Lookalike targeting is a powerful tool for programmatic advertising that brings significant benefits to advertisers in finding their niche audiences. By leveraging the power of data and algorithms, lookalike targeting enables advertisers to identify and reach new customers who have similar characteristics and behaviors to their existing customer base. The accuracy of lookalike targeting is impressive, as it allows advertisers to expand their reach while ensuring that their message is delivered to the right people.
For example, let’s say a clothing retailer wants to expand its customer base and increase sales. By utilizing lookalike targeting, the retailer can create a lookalike audience that consists of individuals who share similar demographics, interests, and purchase behaviors as their most valuable customers. The retailer can then run targeted ads to this lookalike audience, increasing the likelihood of attracting new customers who are highly likely to be interested in their products.
This precision in targeting is crucial for advertisers, as it reduces wasted ad spend and maximizes the chances of conversions. The lookalike audience percentage of similarity in comparison to the original audience may vary depending on the advertiser’s goals and the quality of data used. Nonetheless, the concept of lookalike targeting remains a valuable asset for advertisers seeking to optimize their programmatic advertising strategies.
Custom Audience Vs Lookalike Audience
Custom audiences and lookalike audiences are two key audience targeting methods used in programmatic advertising.
Custom Audience Meaning
A custom audience is built by leveraging specific data points provided by advertisers. This can include information such as email addresses, phone numbers, or website visitors. By using this data, advertisers can create audience segments that match specific criteria. For example, a custom audience can be built by uploading a CSV file containing the email addresses of existing customers. This allows advertisers to target their ads specifically to this group of customers.
Lookalike Audience Meaning
On the other hand, lookalike audiences are built based on the characteristics and behaviors of an advertiser’s existing custom audience. It identifies new users who are similar to the custom audience in terms of interests, demographics, or online behaviors. For instance, if an advertiser has a custom audience of people who have made purchases, a lookalike audience can be created to find similar users who are likely to be interested in similar products or services.
To create a lookalike audience, advertisers generally use a lookalike audience builder tool provided by advertising platforms. The tool analyzes the data of the existing custom audience and identifies patterns or characteristics to find users who are most similar to the original audience. This helps advertisers reach a wider audience that is likely to have similar interests and behaviors. At Keynes Digital, we leverage partnerships with the world’s leading data providers and our partnership with The TradeDesk to build accurate lookalike audiences.
Lookalike Audience vs Custom Audience Summary
Custom audiences are created based on specific data points provided by advertisers, while lookalike audiences are built based on the characteristics of an advertiser’s existing custom audience. Both targeting methods offer unique benefits and can be effective in reaching the right audience for programmatic advertising campaigns.
Types of Lookalike Audiences
Lookalike audiences are a powerful tool in programmatic advertising that can greatly enhance your targeting capabilities. At Keynes Digital, we excel at helping our clients reach their desired audience through the strategic use of lookalike audiences.
Here are some examples of the types of lookalike audiences you can create:
1. Website Visitors: By creating a lookalike audience based on your website visitors, you can reach people who have similar interests and behaviors to those who have already shown an interest in your website. For example, if your website draws visits from mothers who enjoy gardening, it’s possible to build a lookalike audience using this data and behaviors.
2. Customer List: Lookalike audiences can also be created based on your existing customer list. This allows you to expand your reach and target people who share similar characteristics with your current customers. For example, if you have had a consistent amount of fishermen in the Northeast purchasing products from your website, these could be audience characteristics that you’d like to form a lookalike audience around.
3. App Users: If you have a mobile app, you can create lookalike audiences based on the users of your app. This is especially useful if you’re looking to acquire new users who are likely to engage with your app. For example, if there is an audience of Crossfit enthusiasts who have been downloading your app, it may be worth your while to build a lookalike audience around this.
4. Social Media Engagement: Another way to create lookalike audiences is by leveraging social media platforms. By targeting people who have engaged with your social media pages, you can identify similar individuals who may be interested in your products or services. For instance, if habitual dog walkers in California have been engaging with your Twitter posts, you can build a lookalike audience around this.
How to Create a Lookalike Audience
By collaborating with Keynes Digital’s extensive network of data partners and utilizing cutting-edge tools, we can help you create highly targeted lookalike audiences. These audiences are built based on the characteristics and behaviors of your existing customers and then expanded to reach new prospects who exhibit similar traits. This strategic approach guarantees maximum reach and audience relevance, ensuring the success of your programmatic advertising campaigns. Trust our expertise and experience to drive your business forward.
Lookalike Audience – Facebook
By leveraging Facebook Audience Insights and building upon the characteristics and behavior of your existing custom audience, you can identify and target lookalike audiences that closely resemble your ideal customers. Facebook custom audiences can be built out and similar to any other platform, a Facebook lookalike audience is based on your custom audiences.
Building a successful Facebook lookalike audience starts with having a custom audience of at least 1,000 active users. Facebook’s guidelines recommend not using custom audiences to build lookalike audiences with fewer than 1,000 users. It is important to maximize the value of your data, ensuring that your message reaches a broader audience that shares similar traits and behaviors as your existing customers.
Once you have a well-defined lookalike audience, the possibilities for targeted marketing are endless. By utilizing this audience segment, you can significantly increase the performance and ROI of your Facebook advertising campaigns. Lookalike audiences allow you to expand your reach beyond your current customer base, reaching potential customers who have a higher likelihood of converting.
Custom audiences are another powerful tool in your Facebook advertising arsenal, and we know how to make the most out of them. By creating custom audiences based on different attributes, such as demographics, interests, or website visitors, we can further refine your targeting and deliver personalized messages to the right people at the right time.
At Keynes Digital, we take a friendly and proactive approach to help you navigate the complexities of Facebook advertising. Our industry expertise allows us to guide you through the process of building and utilizing lookalike audiences and custom audiences effectively.
Partner with us for your programmatic advertising needs and take advantage of the advanced targeting capabilities Facebook offers. Let us help you make the most out of your Facebook advertising efforts and reach the right audience with the right message, driving better results for your business. Contact us today to unlock the true potential of lookalike targeting on Facebook.
Lookalike Audience Google Ads
Lookalike Audience Targeting in Google Ads is a powerful feature that can be utilized to help brands reach their target audience effectively. With lookalike audience targeting, you can expand the reach of your ads to new potential customers who are similar to your existing customer base. By analyzing the characteristics of your current customers, such as their demographics, interests, and online behavior, you can create lookalike audiences that share these same traits. This allows you to serve targeted ads to a wider pool of potential customers who are more likely to have an interest in your products or services. With lookalike audience targeting in Google Ads, you can maximize the effectiveness of your advertising campaigns and drive better results.
Keynes Digital’s full service programmatic advertising business is dedicated to providing the best solutions for our clients. We understand the importance of targeting the right audience, and that’s why we partner with the best technologies in the industry. Lookalike audiences are some of the best-performing segments for our clients to gain insights into their target audience.
Creating a lookalike audience involves using data analysis and algorithms to identify individuals who share similar characteristics and behaviors to an existing customer base. This allows our clients to reach a wider pool of potential customers who are likely to be interested in their products or services. Timing is crucial when using lookalike audiences, and our team of industry specialists can guide you on when it’s best to leverage this strategy. At Keynes Digital, we’re committed to optimizing your advertising campaigns and helping you find success with lookalike audiences.