Look-alike audiences and why we need them (1)
Greetings!
Today we are going to talk about look-alike audiences and why we need them.
If you have a business or you are an arbitrator/targetologist, you must have had this though already: "How do I create for myself an audience that is the same as the one converting now?"
For that, there is a lookalike audience, meaning a similar one
Why do you need it?
To increase your income and audience coverage
How do you get it?
You can put a Facebook pixel on your site and then set a specific target (event) through which you will collect various data.
You can also upload your audience using a file (containing e-mails or phone numbers, for example). For your next step, you will need to choose the percentage of the audience which will look alike. 1% is an audience that most closely resembles the one uploaded, while 10% is an audience that is not really open to give information about themselves or upload their data on Facebook.
How to create a lookalike audience on Facebook
1. Open Audiences.
2. Click on the Create Audience drop-down and select Lookalike Audience.
3. Choose the source.
Notes.
• Among these possible sources is a customer file you created without using data of your pixel, mobile applications, or page fans.
• Try to choose a group of 1,000–50,000 clients with the best life-cycle characteristics, transaction volumes, total orders volume, or engagement.
4. Choose the country or countries where you want to find your lookalike group of people.
5. Choose the audience size using the slider.
6. Click Create Audience.
You can also create a lookalike audience in Ads Manager while creating your ads.
What you need to remember
• Creating a lookalike audience can take 6 to 24 hours. After that, it will be refreshed every 3–7 days while your ads targeting this audience are active.
• To use a lookalike audience for targeting, you don't need to wait for it to be refreshed.
• The date of the latest update of your lookalike audience is displayed on the Audience Manager page, in the Availability column.
What is A/B testing for audiences?
To get maximum returns from your audiences, you need to create not one, but a few of them. For example, 1-3% and 3-5%. You need different ad creatives and approach for each one to get results. Try to upload the same creatives you used before and see where you get more orders/clicks.
What minimum amount of data do I need for a lookalike audience?
The minimum amount we recommend is 1000 units. If you your data to be precise, more usually means better. There are many groups on the Internet selling client databases (buyer beware: prices may vary), but you always need to ask how this audience was collected.
I cannot create a lookalike audience in my account. Why?
To make this function appear, you need to gain Facebook's trust. You can gain trust by running ads ($100 and above) or by verifying your company. As soon as you do any of that, you will be able to upload your audience.
Good luck! 
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