Facebook now lets you create Facebook Lookalike Audiences based on customer lifetime value.
In other words, not only can you optimize ad campaigns based on how well users convert into paying customers, you can also optimize these same ad campaigns based on how much these paying customers bring to your business.
This is particularly useful for:
- E-commerce businesses, to optimize sales.
- Mobile app editors, to optimize in-app purchases.
- SAAS companies, to optimize subscriptions.
- Non-profits, to optimize donations.
Here is how to create Facebook Lookalike audiences based on customer lifetime value:
- Visit the Audience tab of your Facebook Business Manager:
- Get a better understanding of what customer lifetime value is and how you can leverage it to improve your campaigns:
- Accept Facebook Value-Based Lookalike Terms:
- Create your Facebook Lookalike Audience based on customer lifetime value:
What’s in it for Social Media Managers: even if you don’t actually run Facebook Lookalike Audience based on cutsomer lifetime value campaigns, you can learn a lot about who your most valuable customers are for targeting & publishing purposes.