Data is Gold: How Lookalike Audiences Can Boost Your Conversions
Lookalike audiences are an effective way to extend your brand’s reach and boost conversions. When used in digital campaigns, they allow your company to reach a targeted network of relevant potential clients and establish a strong digital presence. Lookalike audiences are extremely valuable, in that they can improve your audience targeting and ultimately increase your engagement and conversions.
What are lookalike audiences?
Facebook and LinkedIn lookalike audiences are sophisticated matchmakers between your brand and new clients. Lookalike audiences are developed by leveraging your current audience data to find other highly qualified users you previously wouldn’t have been able to reach. Instead of straining your team’s time and resources by manually searching for new audiences, these systems provide data for extended audiences that match the attributes and preferences of your current audience.
How to build lookalike audiences
- Know your audience.
You can only create valuable lookalike audiences if you already know your audience. Lookalike audiences provide an extension of data based on the audience you already have, so it is very important to properly identify your current audience and have the right persona. The more refined your current audience data is, the better your lookalike audience(s) results will be. Read more about developing a highly detailed persona here.
2. Refine your data.
Obtaining data on your audience, which you can then use to develop lookalike audiences, can be done using either first-party, second-party (business partners’) or third-party data.
Data can include information such as name, surname, gender, date of birth, country of residence, etc. You may have multiple audiences that you are looking to market your brand to, so narrowing the scope of your audience can help to create refined groups of lookalike audiences that target specific audience segments. For instance, you can specifically target wealth advisors in Toronto or business owners in New York.
3. Start reaping the benefits!
Lookalike audiences extend your brand’s reach to a curated list of relevant people who are highly likely to be interested in your product or services. As a result, lookalike audiences:
- Generate high-quality leads: Data is gold! Having data on potential clients is extremely valuable in generating new leads.
- Increase your return on investment: You can increase conversions when your content targets a wide group of relevant potential clients. Lookalike audiences extend your reach to people who are most likely to engage with your product or service.
Want to see a real-world example of how lookalike audiences can accelerate your business growth?
Ext. Marketing recently worked with a leading wealth advisor to expand client outreach strategies though a dynamic lead-generation campaign. With the help of Ext. Marketing’s audience segmentation, cohesive digital marketing strategy, and ongoing optimization and retargeting, the advisor established a strong presence and successfully connected with previously inaccessible prospects. Click here to read more about this advisor’s success story.
Looking to boost your brand reach and increase conversions? Ext. Marketing can help. Book a meeting with us today to discuss how a digital campaign can accelerate your business growth. info@ext-marketing.com