The Most Cost-Effective Cold Audience
Well, let me tell you this is not true. There are a few strategies that you can try for as little as $5 a day, that can bring you lots of new customers through your doors, and by following these steps below, you’ll be able to try one of these strategies today for your business.
You may or may not know that you can upload a list of your current customers into Facebook (this is called a custom audience) and then you can create an ad and be able to show all your current customers a specific ad, whether that’s thanking them with a coupon code for their loyalty, or letting them know about a new product or service that you offer, or simply a brand awareness ad to keep your business top of mind.
Well, you could also have sent them an email to offer the same thing, and that would be much cheaper, right? So why would you upload that custom audience into Facebook in the first place?
There is another reason why you would do this. It has to do with… Lookalike Audiences.
By uploading your current customer list into Facebook, you can also let Facebook create a list out of your current customers that “look-alike” or are similar in interests, demographics, behaviors, etc. to your current customers, allowing you to obtain and target a totally new audience with the click of a button.
The crazy thing is, that you can even choose how “similar” you want this audience to look like your current customers. You can choose anywhere from 1-10%, 1% being the closest in similitude to your actual customers!
Once you create your lookalike audiences, you can go to your ads manager, and in the ad set level, choose the audience you just created and select a location. You don’t even have to put any interests or any other demographics. Facebook has already done this for you and will find you people who may be very likely to become your customer!
You can test your lookalike audience for $5/day and see which one gives you the best results. Remember to wait a few days before turning any ad set off, as the algorithm takes several days to learn who is your ideal audience; meaning don’t worry if you don’t see any results in the first couple of days. Check the ads regularly and see if the CPA (cost-per-acquisition) starts to decrease over time. Then turn off the ones that are under-performing or not performing well at all, and leave the rest, while testing new audiences, new creatives, new ad copy, etc.
Now you know how to show ads to an audience that is almost a clone of your current customers with little budget and increase your sales with this one simple strategy. Would love to hear your feedback. Was this simple to follow? Have you tried it yet? Let me know!