🤔 Google rolls out Lookalike Audiences: What you need to know?

Hi, marketing wizards!!!

Facebook's Lookalike Audiences have been the gold standard in social advertising for years. Google tried to compete with its "Similar Audiences," but to be honest, it never really gained momentum. Whether this was due to the nature of the networks it was used on (like Display & YouTube) or simply inferior data quality is still up in the air.

The end of an era and a fresh start

Fast forward to August, seasoned advertisers weren't shocked when Google sunsetted Similar Audiences. However, what caught us off guard was Google's new offering: Lookalike Audiences.

Here's what we're going to cover today:

1. Our first impressions while testing Google's Lookalike Audiences,

2. The nitty-gritty of setting up Google Lookalike Audiences,

3. Reach parameters.

Let’s dive in…

Our first impressions while testing Google's Lookalike Audiences: We noticed one trend

At Inceptly, we were cautiously optimistic about Google's move. We've been eager to test out the features, but first, there are a few key points you need to know:

1. Campaign types: Lookalike Audiences are currently only available for Demand Gen campaigns. When might they be available for other types of campaigns? Google's keeping mum on that one.

2. Double the mystery: Demand Gen campaigns are also a new addition to Google's arsenal, so we're dealing with two unknowns here.

We noticed one trend (similar to PMax): Demand Gen campaigns tend to go after warmer traffic - more on that in future newsletters.

Stay tuned - we're running tests and will share insights as soon as we have them.

The nitty-gritty of setting up Google Lookalike Audiences

Setting up Google Lookalike Audiences is straightforward. You can create them based on:

• Your existing customer lists

• Activity on your website and app

• Engagement on your YouTube content

However, your seed list must have at least 1,000 active, matched people for the Lookalike Audience to be created. Once set up, expect around a 3-day waiting period.

Reach parameters:

• Narrow: Targets 2.5% of users in your ad's target location, focusing on those most similar to your seed list.

• Balanced (default): Targets 5% of users, balancing reach and similarity.

• Broad: Targets 10% of users for maximum reach, albeit with a less focused audience.

Important note: You can only create Lookalike Audiences during the initial campaign setup. They can't be edited later or used in other campaigns.

Further reading & resources

For an in-depth understanding of how Facebook Audiences work, check out Antonio Garcia Martinez's explanation here. It's worth checking out if you are interested in this topic.

So, are Google's Lookalike Audiences a game-changer or just a flash in the pan?

We're on it, so keep an eye out for our updates.