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Facebook has a new tool. It’s called “Lookalike Audience.”

If you are a Facebook advertiser, then you can create a custom demographic. Facebook then gives you the option to add a lookalike audience to your PPC advertising campaign. This lookalike audience will consist of Facebook users who match the demographic criteria of your custom audience who are also not fans of your Facebook brand page.

Convenient, eh?

I think so. This is a step forward for Facebook advertisers because it means that you can actually reach more targeted customers. More easily. More quickly. More cost effectively.

You can then turn those customers, with click throughs, into Facebook fans for your page. A certain percentage of those will then see your Facebook content and be able to interact with it. It’s a great way to grow your fan base, market your products or services, and increase your conversions.

In fact,

According to Inside Facebook, advertisers in the beta are seeing lower costs per action than with traditional targeting options.

Lower costs per action translates into higher profits. With this tool you can increase your conversions, lower your costs per action, and increase your profit margin – all while expanding your reach in a sensible cost effective manner. What more could you want?

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