Facebook Lookalike audiences are one of the most impactful marketing tools out there. If you’re not familiar, Facebook Lookalike audiences are made up of people who share characteristics with your current prospects or clients. You can build these audiences in various ways – by uploading a prospect or client list, compiling data on engagement on Facebook or on your website, or utilizing fans of your current Facebook page. However, as with most things in life, to get the best results requires a little effort!
A study on Upwork showed that Lookalike audiences are by far the most beneficial audience type when it comes to Facebook marketing.
Lookalike audiences had the Best CTR in 80% of campaigns
Lookalike audiences had the Best CPI in 60% of campaigns
Lookalike audiences had the Best CPA in 60% of campaigns
This data suggests that although success can be founding in building out and studying other audiences, Lookalike audiences tend to produce the most returns on your marketing dollars. Here’s some basics you need to know.
Lead with Lookalikes
When it comes to Facebook marketing, we believe that the bulk of your budget should be applied here. They tend to be better performing and lead to a stronger ROI. Other campaigns certainly have a place, but start with Lookalikes if you have a limited budget.
The source is the audience group you’d like to replicate, and there are tons of possibilities for good sources. For example, you might choose a list of current clients in a certain demographic, or a list of people who have responded to a recent promotion you did. You can also use Facebook information and discover people who have liked a nearby law firm, and build an audience based on that. Take some time exploring who your best clients are, and their behaviors, and you’ll have some ideas on how to model a Lookalike audience.
Prioritize Top Clients
Most times, the list of your most consistent clients is going to produce the best Lookalike audience. Who better to target than those companies or individuals who seem to behave the same way or have the same characteristics as your most profitable clients?
When creating a Lookalike audience, you must select a percent tier ranging from 1% – 10%. This percentage is the number that Facebook is going to look for, who match your source file. Going for 1% will create the most relevant, targeted group. However, broadening the match to a wider range will result in a larger group and more people to advertise to. We suggest starting as small and targeted as possible, and expanding as needed.
The world of Facebook advertising is complex and ever-changing. Along with Lookalike audiences, there are so many facets to explore that can lead to advertising success for law firms. If you need help building a strategy, or just understanding more about this channel, reach out to our marketing experts.