One of the main reasons why marketers are drawn to Facebook as a marketing tool is because of the platform’s effective targeting capabilities.
Facebook’s broad range of audience data is what gives advertisers the ability to target their exact market and lookalike audiences are one targeting option that will reduce the amount of time you’ll need to spend finding your ideal audience on Facebook.
What is a Facebook lookalike audience?
Lookalike audiences give you the opportunity to reach people who are more likely to be interested in your brand, products or services; people who are similar to your current audience.
Lookalike audiences go beyond just demographics as Facebook uses your current audience data to identify common characteristics between your customers. This information is then used to target new Facebook users who share these characteristics, allowing you to expand your reach and market to people who have a very high chance of being interested in what you have to offer.
What you need to setup a lookalike audience
Once you login to your Facebook account, you will have the option to create a custom audience when you’re setting up the targeting for your campaign.
Once you click on Create New Custom Audience, you will be given several seed audience options.
- Customer List: This includes email, phone number and Facebook ID data. Most advertisers will generally upload their current email database.
- Website Traffic: This is a list of people who have visited your website or viewed specific pages on your site.
- App Activity: This is a list of people who have taken a specific action in your app or game.
- Engagement on Facebook: This option allows you to create a list of people who have engaged with your content on Facebook.
You will also need to decide how similar you want your lookalike audience to be to your seed audience. Values range from 1% – 10%, 1% being the most similar.
Facebook will now use this data to build a target audience for your latest campaign based on the characteristics of your seed audience.
Related: Why Remarketing Matters
Tips for enhancing your lookalike audience campaign
In order to get the best ROI on your next Facebook campaign, here are a few tips:
- Keep testing your copy. Even though you will be speaking to a similar target audience, it’s still important to test out your copy, images and calls-to-action to ensure that you’re spending your budget as effectively as possible.
- Segment your lists. Segmentation still applies when creating a lookalike audience on Facebook. Segmenting increases the quality of your campaigns and will extend your reach.
- Go easy on the additional targeting. Remember, you want to reach as many relevant people as possible so while it’s completely fine to add additional targeting to a lookalike campaign, it might reduce your audience size so keep an eye on that during setup.