Trying to find new customers on Facebook can often feel like online dating. You can comb through large groups of people with a range interests, ages, and geographic locations, but that still doesn’t guarantee that they’ll be interested in your brand. Thankfully, Facebook has presented us with a new way to cut the clutter: Lookalike Audiences.
Don’t confuse Lookalike Audiences with Custom Audiences – while these are similar, Lookalike audiences leverage an existing, well-performing customer list, to target new customers. Lookalike also considers all the data from your most successful customers, finding their common data points, and then creating a new audience based on the matching information. This makes Lookalike audiences a great tool to use with a large, well-maintained database of customer information and spending habits.
There are almost endless uses for how Lookalike Audiences can increase conversions for your brand, but the key is to start with a high-performing customer database. You want this source list to be pulled from your best customers whose actions you want to be replicated with new customers. For example, if you want to increase your email subscribers, your reference customer list would consist of current subscribers who have the highest open rate. This list will also need to be fairly large, with 1,000-50,000 ideal customers for Facebook to match against.
Now, even though Lookalike audiences are based on previous customers, they will still be new to your brand, which means it’s best to use this feature at the beginning of the sales funnel. This is why Infinity Marketing always makes sure to match this new feature to the appropriate message, as part of the larger media mix.
While helpful, Facebook Lookalike Audiences are not a magic wand that brings in tons of new customers for everyone. Infinity Marketing utilizes this tool when there’s an opportunity to add additional variety to an already strong customer database and attract a new audience. This feature to a clients’ greatest advantage who has a national product. Because Facebook only allows you to dictate the country and not specific geographies, large brands and online services will see more success than small local service companies would. Keeping the big picture in mind is important to using Lookalike Audiences, and it requires another level of strategy, but if done properly, can yield significant results. So, do you have a product that could benefit from some growth from Lookalike audience targeting? Get in touch with us today, and we can help you determine if this feature could add an advantage to your marketing strategy.