How to use look alikes audiences to make money

Getting ROI from your Facebook spend is all about focusing your budget so only relevant, qualified audiences see your ads. So how do you find the right audiences on Facebook, whatever your industry and business type? When it comes to AdWords, the opposite is true, right? You have to define an audience to show your ads to. Quite the opposite. Facebook allows you to get reasonably interested eyeballs on your product or service and nurture them through dynamic, engaging content from initial exposure until the day you can close a deal sell a widget. This means striking a balance between broad and specific audiences, effectively turning your Facebook advertising efforts into a self-contained marketing funnel.

What are Facebook Lookalike Audiences?

Want better results from your Facebook lookalike audiences? Website traffic lookalike audiences are a popular way to remarket to people who have visited your website. Traditionally, the strategy for website traffic lookalikes is based on people who have visited your website or certain website pages within a set time period most commonly 30 days. Although the Time Spent parameter how long someone spends performing an action or visiting your website is perhaps the least used, it works wonders as part of a remarketing strategy. The Time Spent parameter is especially effective when used in conjunction with people who visited your product pages. To create your custom audience, go to Ads Manager and open the Audiences tool. Click Create Audience and select Custom Audience. Next, choose to create your audience from website traffic. You also need to select a time period. The default is 30 days, but if you have lots of traffic, you can test a shorter time period to create a very specific audience. Additionally, enter the URL of the page whose visitors you want to target.

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You can target audiences on Facebook with a dozen different ad formats and thousands of possible ad targeting parameters. Early on, Facebook was criticized by advertising analysts as a fun place to hang out, but a network with little commercial intent or potential for consumer insight. That changed early in when Facebook forged partnerships with data brokers including Epsilon, Acxiom, and Datalogix. These companies have access to trillions of data transactions each year. Suddenly, Facebook knew a whole lot more than whether you spent more time in Farmville or Candy Crush Saga. Getting married soon? Taking medication for hypertension? Love reading murder mysteries? Facebook probably knows. This gave advertisers the power to reach out beyond their own CRM databases and tap into insights gleaned from shopper loyalty programs of all kinds and matched to individual user profiles. Facebook advertisers use this data to target audience segments by thousands of different purchasing behaviors. Within each broad subcategory, you can drill down into types of behavior; for example, choosing Buyer Profiles will then let you target DIYers, Fashionistas, Foodies, etc. Certain types of businesses or campaigns are based on selling to people experiencing certain major life events. Wedding photographers target people who are engaged. Facebook has pretty much every conceivable life event targeting option, since we tend to post these to our timelines. The Life Events parameter is unique in that you can choose to target people at specific intervals of time after the change. For example, a jewelry company would obviously be interested in getting in front of people celebrating their one-year anniversary, so they could target audience members who were newlyweds one year ago. The date ranges possible are 3 months, 6 months and one year. Facebook Custom Audiences are an advanced feature that enable you to connect on Facebook with your existing contacts. Getting in front of your existing customers and app users on their favorite social network reinforces your brand, but also gives you the opportunity to increase lifetime customer value, order frequency, and loyalty. This works the other way, too — you can increase the efficacy of your campaigns and avoid wasted clicks by excluding your existing customer list. You can also create a Custom Audience based on your site visitors and specific pages visited on your site , or on specific actions taken within your game or app. Then target or exclude the whole list, or just specific subsets of it using other targeting parameters to home in on your ideal Facebook audience. This is crazy powerful! You could target your existing customers who work in a specific job function, make XX amount of money per year, and live in a certain ZIP code with a higher value product offer, if those insights told you these people are more apt to be your affluent customers. They already know your name and were interested enough to visit you, but not to convert. Facebook Ads targeting that Custom Audience can close the gap.

#1: Reach a Lookalike Audience of People Who Spend Time on Your Website’s Product Pages

To scale any Facebook t you’ll need to ensure you can target as many relevant prospects at the top. The more people who enter your funnel, the more customers you’ll end up. A lookalike audience is an audience on Facebook that has been gathered from any of the following:.

