How accurate are Facebook lookalike audiences?

While the 1\% and the 5\% Lookalike Audiences had a CTR of 0.82\%, the 10\% Lookalike Audience delivered a CTR of 0.66\%. The Lookalike 1\% audience delivered 115 leads and the others less. If you compare the cost-per-lead across all the three ad sets and the fact that each of them had a $500 budget, this was to be expected.

Are Facebook lookalike audiences dynamic?

When being used, a lookalike will dynamically update every 3 to 7 days, assuming the source audience it is based on is also dynamically updating such as audiences based on pixel events. This saves a lot of time as you don’t have to keep creating new audiences for every new campaign.

What is lookalike audience based on?

Lookalike Audiences are formed based on source audiences. You can create a source audience (also known as a seed audience) using data from: Customer Information. A newsletter subscription list or a customer file list.

How does Facebook choose your lookalike audience size?

Lookalike audience targeting is based on the idea that people who are most similar to your existing users are most likely to convert. You literally load a list of your best customers (called a source list) into Facebook and let the algorithm take the wheel to find new people who mirror that group.

What is FB lookalike audience?

A lookalike audience is a way your ads can reach new people who are likely to be interested in your business because they share similar characteristics to your existing customers.

How do you set a lookalike audience?

How to create a Facebook lookalike audience

1. Go to your Audiences.
2. Select the Create Audience dropdown and choose Lookalike Audience.
3. Choose your source.
4. Choose the country/countries where you’d like to find a similar set of people.
5. Choose your desired audience size with the slide.
6. Select Create Audience.

When should I use a lookalike audience?

When Should You Use Lookalike Audiences? You should utilize Lookalike Audiences if you know what you’re selling (such as a specific vehicle) and have a detailed list of past customers who have purchased that thing (AKA a list from your CRM).

When should you create a lookalike audience?

What scenarios are Facebook Lookalike Audience ads ideal for?

1. You’re interested in engaging a new audience. Let’s say you want to reach a previously untapped demographic.
2. Your existing ad audience isn’t engaging like it used to.
3. You want to compare two different audiences against each other.

Does lookalike audience include custom audience?

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.

What is lookalike audience in Facebook ads?

Lookalike audiences are a Facebook segmentation tool that finds users whose demographics and interests are similar to those of your existing followers. These are easy to create and implement, making them an extremely powerful marketing tool for efficiently finding high-converting users.