How to Create High-Quality Leads with Facebook Lookalike Audiences

In order to understand ‘The Rule of 1,000’, we have to understand Custom and Lookalike Audiences that you can create to target through Facebook Ads. 

Custom Audiences, also referred to as match or source audiences, give you the power to build your reach by targeting people who have already interacted with your business. Custom Audiences can be created from customer lists like newsletter subscribers or past customers, website traffic, or people who have already engaged with your business on Facebook or Instagram. 

Most importantly, Custom Audiences can be used to create Lookalike Audiences.

Lookalike Audiences can include new potential fans, followers, and customers who share key characteristics with your existing following, your Custom Audience. With Lookalike Audiences, you are able to target people, or leads, who are most likely to be interested in your business, engage with you through Social Media and become loyal customers.

When compiling data for your Custom Audience, you must always remember ‘The Rule of 1,000’. 

When creating a Custom Audience, you must have at least 100 users. Again, those users can be your newsletter subscribers, past customers or people who have liked your Facebook page. With an audience that size, your Lookalike Audience will more closely match your Custom Audience but will not have the impacted reach you were hoping for. 

The same thing can be said for the opposite. If you create a Custom Audience made up of every single user, say 50,000 leads, that has interacted with your business, then you will have a larger reach but your rate of engagement will decline. 

In order to obtain high quality leads and increase the probability that you will reach an audience who will interact with your business, buy your products and in turn help spread awareness, your Custom Audience should be made up of 1,000 of your best and most engaged users. 

‘The Rule of 1,000’ ensures that your Lookalike Audience shares a certain level of similarity to your Custom Audience, which will lead you to better results and a higher engagement rate. It will also allow you to minimize your ad spend and maximize your return on investment (ROI).

So, when you want to reach new potential leads with Facebook Ads, start with creating a Custom Audience made up of at least 1,000 of your current followers. Then you can create a Lookalike Audience that shares key characteristics and will in turn engage with your business and become loyal customers. 

Always remember ‘The Rule of 1,000’, an easy way to generate new high-quality leads for your business! 

If this was helpful and you want to learn more, be sure to check out ‘10 Steps to Boosting Email Newsletter Subscriber Lists with Facebook and Instagram Advertising’, to learn how to create even smarter Lookalike Audiences and gain even more high-quality leads.