How To Improve Your Facebook Ads Campaign With Lookalike Audiences?

9 tips for using Facebook Lookalike Audiences

  1. Use the right source audience for your goals.
  2. Get creative with Custom Audiences.
  3. Test your Lookalike Audience size.
  4. Choose high-quality data.
  5. Keep your audience list up-to-date.
  6. Use Lookalike Audiences in combination with other features.

How do I increase lookalike audience on Facebook?

How to create a Facebook Lookalike Audience

  1. Go to your Audiences.
  2. Select the Create audience drop-down and choose Lookalike Audience.
  3. Choose your source.
  4. Choose the country/countries where you’d like to find a similar set of people.
  5. Choose your desired audience size with the slide.
  6. Select Create Audience.

How effective are Facebook lookalike audiences?

While the 1% and the 5% Lookalike Audiences had a CTR of 0.82%, the 10% Lookalike Audience delivered a CTR of 0.66%. The Lookalike 1% audience delivered 115 leads and the others less. If you compare the cost-per-lead across all the three ad sets and the fact that each of them had a $500 budget, this was to be expected.

Can you boost a post to a lookalike audience?

Instead, you can boost a post to any custom audience you have set up in Facebook. That includes people on your email list, people that have visited your website, and any lookalike audiences you have created. That’s where the true power lies.

How do I optimize my Facebook ad campaign?

How to Optimize Facebook Ads

  1. Install the Facebook Pixel on Your Site.
  2. Use the Facebook Pixel in Your Popups.
  3. Get Crystal Clear on Your Campaign’s Goals.
  4. Transform Engaging Posts into Ads.
  5. Target Users Based on Location.
  6. Rely on Facebook’s Auto-Optimize.
  7. Research Your Competition.
  8. A/B Test Everything.

How do you create an effective lookalike audience?

How to use Facebook Lookalike Audiences

  1. Step 1: From the Facebook Ads Manager, go to Audiences.
  2. Step 2: Click Create audience and choose Lookalike Audience.
  3. Step 3: Choose your source audience.
  4. Step 4: Select the countries or regions you would like to target.
  5. Step 5: Choose your desired audience size.

How does Facebook choose your lookalike audience size?

Lookalike audience targeting is based on the idea that people who are most similar to your existing users are most likely to convert. You literally load a list of your best customers (called a source list) into Facebook and let the algorithm take the wheel to find new people who mirror that group.

What is the best lookalike audience?

Let’s take a look at some of the most beneficial lookalike audiences you can create.

  • #1 Website engagement lookalike.
  • #2 Key web content lookalike.
  • #3 App activity lookalike.
  • #4 Facebook Page engagement lookalike.
  • #5 Video engagement lookalike.
  • #6 CRM lookalike.
  • Conclusion.

When should I create lookalike audience?

When Should You Use Lookalike Audiences? You should utilize Lookalike Audiences if you know what you’re selling (such as a specific vehicle) and have a detailed list of past customers who have purchased that thing (AKA a list from your CRM).

Why is lookalike audience important?

Lookalike audiences are a Facebook segmentation tool that finds users whose demographics and interests are similar to those of your existing followers. These are easy to create and implement, making them an extremely powerful marketing tool for efficiently finding high-converting users.

What is the best audience size for Facebook Ads 2021?

500,000 to 1,000,000 people. “For your Facebook advertisements campaign, a target audience of 500,000 to 1,000,000 individuals is ideally best.

What do you need prior to creating a lookalike audience in campaign manager?

Lookalike audiences need to be created from valid matched audience segments with at least 300 matched members. Matched audience segments that are still building, expired, or in an error state can’t be used. Lookalike audiences can’t be used with audience expansion.

Is it possible to advertise only to users that have watched 95% of a video on Facebook?

Click Create a Custom Video Audience. Next, choose how long the person had to watch to go into that audience. It starts at 3 seconds, goes to 10 seconds, and then to 25%, 50%, 75%, and 95% of the video viewed. Then, select whether people who watched any video or a specific video see your ad.

How do I optimize my campaign?

How to Improve Campaign Performance

  1. Set Up Your Campaigns for Success.
  2. Improve Performance Through Titles and Thumbnails.
  3. Track Your Campaign Performance.
  4. Target Highly Engaged Audiences.
  5. Increase Click Volume.
  6. Boost Top Performing Campaign Items.
  7. Optimize Campaign Item Elements.

How would you optimize the campaign for success?

Here are five tips to set you up for success and help you get the most out of your campaigns.

  1. Install the Facebook pixel.
  2. Choose the campaign objective that aligns with your business goals.
  3. Define your target audience.
  4. Optimize for business outcomes, not clicks.
  5. Be flexible with your ad placements.

What are the most effective Facebook ads?

What makes an effective Facebook ad?

  • Create a simple CTA with one clear action.
  • Use a targeting strategy that helps you refine over time.
  • Write a clear and conversational headline.
  • Use an image that has creative tension with the headline.
  • Use the description area to remove friction for your CTA.

Facebook Lookalike Audiences: How to optimize ads to reach new customers

Do you wish you could eliminate the guesswork from your social media ad targeting? We all do, don’t we? To be sure, it’s fantastic that marketers have so many options when it comes to determining our Facebook advertising approach and who we target with our advertisements on Facebook. However, deciphering the plethora of targeting choices and considerations may be a demanding task in itself. That’s where Facebook Lookalike Audiences may make a significant difference. Instead of having to start each campaign from beginning or change a slew of targeting criteria, Lookalike Audiences allows you to create new advertisements based on your existing audience, saving you time and money.

