Facebook has begun testing a new feature called “Lookalike Audiences” to help marketers build out their target audiences. This is according to an article from Inside Facebook, which reported that the feature intends to provide powerful targeting opportunities for marketers and create more relevant ads for users.
“Lookalike Audiences” is created by a Facebook algorithm after a marketer has established a custom audience database of first-priority customer information, including email addresses and phone numbers. Once the custom audience has been developed, Facebook’s algorithm analyzes the data and produces another audience group that is similar to the custom audience. The audience created by the algorithm can either be used to optimize reach and widen the user “net” or to optimize similarity for increased engagement, depending on how the marketer wants to target users. According to Inside Facebook, the “Lookalike Audiences” feature is exclusive to marketers in Power Editor who want to reach users who aren’t in their database but who are similar to those who are.
In response to the new “Lookalike Audiences” feature, Mark Zuckerberg, Facebook founder and CEO, stated, “There’s a big opportunity in front of us to make every ad that we’re showing a lot better. The biggest ways we’re going to do this are by improving targeting and relevance so we can show everyone content that they care more about and by designing better ad products that aren’t just about links and text and images.”
The “Lookalike Audiences” feature has the potential to provide marketers with an opportunity to improve their audience reach and engagement while also distributing ads relevant to specific users.
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