Facebook uses these datasets to create lookalike audiences of millions of similar users that you can start targeting kake the top of your funnel. At a minimum, you need datasets users to be able to create xudiences lookalike audience from any of the datasets in the bullet points. After years of working with lookalike audiences, I believe you need at least 1, emails to create an effective lookalike audienceand more than 5, fans or page engagements aaudiences create an accurate audience based on your page or post engagements.

Lolk of it this way: the cheaper the dataset, the more people you need and the less profitable it will be. For example, a dataset of 1, emails of customers who have made a transaction with lok business is going to be much stronger than an email list of 3, people who have signed up to your newsletter but not performed a transaction. Emails and standard event website custom audiences that are tied in with a conversion sale, sign up.

They are harder to obtain, but the quality of users inside these datasets will help you to create better targeted lookalike audiences. Cheap datasets are post engagements, page likes, and website visitors.

The reason they are ‘cheap’ is because they have not performed any intended action, and many of them might not even be interested in your product or service. Liking a page post requires much less commitment and takes less time than visiting your store and buying a product. Creating a lookalike audience around page likes or engagements may not be as profitable, but many marketers tend to use these sources as they contain more datasets.

If you have a huge amount of emails, then instead of grouping them all together, focus on your most ‘expensive emails’ first i. Based on your list size, you might even want to segment your customers into various categories and create lookalike audiences for each group. One for individuals. One for business owners. Then I’d go ahead and serve audiencds group with a personalized ad message to drive traffic to audienves top usr my funnel.

If you don’t have enough emails to create a custom audience, then the next best thing is website visitors. Instead of targeting all website visitors, create segments from people who visited specific pages such as products or pages that require two or more alikess to reach, as this shows greater intent.

Combine this with interest targeting to weed out weaker users who may not be ideal for your product or service. The higher the percentage, the more people in your audience but the less targeted it will be.

Facebook lets you create multiple audiences at one time, so I suggest making a few and testing them to see what segment performs best.

To scale a Facebook funnel the users yo your funnel need to be targeted. If you start driving thousands of poorly targeted users into the top of your funnel, then as they fill up your website custom audiences and email lists you’ll be leaking money in ad spend at each stage of loook funnel. How are you currently using lookalike audiences to grow your business, and are you making any of the mistakes listed in this article?

Topics: Facebook Ads. Jun 12, PM. A lookalike audience is an audience on Facebook that has been gathered from any of the following: Customer list Page Website custom audience App users Engagement custom audience Facebook uses these datasets to create lookalike audiences of millions of similar users that you can start targeting at the top of your olok. Number ho people needed to make a lookalike makr At a minimum, you need datasets users to be able to create a lookalike audience from any of the datasets in the bullet points.

Focus on your expensive datasets first If you have a huge amount of emails, then instead of grouping them all together, focus on your most ‘expensive emails’ first i. Summary To scale a Facebook funnel the users entering your funnel need to be targeted. Get in touch with us. Handcrafted in sunny California.

How to Create Facebook Lookalike Audiences: Detailed Tutorial for 2020

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Want to expand your ad reach on Facebook? To explore creative ways to combine Facebook lookalike audiences with custom ad audiences, I interview Rick Mulready. In this episode, I interview Rick Mulready. Rick explains uze and lookalike audience options that help you make the most of your customer list. A lookalike audience is a targeting audience based on a custom audience. Examples of custom audiences include people on your email list, website visitors, and Facebook users who engage with your video or Facebook page. When you create a lookalike audience of a custom audience, Facebook finds users who have similar attributes how to use look alikes audiences to make money the people who are in that base custom audience. For example, say you have an email list custom audience. To create that audience, you uploaded jow list of 10, people and Facebook has matched those emails to 6, Facebook users. For a lookalike audience based on this custom audience, Facebook will look for Facebook users with similar attributes to those people on your email list. Facebook knows a lot about its users. Although the data is anonymized, Facebook makes that data available aidiences advertisers to help them moey their ideal target audience. Lookalike audiences give you a way to reach a cold audience beyond interest or behavior targeting.