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Facebook Launches Acquisition Tool

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A few days back, Facebook launched an advertising tool, which is designed to help marketers to reach new audiences that share characteristics and interests similar to their current fan base. This tool basically uses targeting feature ‘custom audiences’ and allows the marketers to take their current customer lists and show ads to those people on Facebook.

The main benefit of this tool is that it helps brands to acquire new fans, build awareness, increase registrations with their sites, increase coupon redemption and finally sales. One of the main benefits of this tool is that it allows marketers to grab information from their current customer databases such as user IDs, email addresses and phone numbers and then present those customers with ads on Facebook.

Facebook had been testing this tool with a select group of brands and has received a good response specifically with a trial design company, which drove a wide range of success metrics. This included lower cost per acquisition, larger purchase size and increased return on investment. The social network also clarified that it will not share any kind of personal information with the advertisers.

The main benefit of this tool is that now with lookalike audiences, the marketers can simply serve any kind of Facebook ad to their potential customers who share the same interests or demographic groups as their existing customers. Now the marketers can optimize their Facebook Ad campaigns to these groups for two options, which are ‘similarity’ or ‘greater reach.’

The first option, similarity will include the top 1 per cent of people in brand’s selected country most similar to their custom audience. The other option, greater reach includes the top 5 per cent of people that are similar to their current audience.

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