Increased engagement and conversions with a lot less guesswork on your part.

What is a Lookalike Audience, Anyway?

Facebook Lookalike Audiences are a new ad-targeting tool that allows you to reach a whole different target population that shares traits with your existing target audience, based on prior engagements with your business account or advertising on the social network. The principle is straightforward in this case. Instead of conducting manual research to find a new audience, Facebook determines who would be the most likely to click through your advertising on your behalf. Various elements, including interests, interactions (think: “likes,” comments, and shares), and past ad clicks, influence this decision.

This is due to the fact that Facebook allows you to build Lookalike Audiences based on the following criteria:

  • Individuals that have liked and followed your Business Page
  • Pixels for conversions that you’ve already generated
  • Custom audiences that already exist

Additionally, this format offers greater customization and flexibility to more experienced marketers, in addition to providing more precise targeting as a default. For example, you may tailor your Lookalike Audience to your preferences or maintain new ad targets that are almost comparable to your existing ones. If nothing else, Facebook does an excellent job of guiding advertisers through the process of developing a Lookalike Audience and ensuring that it is relevant to their needs. After all, it is in the best interests of the platform to proceed in this manner.

Why use Facebook Lookalike Audiences versus other ad formats?

As previously said, there are several ad formats to select from on Facebook. What is it about Lookalike Audiences that makes them so unique? The following are some of the most significant advantages:

  • They help you save a significant amount of time. When it comes to fine-tuning a Custom Audience, you’ve already done the hard part by doing all of the research beforehand. Consider Lookalike Audiences to be a way to get more out of what you’ve previously built
  • In principle, Lookalike Audiences are “proven” rather than having to create anything from scratch. Because they are based on factors that indicate user interest, Lookalike Audiences may simply be used to augment your existing advertising campaigns. Lookalike Groups enable you to experiment with and target several audiences at the same time without having to run whole distinct ads, which is great for stretching your social media budget.

What scenarios are Facebook Lookalike Audience ads ideal for?

A significant amount of time is saved by using them. When it comes to fine-tuning a Custom Audience, you’ve already completed the most difficult portion of your task. It is possible to wring more value out of what you have previously developed; in principle, Lookalike Audiences are “proven” rather than having to create something from scratch. Lookalike Audiences may simply enhance your existing advertising campaigns because they are based on factors that indicate user interest.

Lookalike Demographics enable you to experiment and target numerous audiences at the same time without having to run completely distinct ads, which is great for stretching your social media budget.

  • You’re interested in reaching out to a different audience. Consider the following scenario: you wish to reach a hitherto untapped group. With a Lookalike Audience, you may broaden your targeting without straying too far from your existing ad audience’s interests
  • Your present ad audience isn’t interacting as much as it once did. If you believe you’ve reached the limit of your current client base or if you believe your base is too tiny, these sorts of advertisements might help you test the waters
  • You want to compare two distinct audiences against one another. Once again, Lookalike Audiences may be used to augment any of your current advertising campaigns. Comparing performance may open your eyes to fresh options without causing you to go over your financial budget.

What do Lookalike Audience ads look like in action?

The truth is that advertising based on Lookalike Audiences are no different from any other successful Facebook campaign in terms of creative design. As an example, below are a few instances from Facebook’s ownad success stories that demonstrate how such advertisements might be utilized in conjunction with the scenarios we outlined before. It is seen in this advertisement from theTeaching Companyhow Lookalike Audiences may be utilized to discover new ad targets in terms of location. For this campaign, the corporation used an ad that was previously only available in the United States and served it in Canada, the United Kingdom, and Australia depending on their top consumers.

Here’s another one from Shipt’s collection.

As seen by the 14-point increase in conversions, this is just another brilliant example of how targeting based on your existing audience can be so beneficial in increasing sales.

The brand discovered that increasing their efforts resulted in a big increase in conversions and add-to-cart events, both of which were previously low.

How to create a Lookalike Audience on Facebook

Imagine you’re interested in putting together your very first Lookalike Audience for your next project. Excellent! First and foremost, go into your Facebook Ads Manager account and create a new campaign. The “Create Audience” dropdown menu may be found in the lower left-hand area. As previously said, the platform makes the construction process very simple, but the sheer quantity of alternatives to pick from might be daunting. The following breakdown can assist you in getting things done more quickly.

1. Select your audience source

You have the alternatives we discussed earlier: Pages, Facebook Pixel, and an existing Custom Audience, all of which are available from the start. Use of “events with value” is encouraged by Facebook (AKA value-based sources). Because such targeting is based on actual prior consumer purchase data, it is more effective. If you create a Lookalike Audience based on a retargeting Pixel, for example, you can tailor your ads to reach customers who have greater (or lower) average order values. You should become familiar with the numerous Facebook advertising targeting choices available if you decide on using a Custom Audience as your source of information.

2. Choose your audience location

There aren’t any significant shocks here. After you’ve chosen a source, you’ll be invited to choose an area for your Lookalike Audience to be drawn from.

Another benefit is that it is useful if you are planning to launch or experiment with foreign marketing campaigns. This option enables you to locate appropriate ad targets depending on their geographic location.

