Are you aware of the recent Facebook update regarding ‘Customer Lifetime-Value’?

Are you dreaming big for your Facebook Marketing?

Well, that’s obvious, each and everyone who is on Facebook is in a constant hunt for new and valuable prospects.

So, is there anything that still requires your attention or any trick that can bring down more leads into your Sales funnel?

To get down to a serious business on Facebook, make sure that you always know the scores of your competitors and what’s going around.

In this update, I am gonna introduce you how you can create Lookalike Audiences in the simplest way.

What is Lookalike Audience?

Lookalike audience snoops to those Facebook users who has a stronger possibility of adopting your products and services.

And your grounds for  strongly considering them as your future customers are, their activities, personas, likes and behavioural on Facebook which are  very much similar to your current consumers.

The good thing is you can create 500 lookalike audiences from one audience source.

If you are planning to create your lookalike audience soon… brace up till the end of this post, you certainly end with valuable points. But first, look at the basic informatory points on Lookalike audience.

1. You have to select the country name at the time of creation of your lookalike audiences.
2. The source audience you will select for creating lookalike audience must contain 100 people minimum belonging to an individual country .
3. The country name of your source audience and lookalike audience need not to be same.
4. Your source audience will be excluded from the lookalike audience unless you select Conversion Tracking Pixel in the form of your source audience.
5. You can create more than one Lookalike audience simultaneously for a single Facebook ad package.
6. The Facebook ad package will focus on each user who is in any of the selected/created Lookalike Audiences.

How one can create Lookalike Audience for Facebook page?

Step 1. Go to Facebook Ads account.

Step 2. Click on the ‘Audiences’ tab.

Step 3. Click on the ‘Create Audience’ dropdown list.

Step 4. Select ‘Lookalike Audience’ from the shown drop list.

Step 5. Select you source audience.

Step 6. Search and feed the name of country or location , you want to target to find Lookalike Audiences.  

Step 7. Fix the size of your audience by adjusting the Slide Note.

Step 8. Click  on the ‘Create Audience’ button.

NOTE: You can not edit the your Lookalike Audience size, once you click on the Create Audience. The only way left to is to create a new audience of the newly preferred size.

What is ‘Customer-Lifetime-Value( CLV)’?

Prior to what is this, I would like to tell you why this? The reason behind integrating this term here is, it will help you in deciding the parameters before and while creating your Lookalike audiences.

Now let’s dive to the term’s explanation:

Customer Lifetime Value stands for the prediction of the net profit that is responsible for the entire relationship with the customer.  

With the recent lifetime_value parameter update of Business manager rolled out by Facebook this is exactly the kind of power you have now.

What are the prerequisites of Lookalike audiences?

So now you have understand that the ‘Lookalike Audience’ are the people who lets you to find new people on Facebook, which are similar to your existing audience.

After you have created the Lookalike audience, now Facebook will try for its popularity. Starting with the specified locations, you will get the names of the most relevant people that can be your Lifetime Value Custom Audience.

But wait, you have to be very careful while talking and starting with your Lookalike audience, as just because they are similar to your best customers, it doesn’t means they are trusting you and your products blindly. You should remember that good things take time.

Start targeting them with your ads first. See what the response is, then after start filtering those people who are regular with your ads, but don’t forget the new add ons though. After a certain time interval, you will witness a good number of following for your ads.

This is not the end, but beginning. Now you are supposed to manage your audience, at the same time creating a new set of Lookalike audience as well.

Taking the help of technology for good beneficial purpose is always profitable. For creating your audience you can take the help of the technical tools that are available for this purpose. One such tool is PowerAdSpy, that can workout in this term.

How a Facebook Ads spy tool can help you in creating Lookalike Audience?

First of all, let me clear this out, that PowerAdSpy tool is a Facebook Spy tool, that can spy on the ads and campaigns of your competitors. Meaning, this can really help you out in knowing the latest actions your rival companies are doing.

And not only this, with the help of this tool you can also create and target the most relevant people as your audience. Here are the features of this tool that you can use for your Facebook marketing purpose –

Advance search and filtering –

The tool provides very good feature for doing the searches for your target audience. For preparing a good ad, first you need to search for a good and relevant one. With PowerAdSpy you can’t only search for the most relevant ads, but you can also filter them as per age, gender, relationship, interests and keywords.

Spy on your Competitors –

As a spy tool, it will keep an eye on all the campaigns of your competitors, and track all their ads and creatives. In this way, you will have all the information about the activities of your competitors. You can keep an eye on their ads from every possible angle and landing pages as well. You will get all the information regarding the latest feeds by your competitors on their Facebook handle.

In Depth Analytics –

   So without a good analyzing trick, you cannot manage the created lookalike audience right! Finding your target audience will not work unless you have worked on your Ads reach and audience engagement section. So with PowerAdSpy you can easily perform this action.   

Closure –

So in this way, you can search, create and find your lookalike audience and turn them into your potential customers as well. Using tools like PowerAdSpy you can be extremely comfortable to perform your overall Facebook marketing with ads and audience.

I hope you have liked my article, thanks for reading.   

 

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