What are Lookalike Audiences?
Lookalike Audiences allow you to reach new individuals who are similar, and “look like” the audience you are creating them from. You can creative LALs from various source audiences, including fans of your page, your existing customers, people who have visited your website, your existing email database, etc. Facebook looks for common qualities (including demographics and interests) in the source audience and matches users to create your LAL.
Lookalike Audiences can be built based on various degrees of similarity to the source audience, from 1% - 10%, with 1% being the closest match to your original source audience.
As a general rule of thumb, Lookalike Audiences that are more similar to the source audience are more valuable. However, this is not always the case and less similar audiences should also be tested. The less similar the Lookalike Audience is, the greater the potential reach, i.e. a 5% similarity match has a greater potential audience reach than a 1% similarity match, but is less similar to your source audience.
Consider the quality and type of user of your source audience that you are using to create LALs. Would you rather create an audience who look like any of your customers, or those high lifetime value (LTV) customers? Similarly, a Lookalike Audience of all of your website visitors or those who have completed a desired action on your website?
How to create a Lookalike Audience
To create a LAL:
- Click on the “Audiences” tab in meedee8
- Click on the blue “Add” button, and then “Custom audience” from the drop down
- Select “Lookalike Audience” under “Type”
- Enter a “Name” for your LAL
- Choose a source for your LAL
- Enter the “Country” you will be targeting
- Choose the % similarity to your source audience
- “Save” the Lookalike Audience
Lookalike Audiences can take up to 24 hours to populate before they are ready to be used in ad set targeting.
The minimum size of the source audience for creating a Lookalike Audience is 100 people. It is also important to note that the larger the source audience is, the more data Facebook has when finding people who look like that audience.
Popimedia Top Tip
Create a number of Lookalike Audiences from the same source audience with varying degrees of similarity. For example, a 1%, 3%, 5% and 7% similarity to the source audience. Test each audience in their own dedicated ad set.
Don’t forget to exclude the lower audiences from the higher audiences when setting up the ad sets, i.e. exclude the 1% LAL from the 3% LAL, and the 1% and 3% LAL from the 5% LAL, and so on. This will help ensure that you are not duplicating your reach.