There are going to be ways in which you can target your lookalike audience, thanks to a strategy that relies on the principle that if your audience likes your product, then the people who are like your audience will also like your product. That’s the basic philosophy behind Facebook’s new marketing strategy.
Starting this week, those who advertise on Facebook will have the opportunity to contact non-customers via the popular social media program. In essence, those looking to purchase a Facebook ad can reach out to non-customers but the catch is that these non-customers have to be similar to their current customers in word and in deed. What it comes down to is creating a lookalike audience. For instance, if you have a rides on demand business, you might create a lookalike audience based on those who might have used a taxi service within the last month.
As part of Facebook’s new marketing strategy for businesses, businesses can now create a lookalike audience for their product or service, and using the Power Editor, businesses can now optimize their ad for Similarity or Greater Reach. By optimizing for similarity, businesses will grab on to the top 1 percent of people who are most like those who already use their product and be able to make their ads more available. The option to start marketing towards a similar audience is under the Power Editor, under the Ad Tools, where you can select Audiences.
This new option is exciting as it can link your business up with the demographics you are most trying to reach with your business or product. This option also allows you to tap into an audience with similar Facebook interests to your target audience, in addition to examining their location.
This is one of the many tools that Facebook has brought out lately that are truly innovative and almost groundbreaking in the world of Facebook advertising. It goes beyond simply getting Page likes; it’s a matter of tapping into an audience which is quite like your current one, putting your product in front of them, and enticing them to buy into your product or service. What is neat about it is there is very little groundwork required of you. You simply have to indicate, through the new option under Audiences, what sort of reach you want – Similarity gives you the top 1 percent while Greater Reach gives you the top 5 percent, based on what your target audience is for your product – and then you are able to see some results.
This is largely untested water in the world of social media advertising, and while it seems like Facebook’s version of Attack of the Clones, it’s an exciting new trend in the world of Facebook marketing.