Today we will explain to you what is Facebook Lookalike Targeting and we will discuss how it can affect your e-commerce business in the best way possible.
You already have a campaign but you don’t know how to increase your number of visitors, purchasers, etc. on your website? You’re thinking about the best way to show your ads in front of the right people? Stay with us and you will learn more Lookalike Targeting.
In our previous blog where we talked about ads auctions on Facebook we mentioned the best way to get broad audience for your business. That is Facebook Lookalike Targeting. What exactly is that and how does it work? You give Facebook a seed audience and it tries to find people who look like that seed audience. Simple as that.
How does Lookalike Targeting work?
It is very meaningful for your business because it gets you a lot of potential new customers. It works on many characteristics like demographic, age, location, behavioral traits, and so many other factors and that’s how you get a broader lookalike audience. This type of targeting searches people who behave in the same way like your seed audience, and these people probably have never heard about you or been on your site which is even better. You get new audience however.
Frankly, it’s not enough to have one good lookalike audience. What the best advertisers do is they have many lookalikes running at the same time. These lookalikes are based on many different seed audiences.
But then, if you’re asking yourself how to know which one is the best? Well, the best lookalike audience is the one that is based on your exact desired user. If you have an e-commerce company, your exact desired user is going to be your existing purchaser, and if you upload your existing purchasers, Facebook is going to look for people who are similar to them. And they are most likely to be your next purchasers.
Which lookalike audience has more value?
However, some seed audiences are far more valuable than others. For instance, in your e-commerce business, lookalike based on purchasers is far more valuable from lookalike based on your site visitors. But this doesn’t mean that site visit lookalikes will not bring you potential clients.
We already mentioned that the best advertisers run many lookalikes at the same time. They upload lookalikes based on exact desired users but also lookalikes based on certain proxies.
They can be divided into groups:
- lookalikes who clicked or visited the site
- lookalikes who added to cart but didn’t purchase
- the ones who purchased
- lookalikes who spend a lot of time on site
- lookalikes who watched videos in your ads
- your Instagram followers and Facebook page fans
- high value lookalikes etc.
Which audience is the best to start with?
People who are in the beginning of realizing their businesses usually have a problem with lack of historical data and due to this can’t make a good lookalike audience. In this case it’s better to start with audience based on demographic factors. After some time, when you have enough people that clicked on your ad, watched a video you can build a lookalike audience based on that.
Also, when you have enough people who added to cart then you build a lookalike off of that. Eventually, you will have people who have purchased your product and you can make a lookalike based on that. In the beginning you can’t start with best potential lookalikes when you don’t have enough historical data. You will gain a broad reach of people interested in your products with patience and time.
In your campaign you can have few ad sets running at the same time. For instance, ad set 1 can be based on your 1% purchasers, ad set 2 – 1% people who added to cart, ad set 3 – 1% Instagram followers, ad set 4 – 3% lookalikes with interest targeting and in this case you have to exclude lower percentage lookalikes if you’re running them in other ad sets, so they don’t overlap.
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