The ins and outs of Facebook Lookalike Audiences
This month, we dive into Facebook Lookalike Audiences! Get ready to learn what Lookalike Audience is, why you should use them, and how to set them up as well as video training on how to utilize for your Facebook Ads!
The Lookalike Audience is an excellent resource you can take advantage of in your Facebook Ads Manager. Easy to set up and very powerful, they take the guesswork out of finding a new audience to target. As you have experienced firsthand, Facebook has lots and lots of data on us through our personal profile info such as age, cities lived, family members, likes, etc. However, there is also additional information provided to them by the actions we take on the web and their platforms. For example, Facebook is tracking what brands we engage with, videos we watch, sites we visit, and purchases we make. If a website you click on has a Facebook tracking pixel installed and you are signed on to your Facebook page, then your data is being tracked for that business to use in their marketing. Why this is so powerful is because a large amount of data analyzed will show similarities between a brand’s customers. For example, if you own a restaurant, Facebook analyzes your website users and identifies in the data that your clientele also shops at Wholefoods, a most common profession, most popular car brand, etc, these attributes help Facebook find similar users with the same interests that might also be a good fit for your brand.
- To create a Lookalike Audience you will need to set up your Custom Audience, which we covered in July’s blog. The Custom Audience is the source audience for creating your Lookalike Audience. So that we are all on the same page, your source audience is the audience used to create your Lookalike Audiences such as website visitors, an email database, users that have engaged with your Facebook or Instagram page. Here are a few notes to consider when creating your Lookalike Audiences:
- Your Lookalike Audience is only as good as your source audience. For example, a Lookalike Audience created from your entire email database is great, but a Lookalike Audience created from people who purchased may yield stronger results when it comes to converting sales.
- Your source audience must contain at least 100 people from a single country. However the more the better, more data will give them a better idea of common attributes.
- Lookalike Audience will exclude your source audience except when creating your Lookalike Audience from your website pixel.
- Up to 500 Lookalike Audiences can be created from a single source audience. Multiple Lookalike Audiences can be used at the same time for a single ad set. The ad will target your ads to people who are in any of the selected Lookalike Audiences
Ok, let’s set up the Lookalike Audiences! Check out my video on how to set up your Lookalike Audiences or follow the steps below.
- Log into your Facebook Ads Manager
- Select ‘Audience’
- Select ‘Create Audience’
- Select ‘Lookalike Audience’
- Select your ‘Lookalike Source’, this will be one of the Custom Audiences you have already set up. Alternatively, you can choose to create a Custom Audience if you haven’t set them up yet.
- Select an event with ValueValue, you can select ‘Purchase’ or another event with ValueValue. Choose from a drop-down menu (this is only on the website traffic source list).
- Select a location (region or country/ies)
- Select the Audience Size and number of Lookalike Audiences. The audience size is shown in percentages: 1% will 2,500,000. The more you increase the percent, the larger the audience will become; however, it reduces the quality of your Lookalike Audience. In essence, the larger the list gets, the less common traits the users will have to your current customers.
And that’s it! You’re ready to use your Lookalike Audience(s) in your next ad campaign. Hope this helps. As always, reach out if you need help to set up your different audiences. We are available for monthly retainer work or by the hour. For more resources, check out the video training below. Be sure to also visit our YouTube account for more video training on topics such as the Facebook Business Manager, Custom Audience, and more.