Facebook Rolls Out 'Lookalike' Targeting Tool

Facebook has launched a tool called Lookalike Audiences, to enable marketers to reach individuals who share similar characteristics with those of existing customers who they are targeting through the social network.

The feature has been developed on the back of Facebook's Custom Audiences tool, which helps marketers take their current customer lists and deliver ads to those people on Facebook.

Through the latest product, Facebook can use attributes such as interests or demographics to show ads to people who share common attributes to their existing customers.

In a statement, the company said: 'We've seen this new type of targeting drive a wide range of success metrics for direct response companies like Fab, including lower cost per checkout, lower cost per acquisition, larger purchase size and faster and increased return on investment.'

Web site: www.facebook.com .