Proper technique in lubing your chain will help prolong the life of your drive train also a clean bike is a happy bike!!
1. Pick a lube. There are dozens and dozens of decent lubes out there depending where you ride. I could write a whole post about the different lubes and when/where to use them. For now consult a good riding buddy or a local mechanic. Here in Charlotte I like to use ProLink for everyday riding, in the winter rainy months or when I head up to Asheville in the winter I swap over to a more wax based lube.