Lookalike Audience
Target people most like your established customers. Lookalike audiences take several sets of people as seeds then we build an audience of similar people. You can use lookalikes for any business objective: Targeting people similar to your customers or newsletter subscribers.
What is a Lookalike Audience?
Lookalike audience targeting is based on the idea that people who are most similar to your existing users are most likely to convert.
This algorithm takes into account many facets of information we have on users, information which transcends simple user input data and includes inferred attributes.
We then extrapolate patterns to build a larger Lookalike audience of users that most resemble the patterns inferred from the seed audience. Fair warning: since the Lookalike algorithm is mostly black box, it requires you to give up some control over who ends up in your target audience as you have less ability to explicitly choose the targeting parameters for each audience.
The initial set of audience data, known as Seed audience data is vital for reaching a large group of audience. Seed audience data is obtained from different important sources like online, offline CRM, purchases and other digital sources. This process allows you to build a large audience base from multiple smaller segments and this can improve the reach of advertisers by a huge margin.
Seed audience data is analyzed along with DMP first-party and third-party data; it optimizes your results for lookalike audiences.
Benefits:
- Increase in qualified leads
- Increase in audience engagement rate
- An uplift in sales revenue
- Increase in Cost Per Engagement
- Increase in conversions
- A decrease in Cost Per Acquisition
The main objective for building a Lookalike audience is to discover new prospects that can amplify the reach of your business, it allows marketers to increase their campaign reach with every campaign. The lookalike process brings in a more similar audience and this can increase the conversion and ROI.
Extend: Identify a large group of qualified customers with similar attributes
Activate:Extend the reach of retargeting by delivering perfectly targeted ads
Reach and target in-market audiences who are most likely to convert
Automate and scale further using seed audience data