Lookalike targeting is a type of online advertising intending to reach people similar to an advertiser´s customers.
Basically the process of Lookalike targeting is organized in three parts:
- The advertiser produces a list of existing customers that represent a sample of their target audience.
- After the advertiser uploads the list, the marketing platform (social network, data vendor, predictive vendor etc.) detects these people among its database and analyzes the data it has about them to identify shared attributes
- The marketing platform locates people with similar features as the existing customers of the advertiser
This approach is very useful for campaigns where the advertising message as well as the target audience are clearly defined by the advertiser. Since Lookalike targeting allows advertisers to address prospects which are predicted to be similar to their existing customer base, it is much likely that these prospects turn into customers of the company as well.