A Lookalike Audience is a way to reach new buyers who are likely to be interested in your VDPs because they are similar to your best existing customers on Facebook.
Facebook Lookalike campaigns attract buyers of socio-economic status and behaviours similar to your current engaged VDP shoppers.
So, why should dealers bother with Facebook Lookalike audiences?
Why Facebook Lookalike campaigns?
Lookalike campaigns are consistently among the best performing types of audiences. After analyzing tens of millions of dollars in ad spend, this is how performance stacks up by audience type on Facebook:
- Lookalike audiences had the Best CTR in 80% of campaigns
- Lookalike audiences had the Best CPI in 60% of campaigns
- Lookalike audiences had the Best CPA in 60% of campaigns
Why do Lookalike campaigns have an advantage over most types of targeting?
When you target lookalike audiences, they’re more likely to purchase from your VDP. To increase sales, you can target in-market shoppers just like your current customers.
Because you target commonalities among your audience, you can and should customize the user experience. Personalized campaigns result in 89% uplift in conversion rates on social media.
Therefore, keeping Lookalikes front and center is a solid practice for dealers competing for local qualified traffic.
What is Engaged Prospect Lookalike?
Engaged Prospect Lookalike takes these campaigns one step further. It targets buyers predicted to convert with a relevant vehicle that makes it hard to scroll away, at a place where they are most likely to see an ad.
We created a quick infographic to walk you through Engaged Prospect Lookalike, how it works and what you may expect from such campaign.
About 90% of the time, campaigns that target Lokalike audiences result in a higher click-through rate than other audiences.
Skip randomly guessing your target audience and hidden factors behind it, let Facebook and
Get in touch with sMedia team and we’ll get you up and running, bringing a steady stream of shoppers similar to your most valuable customers.