3. Determine your audience size

Finally, you have the option of determining how “similar” your Lookalike Audience is to your own. The lesser the proportion in this column, the more similar your audience is to your source audience. On the other hand, a bigger number broadens the scope of your target audience. Whether you want a very comparable audience or a much larger one is entirely dependent on your objectives and financial resources. A little amount of experimenting goes a long way when it comes to Facebook ad targeting, and this is no exception.

Note: Lookalike Audience specs and requirements

It is necessary for you to become familiar with a few factors before you are permitted to develop your audience. Despite the fact that Facebook will alert you on some of them, be sure you take the following into consideration:

  • Your target audience must consist of at least 100 people from the same nation as you. When it comes to Lookalike Audiences, Facebook suggests between 1,000 and 50,000 of your “best” customers based on lifetime value, order quantity, or engagement for optimal results. It might take anything from six to twenty-four hours for your audience to be truly developed.

More tips for Facebook advertising and targeting

Using targeting strategies such as Lookalike Audiences can help you take your ad campaigns to a higher level of success. Make certain that everything, from content to budget, is optimized using the following resources:

  • How to make your Facebook advertising plan impenetrable
  • How to Master Facebook Ad TargetingZero-In on Your Audience
  • How to Master Facebook Ad TargetingZero-In on Your Audience
  • Everything you need to know about Facebook advertising costs and how to maximize your return on investment
  • The following is a step-by-step instruction to using Facebook Business Manager: 5 outstanding Facebook initiatives (and why they were successful)
  • These are 12 Facebook ad examples that you wish you had created.
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What can my Facebook Lookalike campaigns teach me?

Just like any other sort of ad data, you should keep track of how your Lookalike Audience performs and analyze your key performance indicators (KPIs). It doesn’t matter if your campaigns perform similarly to or much better than your past efforts. If not, you might want to think about making some changes (think: pulling back or ramping up your audience size, experimenting with Custom Audiences versus Pixel, etc). In any case, make sure you’re maintaining tabs on your performance indicators. Additionally, you should evaluate not just how well your advertising work in comparison to one another, but also how well they perform in comparison to your organic social media postings.

With a more comprehensive understanding of your Facebook presence, you can more accurately establish your budget in terms of both time and resources.

Are you taking full advantage of Facebook Lookalike audiences?

Lookalike Audiences are a powerful tool for social marketers that should not be overlooked. They can take time to perfect, just like any other sort of advertisement, but they are worthwhile to pursue for the sake of experimenting and reaching new audiences. Now that you’ve learned how to establish a Lookalike Audience on Facebook, it’s important to think about how these types of advertising fit into your overall paid social marketing plan. And if you need to get a larger budget in order to extend your campaigns, we can help you with that as well.

Why Facebook Lookalike Audiences Are Worth Your Ad Spend

13th of December, 202013:31 Lookalike audiences on Facebook are one of the most effective strategies available to any company looking to attract new clients. Find out what they are and how they function. Do you want to increase the number of customers you have? Wouldn’t it be great if you could take use of Facebook’s massive database to locate the individuals who have the greatest likelihood of becoming your customers? Using Facebook lookalike audiences to attract new clients, improve sales and profits, or otherwise develop your business is a simple and effective approach to expand your reach.

It is for this reason that I decided to write this post and teach you all you need to know about how to exploit these audiences most successfully in your advertising campaigns.

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What are Facebook lookalike audiences?

It’s as simple as that: Facebook lookalike audiences allow you to contact potential clients who have qualities in common with your target demographic. Today, this is one of the most often utilized methods by Facebook marketers to broaden their reach and grow the size of their consumer base. What is the procedure? Because of Facebook’s algorithm, it is possible to study and comprehend your company’s target demographic, as well as identify commonalities amongst your existing consumers. Facebook matches individuals with similar hobbies, demographics, age groupings, and other characteristics based on these commonalities.

All that is required is that you choose your source audience.

Then you can specify the appropriate size of your lookalike audience and sit back and watch as Facebook works its magic on your behalf.

Why are lookalike audiences important?

Facebook is the most popular social media platform and one of the largest advertising platforms in the world, with data on a large number of users from all over the world. Facebook is the leading social media platform and one of the largest advertising platforms in the world. It is valuable to be able to leverage this data, and you can do exactly that by targeting high-potential clients among the 2.74 billion Facebook members. This massive volume of data, along with in-depth research, might reveal information about your audience that you didn’t know before.

  1. For example, if you own an eCommerce firm that sells lingerie, who would you anticipate to be your target audience?
  2. However, what if your most valued clients are really males between the ages of 35 and 54 who are purchasing gifts for their girlfriends or wives?
  3. In turn, your cost per acquisition will be reduced as a result of this action.
  4. Furthermore, Facebook’s pixel-based lookalike audiences are routinely updated every 3-7 days by the social media giant.
  5. These audiences will always be up to date with your ever-changing consumer base, which makes them even more potent in their communication with you.
  6. Additionally, when growing your firm into a new region or country, these audiences may be highly beneficial.

This type of audience might serve as an excellent starting point for those venturing into new area.

Interest-based targeting vs. lookalikes audiences

In the case that you have only recently begun advertising on Facebook and do not yet have a large amount of customer data, interest-based targeting is an excellent way to begin looking for your target demographic. You might start by experimenting with different hobbies to determine what works best and helps you build traction. Then, when you begin to expand your client base and amass enough Facebook pixel data from your website, you can scale up your targeting approaches and leverage lookalike audiences to further your reach.

When developing lookalike audiences, Facebook’s algorithm takes into account a variety of factors about your target demographic.

