METHOD 3: Expand Lookalike Audiences
Lookalike audiences are extremely powerful. Mastering these audiences is probably the most difficult and time-consuming as there are so many moving parts, but if you can master this beast then you’re on your on your way to becoming more profitable.
The steps go like this:
- First you create a Facebook Pixel, which is a small bit of code that you put onto your website.
- You set up the pixel to track specific events, like conversions, sales, or opt-ins. Every time one of these events happens, Facebook places a small piece of code in the browser of the person who took action. Ultimately, it’s a cookie.
- Using the data collected by that pixel, you can then have Facebook create a lookalike audience. They will look into your pixel data and create a much bigger audience that closely matches the people who took action.
Why is this so good?
Instead of blindly targeting people you think might be interested, you’re targeting an audience who very closely matches people WHO HAVE ALREADY CONVERTED.
Facebook is doing the market research for you. They’re figuring out who would be interested in what you’re selling. Not only that, they are bringing them to your shop door.
Remember, Facebook has so much data on everyone, they know your audience far better than you do and they allow you to connect the dots and pay to access your potential customers easier than any ad tool out there.
Facebook know what they like and hate. They know that they’re into music by Drake, like content surrounding Veganism and Animal cruelty. They know that a lot of them live in the south cost of the UK.
You don’t know any of this, and Facebook won’t tell you, but they will build an audience for you using their data.
Remember that winning ad set we mentioned? If you have a pixel set up with that ad, you can then create a much bigger audience that precisely targets only people who took action on your ad.
That kind of hyper-specific targeting allows you to find the right audience and then scale your ads to that audience.
By the way, don’t worry if you don’t know how to install the pixel on your site, we’ll cover that in our future post, or we’ll do it for you if we are working together.
In short: Create your Facebook Ad pixel, then use it grow your audience and expand the locations you are delivering ads. Your audience sets will grow and give you more people to talk too that actually want to hear from you.