How often have you said to yourself, “I’d really like to expand my page’s reach to a demographic exactly like the one I’m targeting now with little or no effort?” If you’ve ever said that, or thought that, then Facebook’s Lookalike Audiences promises to be the tool you need.
Thinking about what this tool actually does, it seems intuitive. Who better to know what demographic you are targeting (or reaching) with your Facebook page than Facebook? They have all eyes on. But the “lookalike” audience is based on your custom advertiser settings, so the “eyes on” is easy.
But note that by using Lookalike Audiences you are not reaching an exact duplicate of your current audience. You are reaching a “similar” audience. Consider:
Facebook is now offering advertisers a new feature called Lookalike Audiences, which enables direct marketers to target audience segments with similar customer profiles to those they have uploaded themselves with Facebook’s Custom Audience feature.
Emphasis is mine.
So if you tell Facebook that you are targeting women between the ages of 20 and 25 with an earned income between $50,000 and $100,000, then people who fall into that same demographic who are not already fans of your Facebook page can be targeted with your advertising.
Or, suppose you are a local business catering to anyone living in Minnesota. Facebook users living in Minnesota not already fans of your page can be targeted by your ads.
This is a powerful feature, but like all new features, it remains to be seen how Facebook advertisers will apply it to their situation. Go, experiment.