Look-alike audience modeling is the process of finding audiences that are similar to your current target audience (also known as seed audience or existing customers). You have to analyze the current audience, identify their key characteristics, and find users that look alike, have similar interests, or behave the same.
Brands usually have a couple of customer profiles that resemble their perfect customers. However, there are not so many 100% matching customers. Therefore, it makes sense to target a wider pool of people. Look-alike audience modeling helps marketers to achieve that goal exactly.
The modeling is mostly done with the help of data, machine learning, and modeling websites. You have to let the platform analyze the data about your existing customers, it will give you the similarities, and profiles of look-alike audiences. After that, you are free to go explore more relevant customers.
Since such platforms use the best machine learning algorithms, you will get more accurate results as if you have been doing it on your own. Using the key similarities in behavior and interests, you can also create more personalized advertisements and gain more conversions. Overall, you will spend less time modeling and less money on targeting irrelevant users with irrelevant ads.
