message that I wanted to get out to the world, but I had relatively low traffic to my blog. And I, I knew that I had a system of getting out of debt that I had done, not only for myself, but I had started working with clients here and there helping them implement the step-by-step process to get out of debt.

Monica: (11:44)
And so I ended up deciding to invest a little bit of money in Facebook ads. Amy had convinced me that using Facebook ads is a great way to reach my audience on Facebook. That's where they're hanging out and they want to learn this stuff and you can get in front of the right people through your targeting. So I followed what she taught me step-by-step to the letter. And I ended up using Facebook ads to promote a few different webinars that I did and had really great success with my ads and getting all these people that wanted to learn how to get out of debt on my webinars. And so, as I was kind of growing my blog and the personal finance space, I started networking with other financial bloggers in the online space and Facebook groups. And when I used Facebook ads for myself then, and had good results, people started to drop my name as somebody who could help with Facebook ads and Facebook ads was just starting to be of interest to people in the financial blogging space at the time as a way to grow with their traffic and get in front of the right people.

Monica: (12:40)
And so it was kind of just like right place and right time where I had good results with myself, with my own ads. People started to hear about that, drop my name. So then I started to be tagged as somebody who could answer questions. And then one by one people started reaching out from me to help them with their Facebook ads. And at first I was hesitant. I was like, well, I I'm no expert. I just know what worked for me. I did what I was supposed to do and it worked. And so I was just very upfront with my lack of experience at the time. And, but somebody wanted to work with me. They were like, well, that's okay. I want to work with you. And we had great results. And then somebody else reached out. We had even better results. She else reached out.

Monica: (13:17)
We had even better results. And so by the end of 2016, I realized that I was having so much fun working with clients with Facebook ads, we were getting great results. And I just loved what I was doing. We're working with other entrepreneurs. So I ended up selling my blog and diving full force. I was like, okay, I love working with other entrepreneurs. And I know I need to niche. And so I guess Facebook ads and the personal finance space is my niche. And my business just grew organically in that first year from my network in the personal finance space. I didn't even launch my website until June of 2017, but I had a full roster of clients through those first six months of 2017. And then I created my course. And then later I launched my podcast and grew my agency. And here we are. So it was definitely kind of a step-by-step organic progression at first. And now it's been really fun being intentional about growing the agency, helping my students in the course and having my own podcast too these past couple of years.

Sharon: (14:16)
Yeah. Did you ever imagine that you'd be in Facebook ads at the time when you were in personal finance?

Monica: (14:22)
No, I did not. I did not. I knew I was intrigued because I, I loved hearing from Amy Porterfield talk about them on her podcast and, and I was intrigued, but I never thought that I could call myself a Facebook ads expert or that I would know enough. I know that there, you know, I knew there were a lot of things I didn't know, especially as I was starting out, but because I, my clients were in this specific niche in the personal finance space, I learned what worked really well in that space. And then that helped me to build my confidence with teaching Facebook ads and helping other people. And then eventually as I got more experience with different offers under my belt then, and growing my team, we were able to expand to other niches. So now our, our clients are all online businesses with digital products. We have some still in the personal finance space, but we've brought into other industries as well, but we're still niched in the online space with digital products. That's what we know well,

Sharon: (15:14)
Yeah. And you guys, if I'm going to put a link to the episode that you did with Michelle Vroom, because just listening to you and how you coach Michelle through what she was trying to do with her Facebook ads, you can tell that Monica really, really loves what she's doing. Well, she really knows what she's doing because I was listening to in the car. And I know you were talking about things on the screen. I was trying to visualize it, but you know exactly where to point Michelle to look at, to then identify what exactly was the problem? Was it the click or was it the landing page and all of that. So listening you to talk, although I couldn't really follow a hundred percent to what you're saying, but I can kind of like feel your energy and the deep passion you have in what you're doing with the Facebook ads. And I'm just curious to hear, because I mean, I've just started out in Facebook ads and that's how I kind of found you right through Pat Flynn's podcast. Cause I was just looking at okay, who can help me with Facebook ads and it's pretty intimidating for me. And I don't even understand. I keep seeing these popups about the iOS thing now, and I don't even understand, oh my gosh, should I be going in now?

