Facebook Custom Audiences are one of my secret weapons when it comes to Facebook Advertising. One specific form of custom audience that focuses on targeting new customers is Facebook Lookalike Audiences Since its introduction in 2013, Lookalike Audiences has proven to be one of the most effective ways to target new customers with relevant content on the social network.
Additional targeting options allow advertisers to choose in which country to show ads and to tweak the audience size to adjust how wide they want the reach to be. They can decide exactly how targeted they wish their lookalike audience to be; choosing between targeting the top 1% of users with similar characteristics, and the top 10% and anywhere in between.
Wrapping it up: the 1% Lookalike Audience outperformed both the 5% and the 10% Lookalike Audiences. To upload custom audiences, advertisers will encounter extra certification steps (still unknown) to certify that data was obtained properly. If you know your target market demographics well, you can use that info to create an audience to reuse in many of your campaigns.
Once you provide the data you want to create lookalike audience with, Facebook analyzes their profiles and identifies parallel users based on similarities. In your Facebook Ads Manager, select the Audiences tab and upload your list as a Customer List. This'll allow you to use lookalike audiences from different sources, increasing the overall reach and scalability of your campaigns.
As you can imagine, Facebook lookalike audiences are a powerful tool when utilised to drive additional revenue; especially during key trading periods such as Christmas (and beyond). And if that wasn't enough, recent Bain & Company research shows that repeat customers are cheaper to acquire and are likely to spend more on their second, third and ongoing visits.
The common practice from the marketing pros is usually to start with 1% and once they feel like they've scaled as far as they could with that audience, they start to broaden out to 2%, 3%, etc. Targeting warm audiences, such as website visitors, previous customers and Page Likers, almost always generates a much better ROAS than cold audiences.
A lookalike audience is a targeting audience based on a custom audience. Strangers you first targeted using demographics, behaviors, and interests become part of your web traffic custom audience upon their first visit—even if they don't take any other action on your website during their visit.
The idea behind Facebook Lookalike Audiences is simple: upload a list of customers and let Facebook find more people likely to buy. Lookalike audience targeting is based on the idea that people who are most similar to your existing users are most likely to convert.
The only column you need to match is email address and then you can go ahead and select Upload & Create. 1. They allow audience expansion without the risk of poking and hoping” with interest, job title, or other demographic targeting. Custom Audiences works by letting advertisers upload their customer databases and then matches those users to their Facebook Profiles using hashed email addresses or telephone numbers.
The more people you provide Facebook with to create a Lookalike, the better. Larger percentage lookalikes afford a greater pool of users to target, but typically produce lower ROI than smaller percentage lookalikes. If you are only interested in targeting a smaller geographical area (such as a state as opposed to the entire country) you will need to create a country-wide lookalike and then geo-target the location more precisely in your Ad Set.
The first step in building a Lookalike is to set up a seed audience. Facebook Lookalike Audiences are - theoretically - the best way to target ads to a new audience. They are created from people with whom you have an existing relationship—either as a subscriber or as a customer—or who have at least visited your website at some point in the last 6 months.