What is a Facebook Lookalike Audience?
A Lookalike Audience on Facebook is a new audience that is similar to your existing customer, or seed audience. This seed audience can be based on an uploaded list of existing customers, or even a Facebook pixel. A Lookalike Audience is a very effective way to reach new people who are likely to be interested in your product or service because they are similar to your existing audience. The similarity is based on facebooks algorithm based on the size of your audience.
If your lookalike audience (seed audience) has less than 1,000 people it is considered small. If this is the case, you can also add addition targeting layers like preferences and postal codes of wealthy neighborhoods if your product is premium, etc. You also may not need to run your campaign for lead captures because it is such a small audience and link clicks should work fine.