One great way to bring in new customers is through advertising to lookalike audiences.
Lookalike audiences are just what they sound like—they’re a group of people who behave like another group of people, such as your best customers. You can build them in a number of different platforms. Facebook can automatically build these audiences for you, you can also use Google’s platform (with a feature called Similar Audiences), or, for example, you can use Salesforce DMP to have Salesforce build lookalike audiences using Einstein-powered models based on your own data.
One of the most common acquisition use cases for retailers is acquiring new store visitors. So the best target for such acquisition campaign are people who are similar to your best existing store visitors.
How to implement it (on Facebook advertising)
The procedure follows the same steps described in the article "Boost Store Visits with ads", leveraging Facebook custom audiences.
The difference is that in this case, our goal is to acquire new customers so we'll leverage the custom audience extracted by Cloud4Wi to create a lookalike audience.
How to measure success
When you create an acquisition campaign targeting a lookalike audience created using Cloud4Wi data as a seed, you should expect a higher conversion rate.
You should compare the CTR and average cost per click of your existing similar acquisition campaigns with the campaigns built on the Cloud4Wi data.