Meet our Beta Program: Thinkalike® Targeting for Facebook
Updated: Feb 29
Incremental improvements where you need them: Facebook Ad Targeting
Facebook advertising is the holy grail of direct-to-consumer (D2C) marketing plans. It is crucial for D2C brands to find consumers where they are and to speak their language to capture their attention in an increasingly crowded digital market. Facebook is excellent at this, capitalizing on their trove of user data to provide advertisers with precise targeting tools and audience insight.
If you use Facebook for advertising you have likely heard of lookalike audiences, the method of finding an audience that “looks like” an audience you already have or you desire. The concept is great, provide Facebook with a segment of the customers you want more of, and Facebook will find them, expanding the top of your funnel, but none of it works unless you seed the lookalike well. Recently, marketers have also been challenged by lookalike targeting’s sky-rocketing cost, causing many D2C marketers to move away from it in favor of more cost-effective tools and neglecting the top of their funnel.
This is where Pinpoint Thinkalike® targeting comes in. Thinkalike® targeting optimizes seed audiences by personality upfront so that the lookalike starts smarter, and understands the different psychologies of your best customers so that you can look for them separately, ultimately yielding a better overall CAC and getting the most out of your Lookalike campaigns.
How it works: Quantitative psychology and machine learning
Let’s dive into how Thinkalike® targeting works. To begin, Pinpoint analyzes your CRM for your best customers based on amount spent, order size, and order frequency. Once high value customers have been isolated from the total customer base, their personalities are analyzed on 35 dimensions using Pinpoint’s proprietary psychometric analysis. Your best customers may be purchasing at the same rate or spending a high amount, but have psychological differences and motivators that lead them to take high value actions. Using quantitative psychological analysis, we can reveal that your best customers are not, in fact, one homogenous group, but rather several distinct groups with distinct attributes. Pinpoint applies proprietary machine learning models to detect patterns in the psychological traits of your best customers to group and cluster them into significant, likeminded segments. These segments are then used to seed lookalike campaigns as segments built with psychological cohesion to lead to a smarter, stronger lookalike campaign.
While a powerful tool, lookalike can only perform as well as the data fed into it. If you feed it a disparate group with many features and traits (that you may not even be aware of), lookalike will spend time and ad money conducting its own experiments to determine which features of the seed audience you are actually trying to target. Comb out these discrepancies and refine the audiences psychologically before feeding them to lookalike, and your ROAS will rise and your CPA will fall.
How to join the beta program:
The Thinkalike® targeting for Facebook Beta Program is open to all Shopify merchants who have installed our free Shopper Personality app. If you sign up for the Beta Program (sign up here!), we will access your customer data through Shopify to determine your best customers, perform the psychological analysis, and build psychological clusters. The analysis is turnkey and requires no transfer of data or involvement on your part. Once completed, we will schedule a call to chat through our findings with you and talk about how to deploy the new audiences on Facebook. For a limited time we are looking for clients to join our beta program to receive these analyses and services for free. If you are interested or have further questions, please sign up at the link below.
Sign up here.