Lookalike audiences are a Facebook segmentation tool that finds users whose demographics and interests are similar to those of your existing followers. These are easy to create and implement, making them an extremely powerful marketing tool for efficiently finding high-converting users.
While you might have a good idea of who your ideal customer is, lookalike audiences dissect your existing followers and user base to find their commonalities. Facebook leverages its massive trove of customer data to connect the dots between your target audience, helping you find highly-qualified users you previously wouldn't have been able to reach. Most importantly, this informed targeting optimises your media spend and lowers the cost of acquisition in the process.