LinkedIn is shaking up its ad targeting game by bidding farewell to Lookalike Audiences, a move that may redefine how advertisers connect with their target audience on the platform. Effective February 29, 2024, Lookalike Audiences will be discontinued, pushing advertisers to explore alternative targeting options.
According to LinkedIn, Predictive Audiences serve as a viable alternative. This feature allows advertisers to create a lookalike audience using data from LinkedIn's Lead Gen Forms, app contact lists, and conversions data from the Insight Tag. Although similar in concept, Predictive Audiences are more confined to LinkedIn-specific data, potentially yielding more precise results.
Another recommended option is "Audience Expansion," which broadens your reach by targeting users with related interests. LinkedIn explains, "Discover new quality prospects and automatically drive them into your marketing funnel by expanding your audience based on shared interests."
While this change may seem significant, LinkedIn emphasizes that its ad targeting systems are continually improving. The shift away from lookalike targeting via external data sources suggests that LinkedIn's proprietary tools offer enhanced benefits.
While the impact of this change might not be seismic, if you've relied on lookalike audiences in the past, it's time to adapt your approach. LinkedIn is evolving, and embracing Predictive Audiences and Audience Expansion could be the key to unlocking new possibilities in your advertising strategy. Stay tuned for more insights as we await further details from LinkedIn on this transformative shift.