Businesses on Facebook will be better equipped to go international as the social media giant makes marketing on their platform much more effortless and cost effective with the introduction of two new tools.
The Lookalike Audiences tool is Facebook’s re-application of user data to target audiences most likely to act in the affirmative to an advertisement, promotion or an offer. Businesses can upload a list of customers or high potential leads, which Facebook will then use to target customers with similar online behaviour and activity on their platform.
Businesses can also tweak the targeting by choosing the Lookalike Audience to be ‘more similar’ or ‘less similar’ which will make the targeting narrower or wider respectively.
Also, the second marketing instrument enables a business to pinpoint their focus on a particular region and Facebook will target audiences from the territory for better yield. The territory that yields the highest returns will then be targeted by Facebook for better results in future.
As per statistics from Facebook, more than a billion people worldwide are connected to at least one foreign business, and approximately 60% of users from the United States are connected to a foreign business. This explains the social media giant’s efforts to facilitate business activities for brands on social media regardless of political boundaries.
Lookalike Audiences has already been put to use by a few business, such as Turkish fashion website, Modanisa and has proved beneficial for them.
"Facebook's international lookalike campaign helped us to reach niche audiences and customers all around the world. The focus led to significant increases in our acquisition ratios and supported our overall acquisition strategy." – Sami Güzel, General Manager & Partner, Modanisa, Turkey
As expected, businesses with international ambitions will be rejoicing as these new tools will offer enhanced returns at reduced costs.