How to Use Lookalike Audience for Higher Conversion Rates?
by Elina Tsvetkova
In our previous article (Facebook Pixels) we mentioned that one of the benefits of installing a Pixel is the possibility of easily creating Lookalike audiences. So far, so good but exactly are Facebook Lookalike audiences. If you are interested to know more, you are on the right place- just keep reading.
How can I choose the right Facebook audience?
Generally, there is no such thing as the right way to choose your audience. It all comes to a lot of testing, time, effort and resources until you find the one audience which suits you best. And now comes the question, how can I create audiences which are more likely to show interest in my business, instead of showing ads to people who are not even slightly interested in my content.
This rather unpleasant problem may cost you a lot of money and unnecessary time spent on useless advertising. We have come to a possible solution. Our answer is simple- creating lookalike audiences. That way the chances that you expand your customer base and show relative content are higher. another way of targeting which you may use is saved audiences. This type of audience is based on demographics, geographical place and interests (the ones that you think that your target audience has). Although saved audiences are a pretty good option, with the help of lookalike audiences you targeting includes some traits or interests which you didn’t even know your customers have.
What is a Lookalike Audience?
Basically, Facebook allows you to choose the clients you already like and find ones which are similar to them in terms of age, interests, etc. This is the main principle behind the creation of lookalike audiences. By using Facebook Lookalike Audiences, you can easily find customers which are more likely to be interested in your product or service. This automatically increases your chance of generating higher quality leads and consequently higher conversion rates.
How to make a Lookalike Audience
To form a Lookalike Audience, you need another (source) audience on which the Lookalike Audience will be based on . If you don’t already have a source audience, there are a number of different ways in which you can create it. You can use customer information from a newsletter subscription list or a customer file list. To create a Lookalike Audience, you need to upload your information and further on Facebook will automatically generate one for you.You can also link your Zoho or Mailchimp account to your ad account which will allow Facebook to make a list of your leads.
Another way to create Lookalike audience is with the help of the Facebook Pixel. If you have already installed Pixel on your website, it will automatically generate data about your website visitors. Based on this data a new Lookalike Audience could be created. Lookalike Audiences could be based on people who not only visited your website, but they already saw some important pages or even converted. That way the Lookalike Audience will be even more accurate.
You can also create Lookalike Audiences by using your engagement audience. Your engagement audience are the people who comment, like or show any type of engagement on your Facebook or Instagram profile. This way you can show your content to people with similar profiles to the ones who already showed interest in your business by engagement.
To have a successful marketing campaign more than one Lookalike Audiences can be used at a time. You can create Multiple Lookalike Audiences and test them in order to see which one is performing better. The size of the Lookalike audiences may vary from 1 to 10 %. The smaller the percentage is, the close the Lookalike Audience is to the actual audience on which it is based. Depending on your business and marketing objectives different sizes of the Lookalike Audience may be used.
Lookalike Audiences may be a very helpful tool to expand your already existing customer base. However, time, effort and test are needed to find the Lookalike Audience which will do the best job for you. We, at Digitink, have already tried and tested methods to make this process faster and cheaper for you. For example, it is possible to make 1 Audience by choosing the best from a few Lookalike Audiences. With the right method you can shape your Lookalike Audience so that you are sure that these are 100% the people you should advertise to. Do you want to know how? It’s easy, just contact us on firstname.lastname@example.org or book your free consultation now .