Facebook Lookalike Lists: A powerful tool to expand your targeted marketing lists
Upload your current email list using Facebook’s custom lookalike list feature. Facebook will take your current email list and match them with current Facebook login email addresses who you can then target with your advertising campaign. Don’t expect every email address in your list to match 100%. Business-to-Business lists can expect a match rate of 40% to 65%.
Using your custom audience list you can now use Facebook’s lookalike audience tool. Facebook will analyze their extremely large amount of data to find similar Facebook users that match your custom audience.
You have two options when optimizing your lookalike matches. The first option is to match for reach and the second option is to optimize for similarity. In most cases optimizing for similarity will lower your potential audience, but the matches will fit your current customer base. Most small businesses conducting Facebook marketing should choose matching for similarity because your advertising spend will be less and your conversion ratio will be much higher. Facebook will have your lookalike audience data ready in less than 24 hours.