One of the issues that prevent ads from being effective is not reaching the right target audience. This leads to campaigns not achieving conversions and businesses wasting time and budget. The solution in this situation is the Lookalike Audience, which helps businesses attract new customers who share similarities with their current customers. This helps optimize Facebook ad campaigns and increase conversion rates. In today’s article, Optimal Agency will guide you on how to create Lookalike Audiences on Facebook.
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What is a Lookalike Audience?
Also known as a similar audience, it refers to a group of new users who have characteristics similar to your current customers. It is a powerful tool in Facebook advertising that allows businesses to expand their reach to their target audience. Using this tool, you can create additional audiences or customer lists from available information to run ads.
Lookalike Audience is very supportive of targeting customers for ad reach. Based on the interests, characteristics, and behaviors of existing customers, the algorithm will search for and identify new customers with similar traits. This expands the reach to the target audience, enhances ad effectiveness, optimizes costs, and maximizes revenue.
Benefits of using Lookalike Audience in Facebook Ads
By creating and using Lookalike Audiences on Facebook, businesses can gain the following benefits:
Reach the right potential customers
One of the standout advantages of using Lookalike Audiences is the ability to accurately reach your target customers. By using Lookalike Audiences, you are shaping your ads to target individuals with characteristics similar to your current customers. This helps your ads reach people who are more likely to be interested in your products or services, leading to more relevant and effective ads.
Expand reach
Lookalike Audiences allow businesses to reach new users with similar characteristics, interests, and behaviors as their current customers. This helps businesses expand their target audience reach and drive more effective Facebook ad campaigns.
Increase conversion rates and revenue
Using Lookalike Audiences, Facebook’s algorithm will search for and identify new users with similar characteristics and behaviors to your current customers. This increases the likelihood of interaction with your ads compared to random targeting. This not only helps improve conversion rates but also boosts revenue for your business. By optimizing the targeting process, you can achieve better results with the same budget and maximize your Facebook Ads campaign ROI.
Improve ad campaign performance
By targeting similar audiences, businesses can improve the overall performance of their Facebook Ads campaigns. This includes metrics like click-through rates, conversion rates, and return on ad spend. By reaching new users similar to your high-value current customers, businesses can enhance their competitive edge, increase market share, and improve ad performance.
Save time and cost
Instead of spending time experimenting with different audience groups and conducting complex analyses to find the right audience, Lookalike Audiences help advertisers quickly find target audiences with similar characteristics to their current customers. This significantly saves time in identifying and targeting audiences.
When businesses target individuals with similar characteristics to their current customers, it increases the conversion rate for ads. It also enhances campaign effectiveness and optimizes costs, avoiding budget waste on unrelated audiences. This results in lower total Facebook ad costs and higher ROI.
You can also learn some other information like how to reactivate Facebook ad account.
Some potential customer files for creating Lookalike Audiences
Since Lookalike Audiences are a key factor in the success of remarketing campaigns on Facebook, creating effective and campaign-specific Lookalike Audiences is a topic of interest for many advertisers. Here are some potential customer files that can be used to create Lookalike Audiences:
Customers converted on your website
Creating a similar audience based on people who have completed conversions on your website will yield high efficiency and significant profits. This audience file is built from individuals who have shown a demand for your products or services. To obtain user data from your website, you should install Facebook Pixel on your site.
Page followers
This is the easiest audience group to create a Lookalike Audience from because it is based on the list of people who have liked and followed your business’s Facebook page. You don’t need to create an additional list for updates; you simply need to select your Facebook page as the Lookalike source.
People who watch videos
For users who have clicked on and watched your business’s video ads, especially those who have watched over 50% of the video duration, they have shown a certain level of interest in your product or brand. Creating a similar audience from this group will help effectively reach potential customers.
How to create Lookalike Audiences on Facebook?
Before creating a Lookalike Audience on Facebook, you need a Custom Audience as the source. The larger the custom audience file, the higher the accuracy of the Lookalike Audience. This gives Facebook more data to analyze and find similar people.
For a Custom Audience, it should have at least 100 people, with 1,000 or more being optimal. Once you have a Custom Audience, you can use it to create a Lookalike Audience with the following steps:
Access the Facebook Ads Manager and go to the Audiences tab. Click the Create Audience button and select Lookalike Audience from the dropdown menu. Then, select the source for creating the Lookalike Audience. This can be a custom audience, a customer list, website traffic, people who have interacted with your Facebook page,…
Since you already have a Custom Audience, select it. Next, choose the country or region where you want to find a similar audience. Ensure that your audience is relevant to your target market.
Now, choose the size of the Lookalike Audience you want to find. Use the slider to select the desired percentage: 1-10%, 10-25%, or 25-50%. The smaller the audience size, the more similar it is to the source audience. Additionally, Facebook provides an estimated reach based on the size you choose. Select an appropriate size.
You can also create multiple Lookalike Audiences with varying levels of similarity to your source. Once you have completed the settings, click Create Audience. Facebook will then process it, and the Lookalike Audience will be ready for use in about 30 minutes.
How to use Lookalike Audiences effectively?
Knowing how to create Lookalike Audiences on Facebook is not enough; you also need to use this tool appropriately to enhance the effectiveness of your Facebook ad campaigns. To effectively apply Lookalike Audiences, you can follow these methods:
Carefully consider and select your source audience
Each ad campaign targets different goals, so the audience you need to reach will vary. Therefore, you need to adjust the source audience appropriately to create a high-quality Lookalike Audience that will help your Facebook Ads campaign achieve the best results. For example, if you want to increase brand awareness, choose people who follow your Fanpage.
Choose high-quality data
Ensure that you have sufficient data about your source audience to create a quality Lookalike Audience. The better the quality of the data, the better the campaign results will be. Selecting data that aligns with your goals will save costs and time in finding target customers.
Regularly update audience lists
Regularly classifying and controlling the audiences that frequently access your Fanpage will help optimize the Lookalike Audience list. The system usually updates automatically every 3-7 days.
Check and find the appropriate audience size
Each ad campaign will target different audience sizes. The smaller the Lookalike Audience size, the higher the similarity to the source audience. With a larger size, Facebook will have more data to analyze and identify the target audience. This allows businesses to expand their reach, though the similarity between the Lookalike Audience and the source audience will not be as high. Therefore, you need to choose the appropriate audience size to ensure the ads reach the right audience and increase conversion rates.
Combine multiple features and precisely Identify Locations
If you want to reach a specific group, target based on criteria such as age, gender, behavior,… Make sure you fully utilize the targeting capabilities of the Lookalike Audience. Precisely identify locations to create a suitable Lookalike Audience to expand your advertising market.
By the article above, you have a better understanding of how to create Lookalike on Facebook. We hope you can create and use Lookalike Audiences effectively in Facebook advertising to achieve high conversion rates, increase sales and profits, and optimize costs.
Please see more:
- Top 5 how to view your competitors’ ads on Facebook
- How do the ads on Facebook work?
- How to turn off professional mode on Facebook?
FAQ
Facebook’s algorithm analyzes user data, demographics, interactions with content, interests, and data collected from Facebook Pixel to find groups of people with characteristics similar to the initial target audience. This process helps create an expanded customer base with similar characteristics, behaviors, and interaction potential as your current customers.
Although Lookalike Audiences can be very effective in reaching target customers, they are not always applicable. Especially when you are new to running Facebook ads and do not have enough data about your target audience. This audience type is most suitable when a business has a clearly defined source audience that has proven engagement and conversion levels.
