Facebook launches lookalike audiences targeting tool for advertisers
Facebook has announced the rollout of a new tool, lookalike audiences, which allows advertisers to reach potential customers who share similar characteristics with their current ones.
The new tool uses targeting feature ‘custom audiences’, which was launched last autumn and lets marketers take their current customer lists and show ads to those people on Facebook.
Facebook explained: “Now with lookalike audiences, Facebook can use attributes like interests or demographics and show ads to people who share common attributes as their existing customers. Advertisers can serve any type of Facebook ad to these new groups of people potential customers.”
The social media network predicts that lookalike audiences will help achieve lower cost per checkout, lower cost per acquisition, larger purchase size, and faster and increased return on investment.