The enormous pool of people examined by Facebook when prescribing a person’s interests is a source of confusion, since there are varied levels of interest in the same issues among them.

However, when Facebook studies only a select group of individuals who you are interested in and extensively analyzes all of their traits, it produces an extremely strong targeting tool for advertisers and marketers.

How do lookalike audiences work?

Many Facebook experts attempt to determine how lookalike audiences are produced, despite the fact that Facebook does not directly address the question since it intends to keep its secrets to itself. The majority of them believe that these audiences are most likely characterized by the following characteristics:

  • Behaviour of users on Facebook and on Facebook’s services, including participation in groups
  • Statistics such as age group and gender are collected, as are page likes, videos watched, and ad engagement. Website activity on websites that have Facebook pixels installed
  • Obviously, there are certain interests.

You’re undoubtedly in agreement that all of these data points can be used to generate a rather accurate user profile, aren’t you? Now that I’ve demonstrated how beneficial these audiences can be, we can move on to establishing your first lookalike crowd for you to use.

How to build a lookalike audience

  1. Navigate to Facebook Business Manager and choose “Audiences” from the left-hand navigation pane. Select “Lookalike Audience” from the “Create Audience” drop-down menu. Select a source audience to serve as the foundation for your new lookalike. Specifically, this will be a personalized audience that is formed based on pixel data, app data, a customer list, offline events, page followers, or those who have viewed your videos
  2. You must now choose the location of your target audience. This might be a single country, a group of countries, or perhaps an entire area. For example, the European Economic Area or the countries that have an iTunes App Store. Also available is the ability to keep a collection of frequently visited spots, which will save you time when building your next set of lookalikes. The last thing you need to decide on is the size of your audience. Specifically, this will be estimated as a percentage of the “population” of Facebook users in all of the places you’ve picked as a whole. At the same time, you may generate as many as six lookalike audiences, each of which can have a different proportion (up to 10 percent). It’s as simple as clicking “Create Audience” And your new lookalike audience is now ready to be used in your next campaign.

Powerful lookalike audiences you should test

The most critical aspect of your lookalike audience is that it is built on a good source audience as a foundation. In order for your source audience to be considered valid, it must consist of at least 100 individuals. Let’s take a look at some bespoke audiences you should consider testing, since they may be quite effective as source audiences from which to create lookalike audiences.

1Value-based lookalikes

The purpose of value-based lookalike audiences is straightforward: to assist you in reaching more people who are similar to your high-value customers. The most fundamental method of explaining consumer values to Facebook is to randomly assign numbers to your customer list. Uploading your client list (as a CSV or TXT file) and include a customer lifetime value field in order to give Facebook with this information is simple and straightforward. Your “large spenders” are an excellent example of a solid value-based clientele that you should target.

However, this audience won’t remain relevant indefinitely, so you’ll need to be sure to keep it up to date on a frequent basis.

courtesy of GIPHY Facebook, on the other hand, allows you to develop value-based audiences using the data collected by your pixels or SDK.

Given that Facebook records all of the purchases made on your website through the use of a pixel, it is quite easy for Facebook to determine the worth of a certain consumer to your business.

2 Video enthusiasts

People who have seen your videos, and particularly those who have watched at least 75 percent of a video you have released, have demonstrated a strong interest in your company and its products. In order to discover potential clients, it is beneficial to create a look-alike audience based on these individuals. Furthermore, you may divide test lookalikes based on the number of people that viewed 50 percent, 70 percent, or even 90 percent of your video content. Even if you don’t have a lot of customer data, video lookalike audiences are a terrific way to get started with audience targeting.

So don’t worry about it too much at night.

3 Website converters

This form of lookalike audience is most suited to profiting from your company’s success because they are similar in appearance. According to this model, it is based on online audience members who have performed a conversion event. Among the various options available are purchase, add to basket, lead, subscribe, and many others. Before you can create these custom audiences, you must first install a Facebook Pixel on your website and configure the conversion events that you intend to track on your website.

4 Email-list lookalikes

Due to the fact that it is practically identical to your existing client list, this is likely the most accurate group to target. As a consequence, it has the potential to produce the finest outcomes for your company. This technique also gives you access to an endless amount of historical data, whereas audiences based on pixel data are only available for a period of 180 days. You would, however, prefer to update this data on a regular basis – such as monthly or quarterly – in order to keep it up to date.

5 Fans of your page

Because it is the most straightforward audience to build, it may be quite appealing. Using your Facebook page likes, it is the quickest and most straightforward approach to capitalize on your page’s popularity and identify people who are similar to your Facebook followers. Furthermore, this audience does not necessitate the creation of a specific audience from which to draw lookalikes. Simple as that. All you have to do is select your page’s name as the source for your lookalike audience, and you’re done.

6 High-intent website visitors

Advertisers sometimes neglect this sort of source audience, despite the fact that it has the highest proportion of “warm” visitors. Lookalike audiences are created using pixel data acquired from your website visitors over a period of time that is determined in advance. The most often utilized time frame is 30 days. You can, however, choose a shorter or longer amount of time, depending on your traffic and your requirements. There are two primary elements to consider while developing this audience: size and demographics.

The time spent parameter is rarely utilized, yet it can be the most effective in determining visitor intent when it is used correctly.

Consider the following example: utilizing the URL of a product page can help you target consumers that are farther down the sales funnel. This is an excellent method of generating a source audience with high potential because it is both large and particular in nature.

