What are best practices for creating Facebook Lookalike audiences?

Question

Which are the best options/audiences that work in your Facebook Campaigns?

Which examples do you suggest to test and try?

Answer 1

To create those lookalikes, first I create a Custom Audience with all the events that for me bring the most value for the game. This audience of "Most Engaged Users" includes Top10 of the most active users, plus users that did purchases, plus users that reach some level, etc.

After that, I create two lookalikes based on this custom audience, small (2-3%) and large (8-10%). Then I use each lookalike in a different AdSet with Campaign Budget Optimization turned on.

Answer 2

Hey. We usually do certain engagement of a player in the game (except payers). Take a look at these examples, maybe some of them will help you:

PAYERS:
- top 250 payers (in certain month)
- 2+ special offers bought (in last XY days/months)
- XY soft currency bought (in last XY days/months)
- whales
- engaged payers - players with 10/20/30+ logins in last XY days & made a purchase
- top 10% purchasers (in last XY days/months)
- single pay over xy UDS (in last XY days/months)  - single payment over 20, 30, xy USD

ENGAGED:
- XY+ quests achieved in the game (in last XY days/months)
- XY PVP matches played
- engag with high LVL - e.g. all players with level 100
- XYZ+ logins in 1 day - (in last XY days/months)

Also, we use 1, 3, 5 or sometimes even 10% lookalikes. Definitely worth trying, since different lookalikes % tends to work for me in different games. 

Take a look here - https://lancaric.me/how-to-use-facebook-lookalike-audiences-the-complete-guide/