What is the meta lookalike audience on Facebook and Instagram and why is it significant?
Facebook and Instagram have an option to create lookalike audiences using its algorithms and machine learning capabilities to analyze the ‘seed audience’ and find a set of people on the platform that mimic the characteristics and behavior pattern of the seed audience.
Now what is a ‘seed audience’ you ask! It is the source audience that has interacted with the advertiser's brand in the past. It could be past customers, website visitors or people who have engaged with the advertiser on social media platforms or otherwise.
It is an important targeting tool that helps the advertiser reach out to a wider relevant audience that would have otherwise remained untapped. Higher engagement, conversions and ROI are some of benefits to be reaped from lookalike audience.
Although it’s a genius tool, but it does not eliminate the need for a compelling and converting ad copy which does all the wonders.
You need a relevant source data to create an effective and targeted lookalike audience. Your source data must contain at least 100 unique entries to be used as a basis for creating a lookalike audience. It is also pertinent to note that lookalike audience is restricted to the location set in your ad settings and targets people from the given location only.
As the percentage setting for a lookalike audience increases, its relevance decreases. A higher number on the percentage scale does not mean better results. 0-1% is the most similar to your seed audience, not the other way around.
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