Sharon: (16:19)
Should I not? What should I be doing? And I, I also took Amy Porterfield's course and I've just started my very first Facebook ad going through what she taught and your kit as well, which again, of course, we'll put the links. What would you tell someone like me maybe who is maybe just a bit intimidated, because what I liked about your story is that sometimes we hear people say that, you know, start in an area that you have experienced and credibility and you know what you're talking about and all of that, but you've kind of debunked, all of that. Right? And you went in, you were very open that I don't know that much. And then you grew over time and now you're the expert. And I mean, when I listened to you, I, I feel like safe and confident, trusting what you're doing, because it's so clear that you know exactly where to click, you know, where to look at, okay. What these numbers mean, what it should be. So what advice would you have for someone who is a little bit hesitant about Facebook ads, intimidated, maybe even where did they,

Monica: (17:22)
yeah. Yeah. So, I mean, that's exactly how I felt when I first started with Facebook ads, because this is when I ran my first campaign. It was, we were still getting out of debt. I wasn't yet making money with my blog. And so it was, it was like I had invested in my business and I was hesitant to spend even more money on my business that was yet to really prove itself. And so I was super nervous to be in spending. I think I spent 300 or so dollars, maybe even a little bit less than that in my first campaign. And I was just very nervous because I didn't want to be throwing it away.

Monica: (17:58)
But I, as I said, I knew I had an important message to share. I knew I could help people. And I knew that my people were out there on Facebook. And now these days, I mean, we can do Facebook. Yeah. And Instagram, and many of our audiences are on Instagram as well. So we have both platforms we can tap into with the same Facebook ads manager. But I just, I had faith. I believed Amy and I, I had faith that if I was a good student and I could do what she said and have success with my campaigns and that's what ended up happening. So I was super intimidated. And well, you gotta do, you gotta, you gotta understand that you may not hit it out of the park. The first time with our clients still to this day, we start a campaign and some ads work great.

Monica: (18:39)
Some don't. And with all of our experience, you never know what's going to happen until you get it live. And so you've got to just understand that there will be those times when it doesn't work, but take it as a learning experience. You're still getting data. You're getting feedback. You're being informed as to what resonates or what doesn't resonate with your audience. And so the way that I teach Facebook ads is just very systematically. We've got our offer, we've got our audiences, we've got our ads. And so those are the three pieces that need to come together in order to have success with our ads in order to get the results that we're looking for with our campaigns. And so if something's not working right, and it's just one of those three things. And so we just got to figure out, maybe it's a couple of them, but we've got to do a little tweaking and figure out what is not right about this.

Monica: (19:22)
If we're sure that our offer resonates with people, we know that it's not fit to lead, right. People have been coming to our site and downloading it, opting in for it. And so we're getting good feedback from them. Okay. Then it's probably not the offer. We already have kind of vetted that. And so it may just be the audiences. You're not getting your ads in front of the right audiences, or maybe you're just at your ads, just aren't speaking to people in the right way. And you need to reposition there or test another creative. So much of getting traction on Facebook and Instagram are the visuals that we have in our ads. So it may just be testing this image versus that image, or maybe testing a video to see if that resonates better. And you've got to make sure that you're catching attention, right?

Monica: (19:59)
People are going through the scroll. And so you've got to stop this girl in order for them to pay attention, to see what you're all about. So really it's just a few different things if something's not working. And so it's not, I, I love when people are, they want to be strategic about it, but they also, you gotta be prepared that it may not work the first time, but that doesn't mean it's not working. It just means that you're learning. And as long as you stick with it, you're going to get better and better and better. And like Michelle, like who was on my podcast, one of my VIP's, she's been consistent with her Facebook ad strategy and she's getting great results and she's learning, she doesn't always put an ad out that works right away, but we'll, she'll come, she'll ask for feedback about it.

