Lookalike Audiences for B2B

Nick Arnaiz
November 22, 2019

What is a lookalike audience?

A lookalike audience is a list of potential customers curated by artificial intelligence, based on key attributes pulled from your existing customer list. In other words, they ‘lookalike’ clients or businesses that are already buying what you’re selling.  

Lookalike audiences are already a familiar concept with B2C marketers who use them run highly-targeted Facebook ad campaigns.

 

Facebook Lookalike Audiences

The success of lookalike audiences lies in the available data. As the world’s most popular social network, Facebook has easy access to troves of personal data that can be differentiated and configured to create your “graph.”

Every page or post you like, every brand you follow, the information you share about your job, title, education and even day to day browsing activities, all of these data points represent your “graph”, Facebook’s version of your online persona.

Using predictive analytics, Facebook can take a list of your most successful customers and compare them against the entire Facebook user group. The result? A list of the top 1% of Facebook users who are the most similar to your valuable customers, your ‘lookalike audience’.

 

“Traditional” Audience Targeting 

Target Market: Men & Women, Age 20-32, USA, Professional

 

“Lookalike Audience” Targeting 

Target Market: Men, Age 28, East Coast Metro locales, IT Professional, Likes Bonobos, GitHub, StackOverflow

 

This targeting strategy has been so effective for digital marketers running B2C marketing campaigns, they frequently see decreases in acquisition costs of up to 50% or more.

Lookalike audiences are powerful – so why aren’t B2B Marketers using them?

 

Lookalike Audiences for B2B – Why Most Companies Can’t Do It

Lookalike Audiences are built with data. The more accurate the data, the more accurate the resulting potential customer list will be.

And therein lies the challenge. Good B2B data is hard to find. Here’s why: 

  • Broad B2B Data, No Depth  

Outside of broad attributes, like company size, industry, or location, the vast majority of companies don’t share specifics about their buying behavior. So the depth of valuable data for most companies offering demand generation services just isn’t there.

  • Working with Limited Available Data

The B2B data that is available might not be the *right data*.

Just because you’ve previously had success selling to companies with 10K+ employees, doesn’t mean that every company of that size is interested in what you’re selling. Or maybe you’ve had a good run of selling to companies based in Ireland. Does that mean you should be specifically targeting other businesses based in the Emerald Isle?

The data is there, but is it data you’re willing to bet the future of your company’s success on?

  • B2B Data Set, Holistically

For B2B data to be truly valuable, we have to be able to see in multiple dimensions, or ‘vectors’. Some of these vectors will already be familiar – number of employees, industry, annual revenue. The easy stuff. The info all your B2B competitors already have.

This is where things get interesting. Our LeadCrunch Data Scientists knew that building a true B2B lookalike audience required better data. Vectors like employee skill sets, educational background, tenure at the company, years of experience, and detailed profiles of company leadership.

With that data, crunched and finessed by artificial intelligence and human-verified for accuracy, LeadCrunch delivers predictive account lists that convert.

 

Keep your sales team happy.

Help your marketing team better target their campaigns.

Convert potential customers into long-term business relationships.

 

LeadCrunch Lookalikes – Demand Generation with Better B2B Data

LeadCrunch provides superior B2B demand generation on a cost per lead basis. No complicated tech stack. No integrations. No long-term commitments.

It’s not magic, it’s not a guessing game. It’s better B2B data, incredible artificial intelligence, and a team that’s passionate about helping you reach your goals.

 

LeadCrunch Case Studies

oracle bronco lookalike audience client

Oracle+Bronto

Improved Customer Acquisition cost by 67%, 23% improvement in lead velocity through the funnel.

Read the full Oracle case study 

 

 

commcreative demand gen client

 

CommCreative

Accelerated Client’s Sales Pipeline by 247% with a proven account-based marketing (ABM) strategy.

Read the full CommCreative case study

 

 

goshare logo

 

GoShare

Boosted sales by 300%. Improved ROI by 500%.

Read the full GoShare case study

Further Reading

Lainey Mebust
June 25, 2019
Olin Hyde
May 19, 2019
May 16, 2019