Facebook advertisers have many options to reach out and reach out to their targeted viewers. One method is to use Facebook Lookalike Audiences.
The Lookalike Audiences feature is an effective segmentation tool on Facebook that can help you find people whose demographics and interests are similar to your existing customers or followers. In addition, this targeting method is easy to apply, making it a powerful marketing tool.
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What is a lookalike audience on Facebook
Lookalike Audiences are a means to connect with new users via Facebook. Lookalikes are very like (except superior) if you are acquainted with AdWords Similar Audiences. Their most appealing aspect is that a set of targeting criteria doesn’t just define them; they have traits with a particular segment of your existing potential customers (chosen from your own). The possibilities of attracting lookalike audiences (and the degree of similarity they have to the audience you’ve selected) are endless.
If you’re selling widgets, putting up the list of email addresses of customer’s addresses will help you identify Facebook users that resemble the previous customers of your widget. If you’re trying to create leads and build a lookalike user base completing forms can help you connect with people on Facebook and more inclined to hand over their information.
How do Facebook Lookalike Audiences Help Advertisers?
Lookalike audiences are beneficial because they allow you to find people who are similar to your customers. For example, Facebook is awash with information about its users and can connect those data points. As a result, these lookalike audiences are highly efficient in identifying users with high conversion rates.
Like-minded audiences allow you to connect with an audience that is not interested or behavior targeting. Because the audience is from your current clients or qualified leads, You can avoid the guessing and checking method of increasing your reach. The audience size for lookalikes could be larger than your email lists or the Facebook “likes” total. If you want to create a lookalike audience on Facebook, you can select between 1%- 10% audience size. This gives you an audience that is two million within the U.S. The percentage is a measure of how similar you’d like the audience that you created to be to your audience. The smaller audiences will likely be more successful, ranging from 10,000 to 1,000.
People who look like you are generally more affordable than other behavior or targeted audiences based on interests. They are generally the most effective type of audience that Facebook currently offers if you are targeting between 1% and 2%. Upwork discovered that audiences that look like each other that use 1% or percent had the highest CPA performance for 67 percent often. This is because Facebook utilizes machine learning to adjust and tailor its targeting based on the success of conversions. Another benefit of Facebook performing most of the heavy lifting for targeted audience targeting using lookalikes is that it allows you to devote more time to other campaigns.
How to build a lookalike audience on Facebook
Choose the group to create a lookalike group.
You can select between page fans, website users, and customer lists. It is necessary to have at least 100 members of your customer group to allow Facebook to create a similar audience; however, Facebook suggests including at least 100 individuals. The larger sample size that includes more data points will give you the most accurate representation of your customer base and result in greater spending efficiency.
Select the audience size.
Larger audiences give you more exposure; however, the match is less exact. This is a good option in cases where you’re trying to reach the broadest audience by a wide swath but doesn’t care how close they have similarities to your current customers or fans. A smaller group of lookalikes will be more specific. Your advertisement will be less often seen; however, they’ll be better aligned with the traits of your existing clients or followers.
Target specific demographics.
Suppose you want to limit your reach to Facebook users that are similar to your current customers – and are older than 30 and reside in Chicago, for instance. In that case, you can include these parameters in the drop-down menus that are available in the Power Editor tool. Apart from geographical location and age, You can also include parameters that target a particular gender.
Create your ad.
Use the power editor to create the text and image to create your ad. Follow the standard Facebook best methods in mind. Use captivating language and appealing images to attract customers to your pages.