7 eRFM audiences

At Madgicx, we utilize artificial intelligence algorithms to construct lookalike audiences based on an eRFM model, which we then market to. It is a highly common model in the area of business intelligence, and I’ll explain why it is so popular. eRFM is an acronym that stands for engagement, recency, frequency, and financial value:

  • Engagement is defined as the amount of intent displayed by visitors to your website. The program categorizes visitors’ activity into two categories: those with a high degree of intent and those with a moderate level of intent. A high level of intent shows that the visitor has taken an action that suggests a desire to make a purchase. Regular visitors who did not express any interest in making a purchase are referred to as “mid intent.” You may follow the activity of your visitors by selecting a recency of 30, 60, or 180 days in the drop-down menu. According on how frequently they visit your website, our program can divide your visitors into three groups: seldom, occasional, and regular visitors
  • Average order value is divided into three categories: low, medium, and high. Each category has a monetary value (AOV). This is broken down by the program, which calculates the pricing of the things that are purchased through your website.
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These audiences assist you in identifying and targeting your most valued website visitors who are most likely to make a purchase. As a result, it should come as no surprise that lookalikes based on these audiences beat lookalikes based on any other audiences.

What is the best percentage for a lookalike audience?

To answer this question, you must first determine the location of the intended destination. Only in this way will you be able to determine the size of your audience. For example, if you choose one percent of the population in the United States, the reach will be 2.4 million individuals. In contrast, if you choose 1 percent in Israel, the reach will be 64.2k, which is obviously significantly lower. Now, it’s vital to remember that while a greater lookalike percentage may result in a larger audience, that audience will be less comparable to the demographic that you originally targeted.

Finally, just like with every element of your Facebook advertising efforts, you will need to experiment in order to find the best solution for your particular organization.

Consider employing audience exclusion if you’re using the same source audience to build more than one lookalike audience in the same area.

The folks in the lower-percentage audience will be excluded from each audience in this manner.

Can you narrow down your lookalike audience with additional targeting features?

Yes, it is possible! As your budget grows and your adverts are shown to a larger number of people, this may become handy. Audience tiredness may develop in this situation, which you would like to prevent. It may be essential to increase the percentage of the target audience or switch to a different source audience in order to accomplish this. It is anticipated that a doppelganger should not be subjected to any age, gender, or interest constraints because Facebook already takes these considerations into account when creating a profile.

Super lookalike audience

It is also possible to enhance your reach while maintaining the quality of your target audience by grouping together a small number of high-quality and low-percentage lookalikes to form a single “super lookalike audience.” Creating all of the different custom audiences stated above will provide you with enough data to determine your top-performing custom audiences if you follow my advice and do all I propose.

These audiences will make excellent seed audiences for the creation of effective lookalike audiences in the future.

After that, you may group all of these new lookalikes together into a single ad set.

Afterwards, experiment with this super lookalike for a period of time to determine which of these lookalikes performs the best. You may then scale the best lookalikes to add an additional layer of optimization to the process.

Conclusion

You should use Facebook lookalike audiences if you want to target your advertising to those who are most likely to become your customers. Facebook lookalike audiences are the most effective tool for this. According to what you’ve seen so far, these audiences take use of Facebook’s algorithm to uncover commonalities among your existing customers and target audiences. Afterwards, prospective audiences that have these qualities are created based on the similarities identified. As a result, lookalike audiences are the most effective approach to make use of Facebook’s information in order to identify those who are most likely to convert.

  • It might be based on your pixel data, a client list, or the number of people who like your page.
  • Later on, you may take use of the scaling tactics I recommended in order to avoid audience fatigue and to scale your successful ads as they grow in popularity.
  • Yuval Yaary is an Israeli actor and director.
  • He enjoys providing helpful information for online advertising in order to assist them in improving their performance.
  • He considers content development to be an art form that must be executed with meticulous attention to detail and extreme precision.

Intro to Facebook Audiences

Because Facebook has more than one billion daily active users, it’s vital that you just target individuals who are likely to be interested in your product and not everyone else. A wide range of targeting choices are available through Facebook advertising, including many audience options that allow you to target the readers who are most likely to convert, regardless of whether or not they have previously connected with your company. You’ll learn the following in Chapter 5:

  • How to establish Facebook audiences
  • How to utilize saved Facebook audiences
  • How to use saved Facebook audiences Learn how to deal with bespoke audiences and how to work with audiences that look like you.

The reach, data, and algorithms available on Facebook go farther than those available on nearly any other network in terms of enabling you to target your ideal audience. All that remains is for you to figure out how to locate your golden needle in the haystack that is Facebook. You’ll be well on your way to establishing your future consumer base once you’ve mastered these audience kinds and targeting possibilities.

How to create audiences on Facebook

A Facebook audience refers to the groups of individuals who see your advertisements on Facebook and click on them. Through the Audiencessection of your Ads Manager, you can create or change these audiences. Audiences may be found by navigating to yourAds Manager, clicking the nine-dot symbol in the top-left corner, and then selecting Audiences. Source You now have the option of selecting the type of audience you wish to attract. Special Ad Audiences are one of four choices available on this page; nevertheless, most advertisers do not use Special Ad Audiences.

Source Continuing on, we will introduce you to the additional choices on this page that might assist you in creating targeted audiences on Facebook in the sections that follow.

