Boost your social media strategy with Facebook’s ‘lookalike audiences’ tool
Social media marketing strategies are always changing, so it's important to ensure that your content strategy is open for change and is able to adapt to the new changes so that you can continue to reach your target audience.
Facebook is helping their users to get "the right messages in front of the right people", announcing a global rollout of lookalike audiences on March 19.
Lookalike audiences is a targeting feature that can help businesses to reach new customers and grow their businesses.
The feature was tested a few weeks ago as a new way for advertisers to reach potential customers who shared similar characteristics with their current customers.
Lookalike targeting is noted to have worked well both online and offline for businesses, which has led Facebook to launch it as a targeting option in power editor this week.
The targeting tool "builds off" another feature which was launched last year called custom audiences, which let marketers take their current customer lists and show ads to those people on Facebook.
"Now with lookalike audiences, Facebook can use attributes like interests or demographics and show ads to people who share common attributes as their existing customers," the Facebook Studio blog post noted.
"We've seen this new type of targeting drive a wide range of success metrics for direct response companies like Fab, including lower cost per checkout, lower cost per acquisition, larger purchase size, and faster and increased return on investment."
It's vital to note that in order to use lookalike audience, you must have a custom audience to build from.
Facebook says that your custom audience should be made up of people who have "taken the action" you're trying to achieve with your lookalike audience.
So if, for example, you want people to purchase more of one product, you can upload an audience composed of people who have bought that item or similar products in the past.
Posted by April Revake.