How To Facebook Lookalike Audiences
Lookalike audiences are the Facebook feature when it comes to audience targeting. In this article, we discussed about how the 1% to 10% match leads to cold audience with top of the funnel marketing opportunity, however, if you carefully build your LTV column and tell Facebook about what which customers are higher LTV to you and which ones aren't, that data can create lower funnel audience for you.
If you don't already know how to create Custom Audiences & Lookalike Audiences, the Facebook help page has that covered with their Create a Lookalike Audience instruction, and check out our PPCHero article on 3 Tips to Better Understand Facebook Audiences for more details on audience building.
Pixel allows you to do things like; Retargeting users who have abandoned a cart, who have recently viewed your pricing page or subscribed to a webinar. Facebook has become one of the most effective advertising channels thanks to the amount of data it has on its users.
Now, your ads won't just appear to your followers and previous customers, it will appear to people who closely match your previous customers and are likely to make purchases in your vertical. 1. Upload a customer file to your Power Editor, then Facebook will blend the records with existing user accounts and create custom audience from the matches.
Most of them do not require you build a Custom Audience as a source audience ahead of time. Custom Audiences: Upload a list of your existing customers using Custom Audiences Then use Lookalike Audiences to find people that resemble that audience. Finally, Lookalike Audiences are for the bold and creative: the sheer range of options for the Custom Audiences you can create from a source should intrigue marketers who love experimentation and testing.
Moreover, Facebook recommends to use lookalike campaigns for the lower funnel targeting. Source is the existing audience that you want Facebook to use as a base in order to create a Lookalike audience of people with similarities to those you have selected. To get started, the platform itself offers a variety of useful manual targeting parameters for advertisers to utilize for targeting new leads.
From the newly created lookalike audiences create a new Ad by clicking on ‘Create Ad†in the top right hand side with the new lookalike audience checked. Now that you have a custom audience, you're ready to create a lookalike audience. Ads served to lookalike audiences ended up being almost three dollars cheaper than ads served to our interest-based audiences.
The powerful lookalike audience is based on people who make a purchase or otherwise take action. You don't have to input interests or demographics—Facebook will find that info for you by mining your current customer list. There are different ways to create a Lookalike Audience in Facebook.
Here you can either upload a customer file, or copy and paste the data. After removing the two dead zones and factoring for Facebook's net reachable quotient, we uncover the total reachable sub-segment of a lookalike. By using two pieces of information, namely source audience and location, a lookalike audience can deliver potential buyers much easier than traditional Facebook advertising.
This is the set of people you want the audience for your campaign to resemble. To start off, you should be creating most of your audiences with 1% audience size, these will be the people that most closely match those you've submitted in your source lists to create the Lookalike audience.
The combination of Lookalike audiences and Purchase Conversions optimization is usually enough to let Facebook do it's magic to narrow down the ideal audience to deliver the ads to. This % match in Lookalike Audiences tells Facebook to limit to just 1% of the top match results.