  • Saved audiences are audiences that have been created by including or excluding people on Facebook based on common demographics, interests, or activity
  • They are also known as custom audiences. Custom audiences are defined as those that are based on data from offline customer lists or online interactions with people who visit your website, app, or Facebook page
  • They can be defined as follows: Viewers that have never engaged with your company, but who Facebook feels are similar to one of your active custom audiences, are referred to as lookalike audiences.

Saved audiences with detailed targeting

Users can be targeted depending on their age, location, hobbies, gender, and other characteristics that have been saved as audiences. Instead of just promoting to everyone, you may target your ads to the individuals who are most likely to respond to your message. You may utilize saved audiences to target kids who commute to school every day, teachers who enjoy coffee, or international students whose first language is not English.

How to make a saved audience

Starting with the Audiencessectionof your Ads Manager and then clickingCreate a Saved Audience, you may begin creating your first saved audience in no time at all. Source When filling up your stored audience, you may choose from the following options:

  • Add a name to the audience
  • Exclude or include custom audiences
  • And more. Specify a location
  • Include age ranges
  • Prioritize persons based on gender
  • And select people based on language. Add a connection to your page, such as “People who have liked your page.” Make use of precise aiming

Once you’ve finished customizing the other parameters, we’ll take a deeper look at how to take your audience to the next level by using stored audiences in more specific ways.

Narrowing your saved audiences with detailed targeting

Targeting individuals based on their demographics, hobbies, and activity helps you reduce the scope of your intended audience by adding or excluding people depending on specific characteristics. By adjusting for these variables, you may limit down your ad audience to the most qualified prospects. Before you begin, it might be beneficial to familiarize yourself with your options by selecting theBrowsebutton located on the left-hand side of theDetailed Targetingmenu. Source Then you may start looking at the various demographics, hobbies and behaviors that you might want to include or omit from your target group.

Source We targeted users who fit the following criteria for this saved audience:

  • Taking the bus to school
  • Do you have a connection to Harvard University? Are interested in coffee
  • Do not work as educators

We are hoping that this type of audience would be interested in stopping by our business on their way to class to take advantage of a promotion. We have removed instructors from this audience in order to be able to design our advertisements to particularly talk to pupils. Another option is to create a distinct Saved Audience for the purpose of targeting instructors at a later time.

Facebook custom audiences

Custom audiences on Facebook are groups of people you may create based on information you collect offline, on your website, or on your Facebook page. Custom audiences are created from people who have already interacted with your company, as opposed to saved audiences, which are created by searching for people who have similar characteristics. It is possible to retarget prior website visitors and users who have interacted with your content or app by using this audience segmentation technique. You may create a custom audience by selectingCreate a Custom Audiencefrom theAudiencesmenu and entering the information about the audience.

Source Facebook Sources will be the most convenient option for many individuals because Facebook already provides all of the information you want.

For example, you might selectVideos and re-target advertisements to those who have seen 50% of one of your most popular videos, if that is the case.

Source If you are interested in creating bespoke audiences based on data from your own website, you will need to install a Facebook pixel on your website.

Read on to find out more about Facebook pixels and what they can achieve for your Facebook advertising campaign in our Comprehensive Guide to Pixels. If you’d want a more in-depth look at how to create custom audiences on Facebook for each source, check out our Beginner’s Guide to Custom Audiences.

Facebook lookalike audiences

Lookalike audiences on Facebook are audiences that are based on consumer interactions, pixel data, or bespoke audiences that you have already created. In contrast to bespoke audiences, which are people who have already interacted with your brand, lookalike audiences are people who are similar to your current users and are not targeted by your brand. It operates in the following way:

  • Custom audiences are created depending on the people who have interacted with you
  • In order for Facebook to locate people who are similar to the people in your custom audience, you must first build a lookalike audience. You may tell Facebook how similar you want these folks to be to your bespoke audience by telling them how similar they should be. Ads should be targeted at your brand new lookalike demographic in order to begin moving these folks to the top of the sales funnel.

In part, this is because lookalike audiences allow you to contact people who are similar to the people in your existing customer database. Essentially, if something works for your current consumers, it should work just as well for everyone else who is similar. When you are in the Audiencesmenu, select the optionCreate a lookalike audience from the drop-down menu that appears. Source After that, you may choose the data source on which your new audience will be based (pixel data, current custom audiences, Facebook Page data), the location of your new audience, and how close you want your lookalike crowd to be to the original data (the more similar the better).

In the case when you already have a loyal client base of people who are enthusiastic about your products, it seems reasonable that you would want to promote to other people who have similar interests to yours.

Use Facebook Lookalike Audiences to Scale Your Facebook Advertising

Advertisers may choose from a broad variety of targeting options on Facebook. On the one hand, the sheer number of alternatives available can be a gift in disguise, since it allows advertisers to target their audiences more precisely on Facebook than they can anywhere else. If you already know who you want to target, it’s a veritable gold mine of opportunities. Because it’s quite simple to squander ad spend testing various targeting combinations in an attempt to find the best-performing audience groups, the enormous number of alternatives may appear to be more of a curse for marketers who are less certain of their strategies.

Check outLooking At The Numbers: How to CalculateLeverage LTVfor additional information on how CLV might benefit your company’s profitability.

What is a Lookalike Audience?

Using lookalike audience targeting, you may target people who are the most similar to your existing users in the hopes that they would convert more often. You essentially load a list of your best customers (referred to as a source list) into Facebook and then sit back and let the algorithm locate new individuals who are similar to your existing customers. Facebook’s algorithm for creating Lookalike audiences sifts through the data it has about your source audience in order to identify patterns that exist between the source audience and the rest of the Facebook user population.

