Target on People More Likely to Convert and Increase Ads ROI !
You can generate “Conversion Lookalike Audience” on adHub to target Audience with high potential to convert, so as to increase your ads ROI. Function logic, using timing and our practice will be respectively introduced as below.
1. What is “Conversion Lookalike Audience”?
On the interface of adHub, you can easily create various kinds of Audience. adHub offer an API limited function within Lookalike Audience which is “Conversion Lookalike Audience”. This feature enables you to analyze the characteristics of those who have converted at Campaigns, Ad sets or Ads, create Lookalike Audience, and target them in a new Adset.
2.When will be the Best Timing Using Conversion Lookalike Audience?
Because the characteristics of Lookalike Audience and the converters are similar, Conversion Lookalike Audience applied in a campaign, which is also related to the original one, is more likely to motivate Conversions. Especially, when Campaigns promote similar products or serial products, the performance of Conversion Lookalike Audience will be even more remarkable.
From the perspective of marketing model, Conversion Lookalike Audience makes you accurately target on users who are interested in your products. Marketers used to test performance between Audiences by the results of brand market research or by segment market strategies. Then, they would put more budget on ads which perform better among Audiences to strengthen ads targeting. However, this way would be restricted by original Audience settings since this group of Audience might have been targeted by too much similar ads and already wearied of ads. With the help of Conversion Lookalike Audience, advertisers and marketers can stop be anxious, for Conversion Lookalike Audience isn’t working by targeting on same group of Audiences, but by finding possibly interested users when broadening Audience. Conversion Lookalike Audience not only increases ads Conversions, but also prevent ads from the under-delivery problem caused by inappropriate targeting strategies. Reference the picture seen below and read our case studies to thoroughly understand the logic of different Audience Targeting and the relationships between Targeting Marketing and the typical marketing funnel.
In purpose of helping readers to realize usage and using timing of Conversion Lookalike Audience, adHub practices a test, running 3 ads of same products from same online shopping website but marketing on different Audiences, which are audience excluding fans, Conversion Lookalike Audience, and Website Custom Audience. Conversion Lookalike Audience is based on similar products, well-performed ads; Website Custom Audience is based on users who ever browsed the product page. These 3 ads have same running schedule, creatives, copy , bidding type, and all of them are set to optimize website conversion to promote ads ROI.
Analyzing the Performance picture shows above, first we’ll find results of ads cost-effectiveness fit to the concept of Targeting Marketing. Since Website Custom Audience is a group of users who have browsed the shopping website, they belong to “Consideration” stage in marketing funnel, thus it is quite reasonable that ad of Website Custom Audience get the highest cost-effectiveness. Second of all, Conversion Lookalike Audience is closer to the stage of “Purchase” so it gains better cost-effectiveness than audience excluding fans. In the diagram of Average Buying Times, we find not much difference between Conversion Lookalike Audience and Website Custom Audience; while performance of audience excluding fans falls behind.
As the part of ads Reach, obviously Website Custom Audience reaches the least, while Conversion Lookalike Audience and audience excluding fans perform much alike. To sum up, targeting on Conversion Lookalike Audience is a fairly appropriate way to gain Audience with both quality and quantity. When paying attention to see ads CTR Link, Conversion Lookalike Audience outstands Website Custom Audience, shows that these audiences are indeed interested in relational products. Although clicking into product page doesn’t mean purchasing, users do consider to buy! Furthermore, this also increases the next population of Conversion Lookalike Audience.
After reading our article, we believe now you know better about ads Audience. When creating Facebook ads, it is hard to get the balance between Audience quality and quantity. However, Conversion Lookalike Audience fix this problem! It could search out bulk of audiences with high quality, bringing positive effect to ads performance.In addition, marketers should note that when targeting all kinds of ads Audience, it’s better to exclude each other. In our case, we should exclude Website Custom Audience when we target Conversion Lookalike Audience to avoid overlap.
If you are interested in our products and Facebook ads, please get in touch with us ! We have a lots of sophisticated marketers to help clients optimize their digital ads and maximize benefits with adHub, a tool to make advertising more efficient.
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