Facebook Targeting: Lookalike Audiences

In the ad set creation, what does the box "Expand interests when it may increase conversions at a lower cost per conversion" box do?

It allows Facebook to expand your targeting if we can't get enough conversions from your specifically-defined target audience. This automates a switch from specific to broader targeting if the former is unsuccessful.

Which of the following can be used as seed audiences (choose two). -a page -a core audience -an audience segment -a custom audience

A page and a custom audience

Choosing an audience size close to 10 optimizes for...

...reach! Your Lookalike Audience will be larger, but less similar to your seed. More people are eligible to see your ad, but they may be lower-quality matches to your seed audience.

Choosing an audience size close to 1 optimizes for...

...similarity! Your Lookalike Audience will likely be small, with a high resemblance to your seed. An audience size of 1 means that your Lookalike Audience will contain the top 1% of people on Facebook who most closely resemble your seed audience.

Where on Facebook can Lookalike audiences be created? (Hint: there are 2/3 different places)

1. The Audiences area of your ad account (Create Audience > Lookalike Audience) 2. Ads Manager or Power Editor (Create New > Lookalike Audience)

Where can seed audiences be created from?

A Custom Audience, a website, a mobile app, facebook page fans

Lookalike Type: Multi-country Lookalikes

Expand the potential pool of people who can see your ad with by targeting multiple countries, an entire region, or a free trade area. This can optimize ad spend by distributing your budget to the countries where it will work most effectively.

What's the value of Lookalike audiences?

Lookalike Audiences can help marketers find — and deliver ads to — people who share demographic and behavioral traits with their best customers.

Lookalike Type: International Lookalikes

Lookalike Audiences can target similar people in any country, or worldwide. This may help companies expand across international borders.

What are Lookalike audiences?

Lookalike audiences are based on sophisticated modeling and identify people who share similar likes, interests, or characteristics as currently built audiences.

If creating a lookalike audience from a website pixel, how should a marketer set up the pixel to get the most valuable data?

Marketers should specify page visits and actions that trigger the pixel. For example, monitoring the action "complete a purchase" enables you to generate a Custom Audience based on people who've bought from your website.

What does Facebook SDK stand for?

SDK stands for Software Development Kit that allows marketers to track installs and app opens, and provides users the ability login to apps with Facebook and share content/achievements etc.

What is the minimum seed audience?

Seed audiences must contain at least 100 people from a single country.

Do Lookalike audiences perform better when a seed audience is significantly SMALLER or LARGER than the original audience pool?

Smaller If your seed audience is very large or diverse compared to the total number of people in the country or locations targeted, try segmenting it into smaller groups and then create Lookalikes from each.

Why should you avoid broad Lookalike Audience sources?

Sources like "all app installers" or "all purchasers" are not ideal for conversion-optimized ad sets because they don't distinguish between great customers and average customers. Best Practice: Create a Lookalike Audience from a source made up of the customers who've taken actions you care about (such as offers to store locator)

What's a seed audience?

The seed audience is a group of people who are important to the success of your business, such as those who make high-value purchases or who are deeply engaged with your Facebook Page or mobile app. The seed is the original source audience the lookalike will be based off of.

What is the ideal seed audience size?

The seed audience is ideally between 1,000 and 50,000 people. The more people in your source audience, the more people Facebook can find who look like them.

Which is true of a Lookalike Audience created with an audience size of 2? -There will be significant overlap between the seed and the lookalike -There may not be substantial overlaps between the seed and the lookalike -It can only be used to target people living in a single country -It's ineligible to be combined with value-based targeting from customer lists.

There will be significant overlap between the seed and the lookalike

Lookalike Type: Value-based Lookalikes

These audiences Include a "customer value file" when creating a Custom Audience to seed a Lookalike Audience that resembles your very best customers, based on previous or predicted spend.

What is the primary use case for Lookalike Audiences

To help marketers target ad delivery to people similar to ones they already know

True or false: Only pixel-based lookalikes contain all members of the seed audience

True

What's an example of a relevant seed audience for mobile app sales? (Hint: Use the Facebook SDK to...)

Use the Facebook SDK to generate a Custom Audience of your highest-value mobile app users.

What are 3 types of lookalike audiences?

Value-based, International, Multi-country lookalikes

What does a tiered lookalike" strategy look like?

• A 1% Lookalike Audience • A 2% Lookalike that excludes the 1% audience • A 3% Lookalike that exclude the 2% audience

What behaviors/traits can build a lookalike audience? (Hint: there's 4)

• Existing customers • People who like your Facebook Page • Visitors to your website • People who engage with your mobile app