Facebook announces global rollout of Lookalike Audiences

fb-targetingFacebook today announced that its new “Lookalike Audiences” feature, which helps advertisers target users similar to those in their Custom Audience databases, will be rolled out globally to Power Editor accounts this week.

Lookalike Audiences can be created after an advertiser has uploaded a list of first-party data, such as customer email addresses, phone numbers or user IDs to make a Custom Audience. Facebook’s algorithms analyze the Custom Audience and produce another audience segment that is likely to have a similar customer profile based on interests and demographics.

Facebook previously told us that an online travel site saw 70 percent lower costs per action using Lookalike Audiences, and an online shopping site experienced 56 percent lower CPA and 94 percent lower costs per checkout while the feature was in limited beta.

lookalike-audience

Lookalike Audiences should be available to all Power Editor users this week. To create a Lookalike Audience, advertisers can select the “Audiences” tab from the left menu of Power Editor. After they’ve created a Custom Audience, advertisers can click “Create Similar Audience.” Facebook recommends that the Custom Audience include at least 500 people, but the larger the list, the more information the system will have to create an accurate Lookalike Audience.

Advertisers must then choose the country where they’d like to find consumers to target and select whether they’d like to optimize for similarity or reach, then click “Create.” Advertisers can optimize for reach, which will return Lookalike Audiences that are larger but a bit less precise, or optimize for similarity, which will return audiences that are smaller but more similar to the advertiser’s existing Custom Audience. These audiences can be combined with other Facebook targeting options and used for any ad type on the social network. Facebook notes that it could take between six and 24 hours for the new audience to be ready to use for a campaign.

There is no additional cost for creating or using a Lookalike Audience, but the targeting is only available for ad campaigns, not page post targeting.

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8 Responses to “Facebook announces global rollout of Lookalike Audiences”

  1. Social Media Newsfeed: Facebook Lookalike Audiences | Twitter Patent - SocialTimes says:

    [...] select businesses for a few weeks now, and the new tool “worked well” both online and offline. Inside Facebook Lookalike Audiences should be available to all Power Editor users this week. To create a Lookalike [...]

  2. The Friday Five: 10 Lessons for Brands From The Huffington Post | Blog @ Percolate says:

    [...] What’s Facebook’s Newest Advertising Feature? Inside Facebook breaks down the recently announced ‘Lookalike Audiences’ feature showing how advertisers can target users similar to those in their Custom Audience databases. [...]

  3. This week’s headlines from across Inside Network says:

    [...] Facebook announces global rollout of Lookalike Audiences [...]

  4. The New Facebook Changes You Need To Know About - Simply Zesty says:

    [...] to all power editors, users can just select the audiences tab from the left menu of Power Editor. According to Inside Facebook, there is no additional cost for creating or using a lookalike audience, but the targeting is only [...]

  5. Facebook Lookalike Audiences: Target Users Similar to Your Customers - JonLoomer.com says:

    [...] InsideFacebook.com reported that a travel site boasts 70 percent lower costs per action using Lookalike Audiences while an online shopping site saw 94 percent lower costs per checkout. [...]

  6. The New Facebook Changes You Need To Know About | SOCIALcommunications says:

    [...] to all power editors, users can just select the audiences tab from the left menu of Power Editor. According to Inside Facebook, there is no additional cost for creating or using a lookalike audience, but the targeting is only [...]

  7. Jon Lund » Blog Archive » Lund på nettet: Alt om Facebook says:

    [...] have haft nye kunder, kunne han være gået skridtet videre og med et andet nyt Facebook-redskab som insidefacebook.com fortæller om, have skabt en målgruppe af ‘statistiske tvillinger’: brugere, der matchede hans [...]

  8. » Hyper-Targeting Digital Ads: Facebook Wins Kevin Spidel says:

    [...] Facebook announces global rollout of Lookalike Audiences [...]

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