Monica: (20:40)
We'll give her some feedback, other things to test, just like we did on that, on that podcast episode. And then she'll implement and not everything that we suggest will work, but something will resonate. And so it's just consistently learning. And that's how it is with all of our marketing or whether it's with our podcast or YouTube channel or our emails. There's going to be something that resonates. There's going to be something that doesn't as much. And so just taking that data and learning from it and then implementing it and being consistent with it too, is a big thing.

Sharon: (21:09)
Yeah. I think that's really where I can, you're really quite good at that in terms of just taking it as data and not letting it affect you as a person. How did you, I'm always curious to hear about the, kind of the emotions behind all that, because all that we're talking about, about building the business, it's kind of like logically, I get all of that. What was it like for you in terms of the emotions behind that? And you talked about how you've got to have the believe in yourself and confidence and faith that it's going to work. How do you get to that point where when you're not getting the results and you still continue to believe in yourself in the business and that it's going to work?

Monica: (21:51)
Yes, well, so when I first started online with my blog, I saw these other bloggers making thousands and thousands a month that I thought that sounds good to me. I'll just write and post and whatever. And, and then that wasn't the best path for me. I had to pivot and learn what was the best path for me. I really love working with my clients, working with my students. And so making that shift is really what helped propel my success with this business.

Monica: (22:18)
And so just, you've got to believe that what you're trying to do is possible have the faith in yourself and also know that you're not going to give up. So that's something I knew that whether the blog worked out, I was committed to the blog, but then when I saw the signs that the Facebook ads was kind of the thing, that's when I realized, okay, it's okay to pivot because this feels right. This is what it's supposed to feel like. It's not supposed to feel hard and something that I'm not loving as much because I still don't consider myself a writer. And so, but working with my clients, showing up for them every single day, that really lit me up. So you'll learn as you get started, if you're just starting out, you'll kind of learn what you like, what you don't like. Some people love to write and they can imagine doing what I do being face-to-face with clients.

Monica: (23:03)
Some people like to be behind the scenes and just plugging away on their own schedule. So figuring out what's best for you, but then also just believing that there's a path looking for success stories. So when I, when we were getting out of debt, it was the success stories that helped us believe that it was possible for us. We saw other people paying off massive amounts of debt. We're like, how is that possible? We learned and heard their stories. Then we realized, okay, well they did it with their income and their challenges that they face. Then we can do it too. And so that's how I looked at for other entrepreneurs too, who were similar to me, maybe starting off similar backgrounds or something. And that's why Pat Flynn has been such an inspiration. I felt like he's normal family, man. His family has always been top priority for him.

Monica: (23:46)
And he wanted to find a way on his own schedule to provide for his family that would allow him to be with their, with his young kids. And that story really resonated with me when I was starting out. And so just looking for other people who have done something similar that have had success so that, you know, it's possible and then just know that you're not going to give up, you have that drive. You're going to be committed. You're going to pivot when necessary, but you're going to keep going and you're going to figure it out.

Sharon: (24:10)
Yeah. Wow. Okay. Yeah. So that definitely is something that just staying consistent, keeping focus, having the belief right in yourself. And so now when you look back, did you have anything that you think you would have done differently or kind of lessons learned from this amazing journey that you just talked about?

Monica: (24:30)
Oh, I think, I think I would have pushed myself to become more visible sooner. I was, I mean, growing up, I was super shy, super shy. I did not want to be called on in class. And so, and I just didn't want to stand out. And so with my online business, that was just very, oh, I was so nervous to like hit publish with my blog at the beginning, I was like, oh, that's a public. People are going to see it. And so I think that with my blog, I kind of hit, I didn't want to be like, look at us. We paid off debt. I didn't, I never want to come across like that. And so I think I was nervous and I held back too much where I didn't put myself out there that I could just stake my claim that yes, I can help people get out of debt because I know we've done it, we've helped other people do it.

Monica: (25:17)
And so I, I was hesitant to do that. And so when I started my Facebook ads business, I pushed myself to do that more. Although I still looking back and still today, I still get nervous about being center of attention and really toot my own horn. I'm hesitant to do that. And so, but I know that it's important for us to share our wins, to share our client's wins, our student wins. And so I'm working with my team to figure out a way that we can do that better. So it's not me tooting our horn, but really showcasing our, our clients and our students. And so still working on that. But I wish that that was something that I had started pushing myself out of my comfort zone. a little sooner.

