If you use Facebook to promote your business then you need to know about Lookalike Audiences to improve your success rate.
When creating an advert you can upload a CSV file of your database (make sure you have consent to do so under the new GDPR law) and then Facebook can re-create a ‘lookalike’ list of people that have similar characteristics, who are more likely to respond to your advertising. They are essentially a carbon copy of your key demographic and therefore more likely to be interested in your brand/service.
It’s a targeted approach of reaching out to potential customers and will provide better results than the standard audience selection offered by Facebook. You’ll end up wasting a lot of money if you just select people within a particular location or who have shown interest in a particular thing, such as weddings for example. Using ‘weddings’ as a concept, everyone at some time has either been to a wedding or has got married themselves, so by selecting ‘weddings’ as an interest will reach a wide audience yet many of those people will have no interest.
Therefore if you are in the wedding industry for example and you want to target new clients, by using a lookalike audience Facebook will be searching for people who have either updated their status for example to ‘engaged’ or who have recently attended a wedding show. This means these people are far more likely to want to hear from you.
If you want some more advice on the subject then contact me now!