The Lookalike theory is that if Person A is a customer of yours, and
Person B has similar profile characteristics to Person A, then the
chance increases that Person B would also be interested in your product
or business because both people have exhibited similar interests.
Now, think about how many hundreds or thousands of people you know
currently use or visit your business. Think about how massively awesome
it is that you could build an entire new target group based on what you
know about your buyers and sellers – what they like, how much they
spend, what kinds of sales are the most popular, etc. Think how
exponentially big that list could grow to in a short time based on
Pretty cool, isn’t it?
iSeries talks Facebook Lookalike Audiences
The National Auctioneers Association caught wind of this handy feature
awhile back, and it was lucky enough to have a current member – John
Schultz, ATS – who took the full Lookalike plunge more than a year ago.
Schultz and Grafe Auction, in Chatfield, Minnesota, decided to go all-in
with Facebook advertising (dropping print ad strategies along the way)
in 2014. The results were astounding and far better than expected.
Website traffic – up. Auction participation – up. Sales – up. All
because the company found a way to build off of its current buyers and
supporters and expand their extremely targeted base instead of hoping a
complete faceless public happened to drop semi-interested parties into
As part of its popular, free, 30-minute iSeries webinar program, NAA
dedicated a session in October 2015 (members can download the replay at
auctioneers.org. Under the “webinars” tab, click “Marketing with
Facebook.”) to having Schultz walk through how to set up a Lookalike
Audience. Before that, however, NAA decided to put the Lookalike product
to a bare-bones test.
Instead of relying on regular marketing vehicles, the decision was made
to build custom audiences on Facebook. An ad about Schultz and
encouraging registration to the upcoming iSeries would be served to two
Lookalike groups built from the custom audiences.
It was decided that one Lookalike group would be built from Facebook
users who like and follow the NAA Facebook page. The other group was
built based on current NAA members.
Each group was targeted for 9 days, at $5 per group per day. The result?
More than 400 clicks took interested users to the iSeries registration
page, and the campaigns had a total reach (how many people saw the
NAA/iSeries ad in their Facebook feed) of 24,464. The larger result was a
new record number of registrations for iSeries, with more than 300.
The NAA brand and iSeries program was seen more than 24,000 times with
more than 400 clicks. It was all done for a scant $95.23 – or about $10
per day. (Yes, all of that is a good thing.)
While there are some specific nuances that help further ensure a
successful Lookalike campaign, the bottom line is that auction
professionals now have a way to drill down in their buyer and seller
lists – leveraging them into a wider group that has never been so
How to build your custom Facebook audience:
1. At your Facebook profile page, go to the top-right corner and click
the small downward-facing triangle. In the dropdown menu, select “Manage
2. At the top of the page, click “Tools” and then click “Audiences”.
3. Click the blue box labeled “Create Audience.” From here, you can
upload emails, phone numbers, Facebook IDs, etc., or use other listed
ways to create your audience. Facebook combs its profiles and returns an
audience of those matches.
4. Once your custom audience is built, click that same “Create Audience”
blue button and this time select “Lookalike Audience”. You’ll add some
parameters for your list (including budget, size of list, etc.) at this
5. Facebook will create your list and notify you when the Lookalike Audience is ready.
6. On the “Audience” page, at the top right corner is a green “Create
Ad” button. Click it to build your Facebook ad, or use one you have
7. Target your ad using your newly created Lookalike Audience.
8. Repeat as often as you would like to upload a new list, create a new
segment, have a new ad for an old group… you can create as many lists as