Lookalike Audiences allow you to squeeze more out of what you've already established. In theory, Lookalike Audiences are “proven” versus creating something cold. That's because they're based on parameters that show user interest. Lookalike Audiences can easily supplement your existing ads.
Do look alike audiences work?
Facebook Lookalike Audiences are an excellent way to reach people who are similar to your existing customers and followers. When creating a Facebook Lookalike Audience, you can choose between a range of 1%-10% of the total population in your chosen target country, with 1% being those who most closely match your source.
Should I use lookalike audiences?
When Should You Use Lookalike Audiences? You should utilize Lookalike Audiences if you know what you're selling (such as a specific vehicle) and have a detailed list of past customers who have purchased that thing (AKA a list from your CRM).