In the crazy world of social media marketing, Facebook doesn’t cease to surprise with their new offerings. As you may or may not know, Facebook recently rolled out additional ways to create Lookalike Audiences (refer here for a comprehensive 1-sheeter on the basics of Lookalike Audiences). Advertisers now have the ability to create Lookalike Audiences from:
- Custom Audiences from your website
- Custom Audiences from your mobile app
- Facebook Conversion pixel data
- Page fans
As of March 28, this addition was available to all Advertisers in Power Editor. To create a Lookalike Audience, it’s as easy as:
- Select “Audiences” from the “Ad Tools” dropdown in Power Editor.
- Select “Create Lookalike Audience” from the “Create Audience” dropdown.
- Select the Custom Audience you would like to copy into a Lookalike Audience. Note that you can optimize for Similarity vs. Reach.
The Lookalike Custom Audiences have now been created and will be available to target.
Now to the exciting part! We’ve been discussing prospecting-like opportunities on Facebook Marketplace for quite some time, and these new audiences have allowed us to more thoroughly target new users. We created Lookalike targets off of current site visitors, considering both those who had simply visited the site, as well as those who made it through the entire purchase path.
Our goal was to bring new visitors to the Advertiser’s site at a low cost per visit (CPV); with the potential added value of a strong ROI. To say the least, we saw some great results!
Benefits & performance highlights from this campaign include:
- 81% of visits to the Advertiser’s site were first time visitors
- Compared to our standard prospecting campaigns, the Facebook Lookalike segments saw:
- ↓80% cost per new visitor
- ↑361% higher ROI
- ↑250% higher CTR
Excited with the initial results of Facebook’s new Lookalike segments, PMG continues to build and test those audiences as well as incorporate Facebook’s ever-changing new offerings into our client’s media mix.