Frequently Asked Questions About Facebook Lookalike Audiences
What data sources can I use to create a Lookalike Audience on Facebook?
Custom Audiences: You can create a Lookalike Audience based on your Custom Audiences, which are made up of people who have engaged with your business on Facebook or provided their contact information.
Website Traffic: Facebook can create a Lookalike Audience based on people who have visited your website or specific web pages on your site. You'll need to install the Facebook Pixel on your site to track this data.
App Activity: If you have a mobile app, you can create a Lookalike Audience based on people who have engaged with your app.
Offline Activity: Facebook can also create a Lookalike Audience based on people who have interacted with your business offline, such as by making a purchase in your physical store.
Engagement: You can also create a Lookalike Audience based on people who have engaged with your content on Facebook, such as by liking, commenting, or sharing your posts.
How large should my source audience be when creating a Lookalike Audience on Facebook?
The size of the source audience is an important factor when creating a Lookalike Audience on Facebook. Generally, Facebook recommends using a source audience of at least 100 people from a single country to create a Lookalike Audience. However, the larger the source audience, the better the chances of creating a high-quality Lookalike Audience. Ideally, a source audience of 1,000 to 50,000 people is recommended for the best results.
What is a Dynamic Facebook Lookalike Audience?
A Dynamic Facebook Lookalike Audience is a type of Lookalike Audience that is automatically updated based on changes in the source audience. This means that as new users are added to the source audience, the Lookalike Audience is also updated to include these users. This is different from a static Lookalike Audience, which is created once and does not change unless manually updated. Dynamic Lookalike Audiences can be particularly useful for e-commerce businesses or businesses with rapidly changing customer bases, as they allow for more accurate targeting of potential customers based on the most up-to-date information.
What is a Value-Based Facebook Lookalike Audience?
A Value-Based Facebook Lookalike Audience is a type of audience that is created based on the value of your existing customers. This type of audience is designed to help you find new customers who are more likely to generate high lifetime value for your business.
To create a Value-Based Lookalike Audience, you first need to upload a list of your existing customers and their lifetime value to Facebook. Facebook will then use this data to identify common characteristics among your most valuable customers and create a Lookalike Audience based on those characteristics.
Value-Based Lookalike Audiences are particularly useful for businesses that have a high customer lifetime value, such as subscription-based services or luxury brands. By targeting audiences that are more likely to generate high lifetime value, businesses can increase their return on ad spend and improve their overall marketing efficiency.