Mar 31, 2022
In Welcome to the Forum
When you create a target audience or customer segment for marketing and advertising your brand, the members of that audience have one thing in common: they all fit the profile of potential customers or buyers who might be interested in your mark. But that's not all these targets have in common. If they are businesses, they are likely facing similar issues, challenges, or needs. For consumers, they are likely united by similar demographics, common interests, geographic proximity, and other data points. Just as members of these target audiences have commonalities, they also have common characteristics and interests with targets beyond your current remarketing list. If only you could use the characteristics of your current remarketing list to identify a whole new audience, right? Here's the thing: you can! Using sophisticated machine learning, Google Ads and other advertising platforms can generate what are known as "similar audiences". Here's a closer look at this targeting tool and how it can benefit your business. What are lookalike audiences in Google Ads? Lookalike audiences are custom audiences identified by their common characteristics with existing targets on your remarketing lists. In Google Ads, these Lookalike Audiences are referred to as Lookalike Audiences. When implemented correctly, they can be an incredible source of marketing value for your business. With lookalike audiences, your business can use data from an existing remarketing audience to Employee Email Database identify and engage new qualified consumers based on common data. By targeting qualified customers from the first point of engagement, your marketing campaigns are positioned to achieve higher click-through and conversion rates, which translates into a better ROI for your business. Benefits of creating Lookalike Audiences in Google Ads The benefits of creating Lookalike Audiences in Google Ads are comparable to the benefits your business could get from similar products on other advertising platforms, such as Lookalike Audiences on Facebook . Key benefits for advertisers include: Wider campaign reach: Lookalike audiences extend the reach of any campaign targeted to these new audiences, giving you more mileage for each campaign created. Better conversion rates: Because new audiences have commonalities with your existing remarketing lists, they tend to be more relevant than audiences identified through local targeting and other strategies. This brings the value of lookalike audience marketing closer to the high ROI offered by remarketing campaigns. Machine learning-based analytics and optimization: This approach to audience targeting would not be possible without the use of machine learning to identify the characteristics and data-driven composition of audiences likely to deliver value to your business. By using machine learning to analyze results, you can optimize your targeting strategy over time. Easier campaign management: Lookalike audiences do the heavy lifting for you. Once an audience is identified, you can easily connect your existing campaign and monitor results. Effective targeting: Lookalike audiences aren't based on one or two data points that users might have in common with your existing customer base. All available information is taken into account, which leads to greater efficiency in targeting your marketing campaigns. Cost-effective options for engaging new customers: The efficiency and ease of building lookalike audiences, combined with the high ROI potential for this type of targeting strategy, means this customer acquisition approach can become the one of the best uses of your marketing budget. When should you create Lookalike Audiences for Google Ads? In general, lookalike audiences provide value to any business currently using remarketing lists to engage their target audience through digital advertising platforms. If you're not already running remarketing campaigns, you'll need to do so first, as existing qualified consumer data is needed to identify lookalike audiences that represent high value for your efforts.