Finding the perfect customers who will adore your company is the key to investing in social media advertising. Custom and lookalike audiences are some of the advanced audience selection tools widely used across multiple platforms which will help you find people who are most likely to find your ads relevant. In this blog let’s see the differences between these two targeting tools specific to Meta and sneaky ways to use them.
Table of Contents
What is a custom audience?
A Custom Audience in Meta allows you to target existing audiences among people who are on Facebook & Instagram. You can use sources such as customer lists, website or app traffic, or engagement on Facebook or Instagram, to create Custom Audiences of people who already know your business.
How to create Custom Audiences?
For all Custom Audience types, you’ll have to start by opening your Meta audiences page in Ads Manager or Business Manager and selecting Create a Custom Audience.
- From here, the process depends on what kind of Custom Audience you want to create.
- Here’s the complete list of sources from which you can build a custom audience
What is a 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. A Lookalike Audience uses an existing Custom Audience as its source.
How to create Lookalike Audiences?
- To create a lookalike audience first you need to have a custom audience pre-created & populated.
- Again it all starts with Meta’s Audience section, click create audience & choose lookalike audience.
- Now you’ll have to select the source, which is the pre-created custom audience along with the location.
- Depending on how closely you want to match your source audience, you can select from 1% to 10%.
- Where 1% is the closest match & 10% is the broadest.
- Other platforms like LinkedIn, Pinterest, Twitter, TikTok, Snapchat, and Google also have similar features.
- Now that you know the difference & learned to create both the audience types, let’s see what will be the ideal scenario to use them.
Let’s see some scenarios.
Scenario 1
Scenario 2
Now, let’s consider an eCommerce business that sells luxury products. They find that they have a very low conversion rate i.e. Visit to purchase ratio. With the help of Meta pixel or similar tracking codes, we can create a custom audience of people who’ve abandoned carts and run ads to this set of audiences with specifically curated offers.
Scenario 3
When a custom audience is clubbed with Dynamic Catalog Ads, cross-selling & upselling work like magic, increasing the average order value.
Read more on remarketing your website products with Meta Dynamic Ads here..
Pro Tip!
Conclusion
Wondering how to start with a Custom & Lookalike audience for your business? Give us a call for one on one free consultation.
