Facebook cannot sit still this year! They again have introduced a new feature, this time directed to all brands/marketers.
Are you ready? Drum roll please…
LOOKALIKE AUDIENCES – A new way to reach potential audiences
For marketers, getting the right messages in front of the right audience/target market is essential. Facebook is here to make your marketing just that little bit easier on its site. In March, Facebook announced its global roll out of lookalike audiences, a targeting feature that helps advertisers reach new customers and grow their businesses.
What exactly is Lookalike Audiences?
The Lookalike Audiences features will help advertisers broaden their base of potential customers and grow business through reaching users who share similar characteristics to their existing customers.
Lookalike Audiences will work off of another targeting tool called custom audiences. Custom Audiences allows advertisers reach Facebook users whose information is already in their databases. You can use such things like email addresses, phone numbers, & Facebook user ID’s to reach a specific audience. With lookalike audiences, Facebook can use attributes like interests or demographics and show ads to people who share the same traits as their existing clientele
However Facebook users privacy is still well protected (some could argue) as this feature does not allow advertisers to collect private information off their new group of users their ads are reaching. So privacy remains protected but still has its advantages for better targeted advertising for marketers.
Facebook were nice enough to answer the crucial questions on their blog.
How to create a lookalike audience?
- Go to Power Editor and select the ‘Audiences’ tab
- Create a custom audience using a list of email addresses, phone numbers or Facebook user IDs in
- Select this custom audience and click ‘Create Similar Audience’
- Choose the country where you’d like to find a similar set of people and select whether you want to optimise for similarity or greater reach
- Click ‘Create’
Do I need to create a custom audience to build a lookalike audience?
Yes, a lookalike audience must be built from a custom audience. The custom audience should be composed of people who have taken the action you’re trying to achieve with your lookalike audience. For example, if you want to more people to purchase a particular product, upload an audience made up of people who have bought that product, or similar products, in the past. To make the Lookalike Audiences feature more accurate, Facebook suggests that you need to have a custom audience base of at least 500 people.
Can I build a lookalike audience of the people who like my Page?
No, it is not not possible to build a lookalike audience of the people who like a Page.
Can I use Facebook targeting in addition to a lookalike audience?
Yes, you can use Facebook targeting in addition to a lookalike audience. Once you’ve created your lookalike audience, you can narrow your targeting with additional demographics or interests when you create your ad.
Overall Facebook Lookalike Audiences will improve brand awareness, add fans to business/brand pages and result in better ROI.
This feature will be available in power editor starting this week.