Glossary of Mobile Advertising Terms
Lookalikes or lookalike audience is a term used for specific targeting based on some similarities between the users. Various characteristics are used like age, gender, location, and many others. Lookalike targeting is often used when high-value users are discovered and you want to find similar users.
Depending on your needs, this method of targeting is useful for pretty much everything. It can boost brand awareness and it can even be used to target users that didn't finish the purchase in an app or a website (for example, an item is in the cart but the transaction is never finalized).
Lookalike targeting is especially useful when you want to make sure that your ads are reaching the right audience and when you want to expand your advertising reach. One of the most prevelant cases for ad monetization is the use of lookalikes to bring more Ad Whales.
There is a great case study with Nanobit on how they leveraged SOOMLA's data with Facebook to acquire more Ad Whales.
It works like this - information about your current users is used to find people with similar characteristics and behavior (usually done by ad networks). Everything that’s relevant is used, and apart from the usual ones (age, gender, etc.), information like user’s interests or recent behavior can also be used. For instance, app advertisers/marketers can use the app’s user data to find out more about their most active users. Lookalike targeting can be then used to find people that share similarities with the most active users in hope of converting those users to your customers.