Today we're going to be looking at Facebook Lookalike Audiences. For top of funnel prospecting purposes, creating large lookalike audiences can amplify your reach; if you've exhausted your tightly-knit lookalike audience options, a broader source and greater degree of difference—layered with some of Facebook's other targeting options—makes for phenomenal brand building through content boosting.
By creating the custom audience, you can build the audience of people visiting, and then the lookalike audience can find other people on Facebook who aren't part of your audience now but hopefully have the same interests as the people who are visiting your site.
In addition, lookalike audiences are awesome when you've already reached the limits of your current prospects' potential and you strive to expand the scope. After completing this step, use the slider to select the size of your lookalike audience. Lookalike Audiences can be created from any other Custom Audiences.
Facebook analyzes the users in a Custom Audience and matches their common characteristics with other users to create a brand new group of people you've not yet reached but who are similar to your existing audience. For example, you can create a lookalike audience based on people who have engaged with your Facebook posts, or based on users who have liked” your page.
Converters by Time Period - If you are lucky enough to have so many conversions that your custom audiences are well into the thousands consider testing different time length segments. This option is a huge boon for marketers and business owners alike, as it allows you to take a relatively small sample size (say, 10,000 of your customers) and create a Lookalike Audience of hundreds of thousands of people.
Lookalike Audiences takes the guesswork out of advertising on Facebook. This allows you to target each new audience on its own merit without competing with the audiences you know to be higher quality. The second thing to say is that the quality of your Lookalike audience will actually be completely dependent on the quality of your source file, or your Custom Audience.
In your Facebook Ads Manager, select Tools - Audience - Create an Audience - Lookalike Audience. You can also run a post engagement ad to build an engagement retargeting list quickly and cost-effectively. For instance, say Facebook's lookalike algorithm has enough data to build a 1% lookalike list with an R-squared or other accuracy metric describing the quality of the match of 90%.
Now that you have this brand new audience of people similar to your (hopefully) best customers, it's time to put it to use. Although the data is anonymized, Facebook makes that data available to advertisers to help them reach their ideal target audience. This is one of the most profitable ways to target, as for example, you might show ads to people who recently visited your website's pricing page or subscribed to your blog.
Through the sales and marketing efforts, this company has been catching the eye of US audiences. Hi, I have a question about this Takeaway: It makes sense to create smaller Facebook Lookalike Audiences as they deliver higher campaign ROI. But if you're not really ready, or at the stage of being able to create Lookalike Audiences, because you haven't got the Custom Audiences, then go and check out my video on Facebook Saved Audiences, and pick things up from there.
In this post I want to share with you some examples from a recent Facebook Campaign I ran showing you just how effective Facebook Lookalike Audiences can be. Same principle as before, provide Facebook a list of your best customers, and let them do the best. After selecting the seed audience for your campaign, further refine your targeting using the interest, demographic and behavior targeting as you would for any other campaign.
If you have an audience, you'll select which Custom Audience to use. In this month's experiment, we tested three Facebook Lookalike Audiences to see whether targeting 1%, 5% or 10% of people work best. I mean that if you leverage videos on Facebook and this is how you acquire your follower base, the same content should be applied to your lookalike campaigns.