Facebook has over a billion daily active users, therefore it’s crucial to only advertise to individuals who could be interested in your product. When you advertise, you can specify particular audience groups as your target audience. Facebook advertising provides a wide range of targeting choices, such as a number of audience selections that help you to target the customers who are most likely to convert, whether they have ever engaged with your brand or not.
There are three types of audiences: Saved Audience, Custom Audience, and Lookalike Audience.
Saved audiences target users based on their age, location, gender, and interests. Instead of simply advertising to everyone, you can directly target potential audiences.
Custom Audiences enable you to connect with people who have already expressed interest in your company or product, whether they are loyal customers or have used your app, or visited your website.
You must have the Facebook Pixel installed on your site to create audiences based on website traffic. You can also build audiences based on app activity and engagement, such as people who have visited your Facebook page or messaged you. Custom Audiences are typically very valuable, therefore making them more likely to convert.
Lookalike Audiences are created from Custom Audiences. It is a way for your ads to reach new people who are likely to be interested in your business or product because they share similar characteristics as your existing customer base.
Custom Audience Vs. Lookalike Audience: What’s The Difference?
Custom Audiences on Facebook are primarily used for retargeting when running Facebook ads. For example, if a user visits your website and adds your product to their shopping cart but does not purchase it. You can create an audience of those people and retarget them in order to convince them to buy the product.
Whereas, Lookalike Audiences on Facebook are the people who are similar to our custom audience. For example, if we have data of people who visited a particular page on our website, we can create a lookalike audience and target them based on similarity of their interests, demographics, or behaviors.
Facebook is a highly visual platform, and users rush to it when they want to take a break or simply procrastinate on work-related tasks. That is something to keep in mind when creating ads with custom or lookalike audiences. Make them stand out and appealing so that Facebook users will stop scrolling to see them. Finally, keep in mind that having your Facebook pixel properly installed on your site is important for ad campaigns, regardless of the audience you intend to target.