Facebook Lookalike Audiences are a super powerful tool that will allow you to find people just like your existing users and put your app right in front of them. They will help you to achieve what every app publisher is looking for; Lower Cost-Per-Install (CPI) and high quality installs!
Extending the reach of Custom Audiences
Earlier in the week I wrote about how powerful Facebook Custom Audiences can be for app publishers. They are an amazing tool that I think every app publisher should be using if they are serious about paid user acquisition.
Lookalike Audiences are basically an extension of the Custom Audience.
A Custom Audience allows you to reach existing users of your app. A Lookalike Audience allows you to reach new people who are very similar to your existing app users.
A Lookalike Audience takes a Custom Audience that contains existing users of your app and finds people just like them. These people are very similar to your existing users, so it makes sense that they are likely to be interested in your app!
Lookalike Audiences often contain many more people than Custom Audiences. This gives you a large audience to target with your ad campaigns.
For example, if you have 10000 existing app users in a Custom Audience, you could create a Lookalike Audience with 5 million people just like them. You could then reach these 5 million people with ads for your app.
How Facebook Lookalike Audiences Are Created
To set up a Facebook Lookalike Audience for your apps, first you select an existing Custom Audience.
Next you choose a country that you want to be the focus of your new Lookalike Audience.
The last thing to do is select the number of users you want in your new Lookalike Audience. The minimum and maximum number you can choose depends on the country you select, but it can range from tens of thousands to tens of millions of users.
Now just sit back and let Facebook work it’s magic. It will go and find users who are very similar to those in the Custom Audience you chose and add them to your Lookalike Audience.
Once this process is finished, you will have a Lookalike Audience containing lots of new users that you can target ads towards.
There is a lot of data that we aren’t able to see about our app users. Facebook has access to all of it and they use this data to populate the Lookalike Audience. That’s what makes Lookalikes a crucial weapon to have in your user acquisition arsenal.
How can Facebook Lookalike Audiences help you lower user acquisition costs?
Here’s how Lookalike Audiences can help you get more app installs for less money.
Getting ads in front of the people who care about your apps is one of the best ways to get more downloads from a campaign. This is exactly what Lookalike Audiences allow you to do.
User acquisition costs are reduced because you end up with more downloads from the same number of ads. There is less money wasted on ad impressions that aren’t in front of your target audience, who don’t want to download your apps.
I’ve personally seen CPI’s as low as $0.56 from Tier 1 countries using Lookalike Audiences. I’m sure you will agree that is a figure that most app publishers would find very attractive!
Getting started is simply a case of preparing Custom Audiences based on important events that occur in your app. Once you’ve done that you can create Lookalike Audiences based on those Custom Audiences and start reaching new potential users.