A general definition of Lookalike Audience is an “algorithmically-assembled group of individuals who resemble, in some way, another group of members”. In the age of digital advertising, it refers to a new targeting tool, which helps to reach potential customers online who are likely to share similar interests and behaviours with existing customers.
Why consider lookalike audiences for your campaign?
Targeting plays a key role in the success and performance of campaigns. Although StackAdapt offers sophisticated targeting through our 1st-party, 3rd-party and PMP offerings, demand has been overwhelming to enable our clients to scale their campaigns further.
With lookalike audiences, you can expand to new people who are likely to have an interest in your business, even if they are not already familiar with you. Using lookalike audiences enables you to build your brand and engage new prospects who have the potential to become leads or customers for your business.
As a targeting tactic, lookalike audiences helps deliver more impressions to a relevant audience that is likely to click and convert. Since the lookalike audience has specific characteristics to make them ideal for your business, you know your ad budget isn’t going to waste on the wrong prospects.
Lookalike audiences also addresses one of the limitations of retargeting—volume. Since retargeting requires that the audience must have interacted with a website, the volume may not always be large. Lookalike targeting addresses that problem by using lookalike models to build larger audiences from smaller audience segments to create reach for advertisers.
How do Lookalike Audiences work in StackAdapt?
Lookalike Audiences in StackAdapt enables you to tag users with a pixel, and then leveraging millions of pieces of information about those users, target individuals that exhibit the same behaviour as those you’ve tagged. You can expand the reach of retargeting campaigns—by using lookalikes of the people who have visited your site, instead of only people who have visited your site. It can also be used to potentially increase conversion rates by targeting a campaign of lookalikes of users who converted.
Before a Lookalike Audience can be computed in StackAdapt, it requires 4,000 events—such as site or cart visits, conversions, or sales.
Lookalike audiences are an excellent way to reach people who are similar to your existing customers—if they love the product or service you sell, chances are people like them will too!
Want to build lookalike audiences? Request a demo to learn more about StackAdapt.