Proper lubrication of your bicycle, is important. A well lubricated bicycle will shift crisper, ride quieter, and require less effort to pedal.
Check out the video to see the proper way to apply lube to your bike.
A little lube goes a long way. Apply lube to your bike sparingly, because too much lube will tend to collect more dirt and can spin off on to you bicycle.
Be sure to wipe off excess lube after application. Any lube that you can wipe off with a cloth is excess lube.