Sharon: (25:55)
Yeah. I would never have imagined that because, you know, you're like, you're so well, I find to me you're quite visible and you're here really natural in front of the camera and on your podcast when I listened to you speak. So I wouldn't have guessed that, but I think, yeah, that's an amazing thing about entrepreneurship. I've also found is that you constantly having to push yourself out on doing things that you've never done before. That feels a little bit uncomfortable and it's kind of even coming on this part. Cause, cause I'm like you I'm naturally quite introverted and shy and I can completely identify with what you said about not wanting to be called in class. I would be the one who would look down on the teacher with the class, right. With a question just don't call me. So even coming on a podcast and talking about that on what I do and during the interview, sometimes I, I didn't sleep very well the night before the interview today because I would just be a little bit nervous, but it's kind of the constant pushing yourself. And then when you've done, it actually feels so good. Right. Yeah. Yeah. So could you talk a little bit more about maybe your course for people who might be interested? Like what would people expect if we were to come in on your course?

Monica: (27:12)
Yes. So flourish of Facebook ads, the name and the program, and it takes you through this six simple steps to creating campaigns that convert. And I've had great feedback from the program that I just break it down. Very, step-by-step very easy to understand because I know Facebook ads can be intimidating. You get in the ads manager the first time and you're like, there's all these buttons and names and numbers. And what does this all mean? And so I just break it down for you and very easily. So you know exactly what you need to plan out every step of the way there are case studies.

Monica: (27:41)
There are examples. There are tests that I showcase in there of we tested this and then we tested this and this one worked and here's why, and then I show you, step-by-step how to plug it all in the ads manager, I'm working on an update right now. You mentioned iOS 14, I'm working on an update currently, as we speak to incorporate all of that, because that is new. So there are just more things that we need to do. Facebook has made changes because iOS, um, so Apple's iOS operating system has updated. And so now they're giving all the apps are required to give people the option to opt out of tracking. And so that affects the pixel and affects the data that Facebook can collect on people who opt out. And so Facebook has made changes on their backend in order to adjust for that and be ready to kind of navigate that as best as, as they can for their advertisers.

Monica: (28:31)
So there are some changes with that. So I'm making the updates currently for that. And then we talk about, once you get your ad going, what do you do after that? And that's what Michelle and I talked about the testing and tweaking and optimizing because Facebook ads, unfortunately they're not set it and forget it. Sometimes you'll hit on an ad and the right audience and it's just working. And so you want to just leave it be, but other times, and many times you get something going, you find what the results are you think, okay. I might be able to lower my cost a little bit better, my cost per result. And so we talked through tests and tweaks that you can make to further improve your results. So you can lower your costs and get the most results for your ad spend. And then with that, there's also a VIP program.

Monica: (29:15)
That's a monthly membership program. So you can say it in as long as you like, you can hop out if you're not focused on Facebook ads hop back in when you are, or you can pay for the annual and get a discount. And that's where we have the Facebook group. We have the group coaching calls and we really get you the help that your hands on help with your ads, a feedback you need. And that was the support that I wished that I had when I started off with Facebook ads, because at first I was putting together my ad and was like, I hope that people resonate with this putting together my landing page. I hope that this converts well then. And so I would've loved to have people to bounce it off of. And so that's what we have in the flourish VIP and the group coaching calls is we'll walk through people, setting up their campaigns and we'll walk through other testing options that they can do, how to improve landing pages, how to optimize our funnels. Um, because a lot of times people think that Facebook ads don't work, but it's just because their funnel isn't converting. And so we look at those different areas and give feedback there as well. So we really like to give as much help as possible so that our students can have success with their Facebook ads and it's really.,

Sharon: (30:19)
So this is something that anyone even with no zero experience can start off with and all the way to people who've been doing it for a while, because you'd be looking at tweaking and fine tuning and making it better and making the costs better. Right?

