Benefits of Facebook lookalike audiences
Facebook lookalike audiences can enhance your social media marketing strategy by allowing you to find new customers and market to individuals similar to your existing audience. A few benefits of using lookalike audiences include the following:
Increases reach and engagement
The main purpose of Facebook lookalike audiences is to increase reach and help you find new customers by targeting individuals similar to your source audience and existing customers.
But now, you can find new users to advertise to without additional effort, allowing you to make the most of your social media marketing efforts in less time.
Improves ad targeting
Lookalike audiences improve audience targeting because they are similar to your existing customers. Think of lookalike audiences as warm leads. You already know you have a target market, but you might not know how large that target market really is.
Luckily, by using your existing customers as a source, Facebook can help you find new customers based on similarities.
Lookalike audiences on Facebook allow you to maximize your marketing spend by protecting you from investing in the wrong audience.
In addition, since your lookalike audience is similar to your customers or source audience, you won’t risk accidentally targeting individuals less likely to purchase your products and services.
Better conversion rates
Using similar audiences increases your ad relevance, which can positively impact your ad conversion rates. Since you’re only targeting those with similar characteristics to your real customers and other successful audiences, you can avoid targeting individuals who won’t convert.
Best practices for using lookalike audiences in ad campaigns
Using lookalike audiences in ad campaigns is ideal for businesses that want to maximize their ad spend and reach new customers. Here are a few best practices to help you make the most out of these new audiences:
Choose the right source audience
Your source audience determines your lookalike audience, so you should ensure your source audience consists of individuals most likely to purchase your products and services. Uploading your customer email addresses is one way to create a lookalike audience, and it’s effective because you already know these people are interested in your offerings.
You can also target individuals who visited your website, performed an action in your app, and engaged with your brand offline. You can also use your editing audience data from Facebook as a source audience, targeting individuals that have recently interacted with your brand.
Use multiple source audiences
Using multiple source audiences can make your Facebook lookalike audiences more targeted based on the similar characteristics of each group.
For instance, you can upload prospect information for individuals who have interacted with your brand offline and use Facebook audience data to create a new lookalike audience using similar characteristics from both groups.
Monitor your campaign
Monitoring your campaign is crucial. While lookalike audiences can help you attract and convert individuals interested in your products and services, it’s not a perfect strategy. You should start with a successful source audience, which requires you to test ads and monitor their performance with the source audience first.
Then, once you know you’re using a successful source audience, you should continue to monitor your campaign performance. Facebook ads can be updated in real-time based on insights, allowing you to determine whether you need to add or remove additional targeting filters.
Test and optimize your ads
A/B testing your lookalike audiences using the same ad for each one allows you to determine which audience is the most effective. You should also A/B test your ads to ensure you’re using the best version of each, helping you increase conversion rates while boosting brand awareness.
Leverage Facebook lookalike audiences to boost your ad campaigns
Facebook lookalike audiences can enhance your ad campaigns by leveraging existing customer and audience data to target new audiences.
A comprehensive social media marketing strategy focuses on attracting new customers and retaining existing ones. You can create more effective marketing campaigns with Mailchimp.
Mailchimp data integrates with our Facebook advertising tool to help you effectively target your contacts and use them as a basis for lookalike audiences. Try Mailchimp today and take your ad campaigns to the next level.