Many aspects of the information that Facebook gathers are taken into consideration by this algorithm, information that goes beyond simple user input data and includes inferred features as well.

A bigger Lookalike audience of people who most closely match the patterns observed in the source audience is then created by Facebook by extrapolating the patterns identified in the source audience.

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For the most part, we’ve spent millions of dollars testing different targeting methods on Facebook and discovered that, for the vast majority of companies running performance-driven advertising, Lookalike audience targeting outperforms everything else in terms of return on investment (efficiency) and audience reach (scalability).

How Facebook Lookalike audiences work

A source audience, or the group of people you want the audience for your campaign to resemble, is the first stage in creating a Lookalike campaign. For this, you’ll need to first build a specific audience. You may create this audience by adding your client database or by tracking the amount of traffic that comes to your website or application. Always remember that in order to serve as the foundation for a Lookalike, your custom audience must comprise more than 100 people from the same country who have Facebook accounts that match the uploaded data (see below for an explanation of match rates).

Take note that it might take anywhere from 6 to 24 hours for your Lookalike audiences to be generated, and that the audience’s data will be refreshed every 3 to 7 days as long as you continue to target advertisements to it.

Maximizing Results with Lookalike Audiences

While the process of creating a Lookalike audience is very straightforward, there are certain essential methods that may help you get the most out of your Lookalike audiences.

Choosing Your Source

The first thing to consider is where you will find the folks who will make up your target audience. In addition to the methods previously discussed, you can upload a customer list of email addresses or phone numbers, create a website custom audience (WCA) based on a Facebook pixel that tracks the behavior of visitors on your website, create an audience using events in your mobile app (including Instagram), or create an audience using fans of your page. Facebook will automatically match the e-mail addresses and phone numbers you provide to the associated Facebook accounts when you upload client lists to the social network.

As a result, you’ll want to make sure you submit a large enough list to allow for the possibility of a match rate that is less than 100 percent.

And, as previously said, you must have at least 100 consumers that fulfill your criteria in order to develop a credible source audience.

Via audiences built using the Facebook Pixel or app events will immediately refresh your seed audience, which is a positive.

However, one significant disadvantage of utilizing pixel or app events as your source is that it will only record consumer information once it has been integrated into your site, which means it will take some time to create an audience if you do not already have a pixel on your site or mobile app (depending on your sales volume).

As a result, if you haven’t previously advertised on Facebook, employing the pixel or app events to grow your audience may not be a realistic alternative at first glance.

Source Audience Size

The second thing to consider is how large you want your seed audience to be. This is a personal preference. As previously said, the bare minimum is 100, but you should strive for considerably more than that in terms of size. If you provide Facebook with additional data points, it will be able to create a Lookalike audience that is more comparable and of higher quality. However, an excessive number of data points might actually result in pattern erosion. Facebook recommends an audience size of 10,000 to 50,000 people, however we’ve found that better quality audiences in the 2,000-5,000 range have had more success with our campaigns.

Seed Audience Segmentation

You could think that creating a master list of all of your customers’ email addresses and phone numbers, using it as your seed audience, and calling it a day would be sufficient, but you’d be leaving a lot on the table. When it comes to seed audiences, quality is equally as essential as quantity, and segmenting your audience may help you attain both better quality audiences and a wider audience reach. Typical scenarios include the top 20% of a software company’s users accounting for 80% of total revenue and the bottom 20% accounting for 20% of revenue.

Then you’ll be able to target people who appear to be the most like top customers – people who are more likely to not just convert at a faster rate, but also to have a higher lifetime value for your company (LTV).

In order to optimize your cost per acquisition in relation to user value, you may assign larger budgets and place higher bids for more valuable audiences while allocating proportionately smaller budgets and placing lower bids for segments that generate less income.

For example, a Lookalike audience with a source audience of 10,000 will have a reach that is only a fraction of the size of four Lookalike audiences based on source audiences of 2,500 (although those audiences will be slightly less than four times as large due to audience overlap – see below for more information on how audience overlap is calculated).

Similarity vs. Reach

Having determined your source audiences, the next question is whether you should prioritize similarity or reach when targeting them. When creating Lookalike audiences on Facebook, you have the option of selecting a sliding scale of resemblance ranging from 1 percent to 10 percent. If you choose a percentage, it represents the proportion of Facebook users who are most similar to your source audience, represented as a percentage of the entire Facebook population (by country). In the United States, for example, a 1 percent Lookalike generally has a reach of around 2 million individuals (20 million for a 10 percent Lookalike).

In terms of reach, the interesting thing to note is that no matter how huge your source audience is, the reach of the resultant Lookalike audience will be approximately same in size.

The quality of the Lookalike audience will, however, be significantly greater with a source of 5,000 people, despite the fact that the reach would be the same in both circumstances.

When developing your Lookalike approach, always start with a 1 percent audience because it will be the most relevant to your campaign. As each audience fulfills your efficiency targets, you may gradually increase the percentage of Lookalikes in your audience.

Creating a Hierarchy: Nested Lookalikes

Once you’ve created your Lookalike audiences and are ready to begin incorporating them into your ads, you’ll want to eliminate other Lookalike audiences from your calculations in order to arrive at the marginal reach for each group of people. The fact that Lookalike audiences are so huge means that there’s a significant probability that the same Facebook users may appear in multiple separate audiences. You don’t want to mistakenly target the same person with more than one campaign, otherwise you’ll end up bidding against your own campaign.

