Brands and corporates constantly find new ways to fight the cut throat competition. One new way to market products on Facebook is through Lookalike Audiences. Your Facebook audience consists of users who consume your content on a regular basis. On the other hand, your lookalike audience consists of new consumers based on the profile of your current audience. Lookalike Audiences a highly developed tool which goes beyond basic interests and demographics to target new audiences.
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How does it work? The basis of all lookalike audiences is a source audience. Facebook maps all the data points of your current audience and matches it to the Facebook user database to find new, similar audiences within a specified area.
Lookalike Audiences is an emerging and highly sought after Facebook tool owing to its sheer effectiveness in allowing one to reach new audiences from the comfort of their office. Here is how you can build lookalike audiences for Facebook:
Content is the king and video is the king of kings. Video continues to be the best performing content. It helps greatly in brand recognition and building reach. As a first step to building video look-alike, find new people based on those who’ve already watched your videos. Create a custom video audience and analyse the people who have watched the video and their level of engagement. The Facebook Ad Manager will help you profile this custom audience. Once you use criteria and generate a profile of the current audience, you can use this to reach more people by the ‘create audience’ option.
While video is the most engaging form of content, the best results or responses can be gathered from emails. Even for the purpose of look-alike, it’s the best way to optimise the tool. You can use your existing customer list as the source for your lookalike audience. As with video lookalike audiences, you first need a custom email audience of your subscribers/customers before you can create an email-based lookalike audience.
You can build conversion lookalike audiences based on the profile of people who have completed a certain action. This is essentially what the conversion look-alike audience is. As with video lookalike audiences, you’ll first need a custom offer conversion audience before you can create conversion-based lookalike audience.
The easiest of the lookalikes is creating page lookalike audiences. Regardless of who engages with your organic posts, a page likes lookalike audience is a great way to find new similar target audiences.
The impact of creating look-alikes can be multifold, and the key to this is efficient profiling. A basic understanding of the audiences ensures targeting the interested ones in the hope of getting the desired call to action.