Using Custom Audiences is a great way to take advantage of Facebook ad targeting to connect with consumers who have already shown interest in your brand. You can create custom audiences to recapture the attention of your website visitors and sell new, extended, or complementary products and services to customers in your database or email list.
But what if you want to attract new customers who are not yet familiar with your brand?
This is where Facebook Lookalike Audiences come in. You already know what your best customers look like, and now you can use this information to put your Facebook ads in front of those who are very similar to your current customers.
Below, I’ll talk a little more about what Lookalike Audiences are and how you can use this awesome Facebook ad targeting feature to reach more qualified leads.
What are Facebook Lookalike Audiences?
Facebook made Lookalike Audiences available to all advertisers in March 2014. This feature works as an extension of Custom Audiences, which help advertisers remarket to website visitors and other current customers on Facebook. Unlike Custom Audiences, Lookalike Audiences help you reach those who have not yet been exposed to or interacted with your brand.
Instead of serving your ads to current customers, Lookalike Audiences allow you to deliver targeted advertising to new viewers who are similar to individuals that have visited your website, used your app, or connected to your Facebook page. This helps you expand your reach and increase the number of qualified leads that your Facebook ads bring in.
How Facebook Lookalike Audiences Work
When you create a Lookalike Audience, Facebook analyzes the list of people in your chosen Custom Audience and creates a new audience that resembles that initial Custom Audience. This basically means that Facebook finds people that it believes closely matches your best customers or visitors and creates a new audience that you can now deliver targeted ad content to.
When choosing which Custom Audience to use for your Lookalike Audience, pick those that have proven to be the most effective at generating leads and sales. This will help you improve ROI on the ads that are targeted to your new Lookalike Audiences.
There are 3 types of Custom Audiences that you can use as a source for your Lookalike Audience:
1. People who are similar to your website visitors.
You can use data from your Facebook pixels to find other people who are similar to those who have made a purchase on your website. This helps you reach individuals who are most likely to be interested in your company’s product or service offering. According to Facebook, Shopify experienced a 2x decrease in cost per lead when they used this method to create a Lookalike Audience.
2. People who are similar to your mobile app users.
If you have a mobile app, you can also use this data to create a Lookalike Audience. This allows you to create an audience of individuals who are similar to those who have made previous purchases on your app. You can then reach this new Lookalike Audience by serving mobile app ads directly to their device.
3. People who are similar to your Facebook fans.
Facebook is a great place to start a conversation and engage your leads and customers. That is why targeting people who are like your Facebook fans can be an effective way to reach new viewers who value and enjoy the same types of things as your current loyal fans.
How to Create Lookalike Audiences
Now that you know what Lookalike Audiences are and how they can help you bring in more qualified leads, it’s time to talk about how to set them up on Facebook.
Using the Power Editor, you can create a Lookalike Audience:
- Go to your audiences, and click on “Create Audience.” This should be at the top-right of the page.
- Choose “Lookalike Audience” from the dropdown menu.
- You can then choose your source. This can be any Custom Audience including conversion pixel, app use, or Facebook page.
- Choose the country and audience size. Where would you like to find similar people? How large would you like your audience to be?
Now, all you have left to do is click “create audience.” It can take about 6 to 24 hours for your Lookalike Audience to appear. But as long as you are actively targeting using that audience, it will refresh every 3 to 7 days.
Overall, Facebook Lookalike Audiences are a great tool to use as part of your Facebook advertising strategy. Once you’ve decided what Custom Audiences you want to use as a source, you will still need to create engaging ad content that is targeted toward your new Lookalike Audience. Remember, though they are similar to your Custom Audience, this group of viewers have not yet been exposed to your brand. You will need to keep this in mind as you develop your ads. By reaching out to individuals who are similar to your current leads and buyers, you can improve the ROI on your Facebook advertising and expand your list of qualified leads.
What success have you seen using Facebook Lookalike Audiences?