Facebook Expands ‘Lookalike Audiences’ Capabilities to Enhance Niche Marketing

On March 25, Facebook announced expansion of their ‘Lookalike Audiences’ feature which will allow social media marketers to find more customers with characteristics that are similar to their existing ones. Advertisers can now create lookalikes based on people who visit their business websites, use their mobile apps, or are connected to their Facebook page. In niche marketing, all marketing efforts are focused on a specific, well-defined segment of customers to achieve their business goals. Though there is less competition with this type of marketing, it poses the greater challenge of finding customers. The Internet offers immense possibilities when it comes to niche marketing as you can reach out to your specific target group quite easily online. By extending lookalike audiences capabilities, Facebook has opened up new capabilities for online niche marketing.

‘Lookalike Audiences’ – An Overview

Facebook introduced lookalike audiences in 2013. This feature helps Facebook marketers to reach new customers and grow their businesses. Advertisers can reach potential customers who share similar characteristics with the existing ones. They can use attributes including interests or demographics from Facebook and display ads to potential customers who share attributes similar to their existing customers. Any type of Facebook ad can be served to these new groups. According to Facebook, this type of targeting can drive a wide range of success metrics for direct response companies such as lower cost per acquisition, larger purchase size, and fast, increased return on investment.

Lookalike Audiences

Special customers with specific needs in the niche market make it more challenging to sell your products or services. Another important thing is niches do not exist but are created by recognizing the needs, desires and requirements being addressed weakly or not at all by competition, and then developing and delivering services to satisfy these customers. Once you get a potential customer, lookalike targeting can reduce the effort needed to expand your reach to specific customers and allow you to explore the new possibilities of online niche marketing.

The Three Novel Capabilities

Facebook has added the following three new capabilities to lookalike targeting:

  • It is now possible to reach people similar to those customers who made purchases through your business website. You can use data from Facebook Conversion Pixel or Custom Audiences for Website pixel to reach those individuals who are similar to the customers who made purchases earlier. Facebook claims that Shopify, an E-commerce company gained a 2X decrease in cost per lead while using lookalikes of website visitors.
  • Advertisers can create lookalike audiences based on customers who have purchased their mobile apps earlier and reach those audiences by showing them mobile app ads.
  • Facebook marketers who want to engage customers and prospects in ongoing conversation through their page can utilize lookalike audiences to reach fans connected to their Facebook page.

Professional social media optimization services can help you reach the website audience you want with relevant targeted ads. A competent SEO company can also help you harness Facebook’s new capabilities to enhance your niche audience and meet your Facebook marketing goals.