One of the most useful features of the Facebook ads platform is the ability to create ‘lookalike’ audiences.
What this allows you to do is to give Facebook a group of people and say “find the commonalities between this group and then extrapolate that to find me more people like this.”
Let’s take an easy example. Say you have a customer list. You can take that list, upload it to Facebook, and then make a lookalike audience from it. Facebook will look at the different people on your customer list, try to figure out what they have in common, and then search out people who seem similar. You can then run ads to people who are more likely to engage with you, because they have similar traits as the people who have already purchased from you.
Got it? Here’s a way to do that even more effectively: make a list of the customers who have spent the most money with you, and create a lookalike of THEM. This allows you to be more specific than just a simple customer list, as you’re asking Facebook to find you more of the people who look like your best customers, not just people who look like your customers.
And hey, a Facebook group is also another great source for a lookalike audience… if that feature is unlocked for you.