  1. This can occur when you build many Lookalikes from audiences that are similar to one another.
  2. The Facebook Audience Overlap Tool allows you to check how much overlap there is between two different audiences.
  3. While it is usual practice to categorize Lookalikes according to their likeness, it is equally vital to categorize them according to the quality of the source audience.
  4. Using this method, you may target each new audience based on its own merits rather than competing with the audiences you already know to be of better caliber.
  5. You should avoid competing with yourself for members of your best quality Lookalike audiences, and you should make sure that when you add more Lookalike audiences, all of your ad spend adds to net new reach for your campaign.
  6. However, it’s vital to realize that, over time, your new Lookalikes will begin to have less and less marginal reach as a result of the overlap in their target audiences.
  7. Facebook Lookalike audiences, in contrast to conventional performance marketing, contradict the notion that it’s preferable to define and segment as much as possible in order to optimize at the granular level.
  8. This might be difficult to accept for performance marketers who are striving to squeeze every last drop of efficiency out of their campaigns.

In comparison to manually generating and testing various targeting combinations, lookalike audiences are an excellent approach to expand Facebook advertising lot more efficiently and fast.

Learn more about customer LTV and customer-centric modeling from a true expertin our on demand event featuring Wharton professor and Theta Equity Founder Peter Fader.

In order to establish an idea of the usual audience your advertising would reach, Facebook may leverage its knowledge of people on their platform, as well as their ‘likes,’ to gather information about them. When it comes to Facebook, targeting is done at the ad set level, and there are three sorts of targeting choices to pick from – Core Audiences, Custom Audiences, and Lookalike Audiences – to narrow down your audience.

Core Audiences

Facebook Core Audiences enables advertisers to select the most appropriate recipients for their advertisements in a few simple steps. You may target individuals based on their age, location, hobbies, or anything else you choose, and leveraging Facebook’s core audiences can help connect your organization with people who are likely to be interested in helping your goal succeed. On the basis of the following criteria, core audiences can potentially be as large or as narrowly defined as you would like: To view the full-size image of Facebook audience targeting, click here.

  • Geographical reach– reach out to individuals in the cities, towns, and nations where you will be able to receive assistance.
  • Essentially, this is the same as Google location targeting, but with the ability to target individuals where they are at any given time, whether they reside in that particular place, are new comers, or are simply visiting.

Select your target audience depending on their age, gender, education, relationship status, work title, and other characteristics.

  • Included in this category is any publicly available information regarding schooling, political beliefs, family/relationship status, life events, job, and other topics. This information may be found largely in the ‘About’ portion of a person’s profile
  • However, it can also be found in other sections of the profile.

Choose the interests and hobbies of the individuals you wish to target and tailor your message to them.

  • This covers their hobbies, activities, favorite Pages and posts, posts and comments they make, and subjects that are closely linked to their interests.

People are chosen based on their previous buying patterns, device usage, and other activities, among other things. Contacting individuals who are already linked to your Facebook page or event (or excluding them to identify new audiences) is easy using connections.

Custom Audiences

Custom Audiences on Facebook allow you to create ad campaigns based on consumer data that you already have on hand, making it simple to reconnect with individuals who have previously expressed an interest in your organization or product. When you use this sort of targeting, you can strengthen your existing relationships while also encouraging further support by reaching out to your existing contacts both on and off the social media platform. Custom Audiences on Facebook may be created using the following information, according to Facebook: To view the Custom Audience upload in its entirety, please click here.

  • Using information from your CRM system or customer contact lists (such as phone numbers or email addresses), you may establish a connection with contributors and contacts on Facebook. It is possible that Facebook will locate accounts that match the information you supply, but they will not reveal the specific profiles that match
  • Using the Facebook Pixel, you may generate an audience of people who have visited your website if you have the Facebook Pixel installed on your website. You may even use this information to offer them advertisements for products and services that they have already expressed an interest in on your website.
  • If your nonprofit has an app, you can use the Facebook SDK to build an audience of individuals who use your app, which you can then use to entice them to return or donate again
  • If your nonprofit does not have an app, you can use the Facebook SDK to build an audience of individuals who do not use your app
  • And if your nonprofit does not have an app, you can use the Facebook SDK to create an audience of individuals who do not use your app

Lookalike Audiences

Using Facebook Lookalike Audiences, your non-profit may connect with people on Facebook who are similar to your existing donors and supporters. Lookalike Audiences are a Facebook advertising feature that allows you to contact individuals who are similar to those who have already engaged with you based on the insights obtained from past Facebook advertising projects. In particular, Facebook’s’Audience Insights’tool will assist you to have a better understanding of who is seeing your advertisements.

Facebook Audience Insights aggregates attributes about your supporters, such as their interests and behaviors, which can then be used to find new audiences who are also interested in supporting you.

Always remember that when utilizing Lookalike Audiences, the source (or seed) audience you choose will inform Facebook what characteristics you’d want the Lookalike Audiences to have in common.

Your target audience size is represented on a scale of 1 to 10, and it indicates the proportion of the overall population of a certain region that you are requesting Facebook’s matching algorithm to match with your source audience.

The goal should be a larger audience in the range of 6 to 10 people if you want to extend the possible reach of your campaign while also giving up certain particular similarities between your Lookalike Demographic and the original target audience.

If you have any questions about Facebook ads targeting, or would like Cause Inspired Media to manage your Facebook advertising,contact us today!

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