Facebook ads allow for some of the most specific and effective targeting in the digital space. This has been the case for quite some time, but it looks like the social media giant is upping the ante by adding Value-based Lookalike Audiences.
What exactly do these new audiences mean for Facebook advertising campaigns? Our digital specialists clarify exactly how this new feature can help your business succeed:
Creating Specialized Target Audiences
Facebook’s algorithm has always encouraged advertisers to appeal to large, but highly targeted, lists of prospective customers. 2013 saw the launch of “Lookalike” audiences, which allowed users to automatically create additional lists of customers that resembled their current audience.
Now, Facebook is allowing advertising professionals to not just create lookalike audiences based on interests and demographics, but also on the value that each impression brings to the company. This means that Facebook will show ads to the customers who can make the most impact.
Targeting Impactful People
Where Value-based Lookalike Audiences flourish is with customer lists that pack a financial punch. By simply adding a column of values to any audience list, advertising professionals can now ask Facebook to target more people who fit the bill (literally).
This means that customers can be categorized and targeted based on demographics, interests, and how valuable a conversion may be to the company as a whole. Plus, since the user gets to define what customer value means to them, these lists are highly targeted to achieve company goals. By introducing this feature, Facebook is paving the way for more effective advertising and less wasted budget on social media advertising campaigns.
Do you want to start connecting with valuable customers, but don’t know where to start? Schedule a time to grab a drink with us and connect. We’d love to show you how we can help you achieve your goals.