Using Lookalike audiences can often result in overlaps. What is needed is a strategy to clean up Lookalike Audiences and duplication errors often seen—this is commonly referred to as 'Facebook Nested Lookalike Audiences.' In this post we give you some practical steps for cleaning up your Lookalike audiences.
But first, here's a quick refresh on what Lookalike targeting is:
Lookalike targeting uses features common to the input (seed audience) to find similar users on Facebook. This similarity encompasses interests, click behavior and conversion behavior. The smaller the Lookalike threshold, the more similar the audience.
Use Exclusion Targeting
- Exclusion targeting eliminates audience overlap
- Target each Lookalike Audience in separate ads
- Exclude audiences with next highest match percentage from each ad
- Exclude highest reach Lookalike Audiences from all broad and interest campaigns
Maximize Returns
- At each Lookalike Audience threshold, as you step further away from your core audience, LTV should decline and CPI should rise
- Based on the above numbers, adjust your bid for each segment to maintain ROAS
- If you want to explore more, raise your bids in the outer thresholds
- If you want higher ROI, target the inner thresholds
Keys To Success with Facebook Nested Lookalike Audiences
- Exclude highest reach Lookalike Audiences from all broad and interest campaigns
- Bid true value for each audience segment
- Update Custom Audiences every two weeks
