Are you leveraging Facebook Ads to generate leads but they are unable to yield desired results? What is the reason behind the low click-through rates of Facebook ads? Well, the prime reason is the wrong audience. If your ads are shown to the wrong target audiences who have no interest in your products/services, you won’t be able to witness positive results. So, you need to target your Facebook ads to the right audience. For that, you can follow the custom audience technique. An even better technique is the Facebook lookalike audience. What is Facebook lookalike audience and what are the best ways to leverage it? We’ll discuss all these points in this post. So, settle down and read!
Facebook Lookalike Audiences: Technique and its benefits
Facebook Lookalike Audience is a tried-and-tested concept to make the most from Facebook ads. Through this technique, you can target audiences that are similar to your existing customers. Facebook’s algorithm is used to create a Facebook lookalike audience by finding secret or unexpected commonalities between the audience and your customers. This technique has a higher probability of conversions as it generates high-quality leads thereby allowing you to maximize ROI on Facebook ads.
A Facebook lookalike audience is generated in line with the source audience or seed audience. In order to create seed audience, you can adopt the following methods
- You can use your customers’ list or newsletter subscription list
- You can create a custom audience list by getting details of your website visitors. However, you’d need Facebook Pixel for the task. Using Facebook pixel, you can easily create a list of visitors who browsed your websites and those who made a purchase.
- In case you have a dedicated app, you can use Facebook SDK event tracking to find details of users who installed the app and users that performed other activities like ‘added product to cart’, achieved a level’, etc.
- You can also create a list of the audience on the basis of your engagements in various social channels. The list would include users who engaged with your posts, videos or Facebook page.
- In addition to online users, you can also create a list of source audience by including those people who connected with you in person or via phone call.
Benefits of Facebook lookalike audience
A Facebook lookalike audience is much effective than the custom audience in many ways. Basically, there are better chances of conversion in the case of a lookalike audience. You will find the audience whose interests resonate with your existing customers. You’ll be able to customize the user experience as you’ll target to find unexpected and secret commonalities between audiences. With personalized campaigns, you are more likely to witness a rise in the overall conversion rate.
When you target at Facebook lookalike audience, you’ll be delivering the right message to the right people. This can create a huge difference and generate high-quality leads. By creating an audience similar to your customer base, you’ll be able to get more newsletter subscribers and a large number of new customers. You can constantly build your audiences through Facebook ads. With the growth in your audience, Facebook’s algorithms will be able to predict potential buyers with more accuracy.
How to use Facebook Lookalike Audiences
Just like the custom audience, you can create a Facebook lookalike audience in a few minutes. You just have to follow few simple steps.
- Firstly, you’ll have to navigate to ‘audiences’ section in the Facebook Ads Manager
- Then, you have to click on audience and select the option of Lookalike Audience
- Next, you’ll have to select your source audience. (Source audience refers to custom audience that you can create from app data, Pixel or from customers’ information) The source code should include at least 100 individuals from a country.
- After that, you’ll have to select the countries or areas that you intend to target. It will help in determining the geographical location of the Lookalike audience. Hence, it adds geo-filter
- Then, you’ll be prompted to choose the size of the audience, which is expressed on a 1-10 scale. In the scale, small numbers denote high similarity while large numbers will be good for the overall reach. Once you choose a size, Facebook will show the possible reach of that audience size. It will generally take less than 24 hours to create Facebook Lookalike Audience.
- To create an ad, you’ll have to navigate to Adverts Manager and then select Tools. There, you’ll have to click on Audiences to check if the list of Lookalike audience is ready. When that’s done, you can choose Create Advert option.
Tips to leverage Facebook Lookalike Audiences to the fullest
By now, you must have understood how to create a lookalike audience. However, this tool isn’t as effective as people think it is unless it is used properly. Of course, it works differently for each business, but the overall idea is the same. Using lookalike audience on generic website visitors won’t be as effective as creating a lookalike audience from buyers or people who had converted on your site. In addition to this quick tip, there are many other tips to leverage the lookalike audience. Some working tips given by Nsouly.com are:
1. Source audience should match with your end goals
In order to ace Facebook ads with a lookalike audience, you must choose the right source audience. The custom audience should match with your goals. For instance, if your goal is to elevate your sales, then you should create a lookalike audience by using website visitors as the source audience.
2. Test the size of Facebook lookalike audience
Don’t follow a one-size-fits-all philosophy while choosing the audience size. Instead, you should be open to experimentation in terms of your audience size. You should consider different audience sizes based on the goals of the campaign.
The audience with smaller sizes ranging from 1-5 in scale will have more similarity with the custom audience while the audience with large scale sizes ranging from 6-10 will have a higher reach. So, you should choose the scale on the basis of the goal. For instance, if your goal is to reach maximum masses, you should use a large scale.
3. Experiment with custom audience
As stated earlier, different campaigns have different goals. So, you should use different parameters to create different varieties of custom audiences aligning with the goals of the campaign. Here are some examples to follow:
- If the goal of the campaign is to increase your sales with better conversions, you should create a custom audience with website visitors in a month or those who have products in the cart.
- If you are planning to increase your subscribers or running a campaign bossed on content similar to newsletters, you can create a custom audience with email lists.
- In the case of a video-based campaign, you can target individuals that engaged with your videos in the past.
4. Audience list must be up-to-date
The sentiments and needs of individuals change from time to time. So, you cannot rely on the old list to generate high-quality leads. In case you are providing information of your customers, you should ensure that the list is up-to-date. In case, you are using Facebook data to create a custom audience, you should use date range parameters. For instance, if you are creating a custom audience with website visitors, you should include those that visited your website in the last 30 days.
5. High-quality data
Remember, you should not give importance to quantity but to the quality of data. Hence, you should supply high-quality data. Instead of data of 5000 customers, it is far better to create an audience of 1000 loyal customers. You should also avoid creating broad audience groups like ‘all visitors’, as most of them will bounce back. Hence, you should carefully choose the metrics to find the best customers.
6. Optimize Facebook lookalike audience for right locations
If you wish to expand in global markets, you can leverage lookalike audiences for that. You can create a lookalike audience in emerging markets if you aim at global domination. On the other hand, if you want to target in a particular location, you can customize your Facebook Lookalike Audience accordingly. You can also customize the audience based on age, gender and other parameters.
7. Customer Lifetime Value Audience
The customers are at the heart of every business. So, creating a custom audience based on customer lifetime value is a great option. It can allow you to segregate big spenders, average spenders, and low spenders. Customer Lifetime Value customer audience is a great option for those businesses that have long-term transactions and engagements with the customers.
So, these were 7 stellar tips given by Nsouly to make the most from Facebook lookalike audience. You can try some or all of them to witness a better conversion rate in your Facebook Ads.