A Lookalike Audience is something that has been available with Power Editor for a while now. Once you have created a Custom Audience using a customer email list, UIDs or phone numbers, you can then target users similar to those on your Custom Audience by creating a Lookalike Audience.
Facebook finds the top % of users optimised for similarity or reach based on your Custom Audience and creates a new audience of users of a similar demographic or with similar interests.
How to Create a WCA Lookalike Audience
Open Power Editor and click on ‘Ad Tools’ in the top right then select ‘Audiences’ from the drop down menu to view all of your Custom Audiences and Saved Audiences.
Click ‘Create Audience’ in the top left hand corner then select ‘Lookalike Audience’ from the drop down menu.
This will bring up the following dialogue:
This is where you create your Lookalike Audience.
From the ‘Source’ field select your existing Website Custom Audience before selecting the country to target.
You can only target one country at a time but you can create multiple audiences based on your WCA for each of your targeted countries.
You now have the to opportunity to choose whether you want to generate your Lookalike Audience based on similarity or reach. Similarity targets the top 1% of Facebook users based on how alike they are with your Custom Audience based on demographic and interests. Reach expands the search to the top 5%.
I would recommend creating one based on similarity and one based on reach to see which one performs the best.
Once you are happy click Create Audience and Facebook will generate a Lookalike Audience based on your WCA. Note it can take up to 24 hours for Facebook to do this but once it is complete you will receive a notification and the status will be moved from ‘Waiting’ to ‘Ready’.
Why Use WCA Lookalike Audiences?
When creating you Facebook ads you want to target your most relevant audience to maximize your ad performance. This usually involves targeting your fans, mailing list and website visitors as all of these groups have shown a direct interest in your brand.
If someone has visited your website then you can make a general assumption that they have some interest in your brand.
Where WCA Lookalike Audiences can prove really useful is if you set up a WCA based on people who have visited a particular page on your site, for example the checkout page of a particular product.
Once you have set up the tracking pixel on this page and created your WCA you can then create a Lookalike based on people who have bought your product, people who may also be interested in making a purchase.
Good Facebook targeting = good business.
Over to you.
What do you think? Have you tried using WCA Lookalike Audiences?