Lookalike Audiences - A new feature in Facebook
A new feature in Facebook, "Lookalike Audiences". The social network is providing advertisers with a more scientific way to reach potential customers. This is a feature for advertisers who is rolling out to power editors. Contradictory to its name, the new targeting tool doesn't let marketers only sell ads to a certain group of people based on how they look, but instead lets them “reach potential customers who share similar characteristics with their current ones.” Facebook lists five ways advertising to similar customers can benefit businesses: fan acquisition, site registration, off-Facebook purchases, coupon claims, and brand awareness. The company says it has been testing lookalike targeting with select businesses for a few weeks now, and the new tool “worked well” both online and offline. Once businesses get access, they can choose to optimize any type of Facebook ad for “Similarity” or “Greater reach”: Here’s how Fac...