What Is Lookalike Targeting and How Do I Put It to Use?
Regardless of your level of expertise when it comes to digital marketing, most brands understand the importance of setting up both prospecting and retargeting layers of your ad campaign. Prospecting helps drive new customers, while retargeting helps make sure you are working towards nudging those new customers to give your products or services a try.
But what many clients might not know about (at least when they first start out their FieldTest campaigns) is there is a superpowered hybrid of prospecting and retargeting...a bit of "The Best of Both Worlds" if you will...and we call that special targeting a Lookalike Audience, or LAL for short.
Now, if you have been running social media campaigns, you might have used Lookalike Audiences in the past. But they work a little bit differently with FieldTest. Instead of uploading a list of first party email addresses and trying to find similar customers that way, we are actually looking at the engagement of the ads and, more specifically, your conversions to identify how to best qualify who makes it into your LAL. We believe that while using any type of LAL should effectively boost your campaign, we are a bit partial to our approach. It depends less on someone's social media persona and what they like or whom they follow and taps more into their 'real world in real time’ interests, decisions and intent.
There is one important thing needed for a proper LAL: conversions! Whether those are purchases, email sign-ups, form submissions...in order to build an LAL we need to have a pool of actions taken to pull from.
So for established brands that are already seeing a few hundred conversions happening, the good news is that we will most likely be able to start with a LAL for you right out of the gate. For newer brands that have just launched, don’t worry: a FieldTest sales rep can help put together a strategic plan with you for how we can get you to the point where you have a strong LAL working for you.
Think of Lookalike Audiences as your ‘carpool lane’ to more conversions. Once you get up to cruising speed, you can sit back and watch your ROAS gain momentum.