Facebook Lookalike Audiences

Do you want to find even more customers who are a perfect fit for your business? Facebook Lookalike Audiences are the solution you're looking for. In this guide, we'll cover everything you need to know about Lookalike Audiences.

What are Facebook Lookalike Audiences?

A Lookalike Audience on Facebook consists of users who act similarly to your existing custom audience. You can use these similar users in your targeting as a specific audience. Facebook leverages machine learning capabilities to identify individuals with similar demographic characteristics, common interests, or behaviors that make them resemble your custom audience when creating Lookalike Audiences.

Advantages of Using Lookalike Audiences

Lookalike Audiences can enhance your marketing funnel and provide numerous opportunities to engage with a highly interested audience. This audience is more likely to make a purchase, submit a lead form, or subscribe to your newsletter. Here are the key advantages of using Facebook Lookalike Audiences:

1. Quick way to expand targeting: Lookalike Audiences offer the simplest method to expand your ad targeting by creating an audience that is likely to be your potential customers and should be interested.
2. Easy way to find new customers: Creating Lookalike Audiences requires only a few steps to generate an audience of users who are likely to have high intentions towards your offer, compared to spending a significant amount of time and money searching for potential customers.
3. Lower cost: In Facebook advertising, Lookalike Audiences have a lower CPM (Cost Per Mille) compared to interest-based targeting or customer-based audiences.

How to Create a Custom Audience

To create Lookalike Audiences, you need to prepare a custom audience that will serve as the initial audience for the Lookalike Audience.

1. Go to the "Audiences" tab in Ads Manager. In the left corner, select "Create Audience" and then "Custom Audience."
2. Specify the source of your custom audience. Existing sources include:
3. Existing customers (using a customer list).
4. Website visitors (with Facebook Pixel installed on the site).
5. App activity.
6. Users who showed interest in your Facebook or Instagram pages, posts, and ads.
7. Users who interacted with a lead form, video, or catalog.
8. Users who engaged in offline activity at your store.
9. Configure the audience source, enter the name and description of your audience, and click "Create Audience" at the end.

How to Create a Lookalike Audience on Facebook

1. Go to the "Audiences" tab and in the left corner, select "Create Audience," then choose "Lookalike Audience."
2. Determine the source for your Lookalike Audience. At this stage, you can choose any custom audiences you have created.
3. Select the audience's location. The chosen location for the audience should match the country targeted by your ad set.
4. Choose the audience size and click the "Create Audience" button.

Key Points When Creating Lookalike Audiences

• Facebook recommends that the selected source audience should have between 1,000 and 50,000 users.
• The process of creating a new audience may take 6-24 hours.
• In one Facebook ad account, you can create up to 500 Lookalike Audiences based on one source audience.

Best Practices for Creating Lookalike Audiences

• Lookalike audiences based on the lifetime value of your best customers tend to be most effective. For instance, if you have many customers, but you want to find a similar audience based on people who have spent more than a certain amount.
• For lead generation businesses, create Lookalike Audiences from current customers.
• Create Lookalike Audiences based on purchases, initiated order checkouts, or items added to the cart.
• Generate a Lookalike Audience from website visitors, considering sorting by the time spent.
• Utilize different audience size combinations: 0-1%, 1-5%, and 5-10%.

Facebook Lookalike Audiences can be a significant addition to your Facebook marketing strategy. When used correctly, they can significantly expand your customer base and lead to more conversions, sales, and profits.