Are you looking for an effective way to grow your reach by targeting the right demographics? A Facebook lookalike audience is your answer; an efficient approach to reach demographics with similar characteristics as your existing customer base and followers. Simply put, a Facebook lookalike audience is a custom audience consisting of individuals that are more likely to be interested in your business, based on your existing users. While striving to supercharge your Facebook campaigns, leveraging a lookalike audience is an excellent approach. This is mainly for businesses with an existing base, as you’ll only upload your CRM’s data, segment it, and generate a rich database of potential customers. If you haven’t invested in a Facebook lookalike audience, here is why it is worth your Ad spending.
Improved effectiveness
When crafting ads with less information, you are on a trial and error basis. It means that your ads won’t be that profitable, as the hit or miss requires significant budget and tweaks to capture the right user demographics. With a Facebook lookalike audience, you won’t be setting your ads for random audiences, eliminating the risk of targeting the wrong groups. From cost-effective targeting to less time generating qualified leads, leveraging Facebook lookalike audience places your ads to users with similar traits to your customers, improving your strategies effectiveness.
Efficient audience adjustment
As your business grows, you’ll have to grow your audience. This is not always straightforward; where do you begin, who do you target, and what strategies would work best to help you grow the audience? Answering such questions could demand significant market research to narrow your options, but with a Facebook lookalike audience, such hassles are eliminated. You get a chance to choose a given percentage of similarities to the target, based on your desired size. The narrower the audience affinity, the lesser the audience base, but the higher the potential of landing qualified leads. As you strive to grow your following, you’d adjust the affinity to a higher percentage, allowing you to expand the reach and target more people without breaking your bank.
Improved ROI
Are your ads delivering a return on investment worth your time? With a lookalike audience, you’ll craft highly relevant ads, allowing you to capture better leads and enjoy improved conversion rates. With ads that carry value, increasing clicks and conversion rates won’t be as challenging as if you are firing blind, trying to establish the right demographics and the most efficient strategies. With such a contribution, your ad spending will generate considerable revenue, improving your profitability.
Even when growing your business beyond the current boundaries, whether geographical or product-wise, you can easily target the right users and enjoy better ROI. Following your needs, you might be looking to enter new markets, where you have little to no data to leverage as you endeavor to advertise your business. The Facebook lookalike audience allows you to target users based on elements such as email-list, gender, age, location, among others. From your CRM data, you can narrow the options in the new market to fast track your advertisement efforts.
As you strive to understand your target customers better, market research has and continues to be an integral part of running successful marketing campaigns. With the Facebook lookalike audience, your research quests are productive, as you won’t have to start from scratch. The heavy lifting has already been done, and all you need is to utilize your current data to grow your target audience.