Monica: (30:32)
Absolutely. Yeah. If you, if you've never been an ads manager, then you are totally taken care of, but if you have been running ads, a lot of my students have already started running ads, but they, they come to me and they say, oh my gosh, I wasted thousands of dollars testing ads. Cause I thought I could just figure it out. And then I went through your course and my costs instantly dropped and I was able to make back my money right away. So if you've been testing and tweaking ads on your own, but you feel like there's something missing, something's just not right. It should work because I see other people having success with ads, then the program can be great for you and also the VIP to get that hands on support as well.

Sharon: (31:07)
Yeah. And so just so people know, the course is called Flourish with Facebook ads and we'll put the link there as well on the show notes. I just had this burning question. And since I've gotten here, I've just gotta ask, you know, like with budgets, what would you say would be a good daily budget? Because I've heard so many different numbers, like there's a certain amount you should set. And then in anything below that it's not going to be effective and you should have ads running for a certain number of days and a month. Yeah. So just wanna get your thoughts on that tactical question.

Monica: (31:36)
Yeah. So with Facebook we can set our budget and usually like to stick with the daily budget, you can do a lifetime budget if you have like a launch or something, if you'd like, but I like to be in control of the daily budget and adjust it as necessary. So as our costs are decreasing, then I like to slowly increase it, increase the budget to take advantage of that. Or if something's not working, we can pull back on the budget. So you're always in control of the budget. So it depends on the offer. So if we're driving traffic to a blog post, many of my financial clients are bloggers.

Monica: (32:06)
And so we'll drive traffic to a blog post. That is the offer. The blog post is the offer in the ad. And so that is usually a much lower cost per click. We shoot for less than 10 cents per landing page view from the ad. And so with that, we can get a lot of results for a little amount of money. And so with that for each test, we'll set a $5 a day budget. And so each test is this ad with this audience. And so for testing three different audiences and three different ads, then we do the math and figure out what the budget is there. And so if we're, if we're driving traffic though, to a lead magnet, which most of the time people are going to be driving traffic to a lead magnet, to grow their email list, to get people into their sales funnel, or maybe you're driving traffic straight to a paid offer, then that's where we want to increase the budget because we're going to get fewer results for ad spend.

Monica: (32:53)
Those will usually cost more. That's just the way it is because not as many people are going to be converting as it is with just a click. When you're asking for just a click over to the blog post, that's an easy ask. And so more people are going to convert with that. So for that, our results could be a few dollars per result. And it kind of depends on which niche you're in, what space, what your offer is, whether it's a webinar or offer or a paid offer or a free checklist. Those can have all different costs associated with them. So our rule is to start with minimum $10 a day for each test. And so with our clients, we'll work with their budget and figure out how many different tests we can do. Or if we want to start with a little bit higher budget, if we really want to push, but I like to start low and then increase the budget.

Monica: (33:38)
Once we see things are working. So I don't want people to waste money on Facebook ads, but we do need to give the algorithm enough to work with so we can get some results. The algorithm can learn who is converting, and that will help to optimize our ads. The algorithm wants us to have success with our ads. And so we need to give it enough budget to work with so that it can develop that data. So it can help to put our ads in front of the right people who are more likely to convert.

Sharon: (34:04)
Yeah. Okay. Got that. So yeah. So people who are confused with Facebook ads, I am definitely going to be checking out your course that's for sure. Please check out Uh Monica's course you'll find that I find that your style is very systematic, which is what I like, because when you're completely clueless, you just want to be told, okay, what's the first thing that you should be looking at and doing, and then just be guided along the way. So thank you for, for sharing that. So my final question, I always ask all my guests, since this is the financially free woman podcast, is to hear your idea and your definition of what financial freedom means to you.

Monica: (34:39)
Yeah. So freedom for me is really nice knowing that we have our finances taken care of and we have their freedom to do what we want when we want. And so for me, I love having flexibility over my schedule. I can take an afternoon off if my kids have an event or something, or I just want to take the day off for whatever reason that I don't need to ask permission. And so for me, it's being in control of our finances, knowing that we're taking care of there, but really that we can create a life and the lifestyle that we want for ourselves and for our family.

