Facebook lookalike audiences are a way to expose your brand to people who share similar traits to your current customers, and can therefore form an effective way to find and convert users who are more likely to be interested in your products and services. They’re a great way to generate brand awareness and leads. In theory this sounds amazing, however, in practice if you have a very niche segment of the market that you are looking to target, the reliability of lookalike audiences can diminish and you may want to consider focusing on retargeting audiences.