Sharon: (35:16)
Yeah, definitely the freedom, the sense of freedom. It's kind of really the important piece, which, you know, just knowing that you have control over your time, I guess, and how you want to be spending your time. So, yeah. So thank you so much for such an engaging and enlightening chat about your, what you've done and the journey and how it's a little bit of being open to the trial and error along the way. And then finally finding kind of really your area of talent and genius and while really finding success with that. So I appreciate you kind of sharing the whole journey along the way. Monica, is there anything else that we missed out that you think that we should just make sure that we have that cover and you want to share with our listeners today?

Monica: (35:59)
I think just reiterating that if you're just getting started with your journey, just believe that you will figure it out, just be focused on your goal and what achieving your goal will help. Will it mean for you for your family and just be focused on that and then learn that as you keep going, and maybe you have failures along the way that is normal, that is to be expected. But the way that I look at failures is that they're always a learning experience. So when something doesn't work right in my business, I always look at it. What can we do next time? So that we kind of are ahead of that and not surprised by it not caught off guard. If something is Morgan, my marketing or my Facebook ads, then I just look at it. Okay. Is there something that did work here or do we just need to start from scratch? And so just knowing that you're always learning, you're just gathering information as you continue along your journey. And pretty soon you'll look back and a few years and you'll be just amazed with what you created.

Sharon: (36:53)
Wow. That's really inspiring. Thank you so much for the encouragement. And I really look forward to learning more from you on Facebook ads and also on your podcast. So Monica, you want to talk a little bit more about your podcasts and where people can look and listen to your episodes?

Monica: (37:11)
Yes. So the podcast is the ‎Flourish to 7 Figures Podcast. And so we are on a mission to help as many people as possible, achieve seven figures in annual revenue in their business. And so of course we help our clients with Facebook ads, but I love diving into more than just Facebook ads on the podcast. I love to talk about strategy and building a team and mindset and all the things that go into creating a successful online business. And so we talk a lot about Facebook ads on the, on the podcast, but I also interview amazing guests who have incredible stories and building their successful businesses and can teach us things that could help us on our, our way to flourishing to seven figures. So that's for some few years back.

Sharon: (37:53)
Sounds great. Thank you so much, Monica for your time today. And I will be seeing you online definitely. And listening to your podcast and checking out that course. So thank you so much for joining us here today.

Monica: (38:05)
Well, thank you so much for having me. This was a wonderful conversation. Appreciate it.

Sharon: (38:09)
Thanks for listening. If you liked what you heard, please leave a review on whichever podcast player you were listening on. It really helps me further. My mission of helping more people realize their highest potential and live rich fulfilling lives. Don't forget to hit subscribe, to be notified when a new episode is released each week, finally download the worksheets and check out the resources for the episode and most importantly, practice what you learned so you can transform your life. I'll see you in the next episode.

Sharon: (39:15)
If you’re wondering how you can even begin to turn your passions into profit, then I’d like to invite you to join my online course and coaching program, MOMS WHO PROFIT. This is a program I created to teach my 3-STEP PROCESS to help you figure out how to get paid doing what you love. Head over to momswhoprofit.com to sign up. I hope to see you in the program!

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SHARON SIDHU
The Financially Free Woman Podcast Host

ABOUT SHARON & THE FINANCIALLY FREE WOMAN PODCAST

The Financially Free Woman Podcast was launched in November 2020 during the COVID-19 pandemic to share the stories of everyday people making a living doing what they love. While training her students in leadership and mental resilience, Sharon noticed the rising level of financial stress and anxiety experienced by many of her students. It dawn on Sharon that this was an opportunity for her to share how she overcame her own financial anxieties triggered by her personal experience with a 6-figure business debt and being let go from her job as the family's primary breadwinner. She began sharing everything she learned about mastering not just the practical side of money but also her mindset around money. Through this work, Sharon began meeting and building a community of women creating and living their dream lives. The Financially Free Woman Podcast is a collection of stories, practical tips and strategies to help you discover your passions, and use them to make a lucrative living. Imagine a life where you spend your time doing what you love and getting paid well for it! That's exactly what these women featured on the podcast are doing and they tell you how! Get inspired and start creating your own your dream life!

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