Similar audience list would analyze and refine your audience group?
Google and Facebook have functions, very similar!
Once your site has more than 1000 visitor, you can create a list to collect data and then do remarketing. It is very easy to understand.
Both of them both also can create similar audience list based on customer list i mentioned above.
Facebook would say: their algorithm would learn and automatically add more relevant customers on this "similar audience list"
I probably can understand in this way that their algorithm would do the most of the optimization work that the advertiser would do before.
How about Google adwords?
I set up display champion by using Keywords, after collect enough data. I delete the keyword matching, then change to "similar website visitor" list.
Do i still need to optimize this champion? like, replacement, gender, location, display time etc.
Re: Similar audience list would analyze and refine your audience group?
A similar audience is created from a remarketing list with at least 500 cookies. The people in this audience are based on the specific topics or concepts that people —in aggregate— on one of your remarketing lists were browsing before being added to that list (over the last 30 days). This means that the similar audiences share characteristics and interests with your site visitors. Your similar audiences lists are automatically updated as the original list evolves and people change their browsing activity.
In my experience using similar audiences at agencies I have found that performance is significantly worse than the remarketing list that they are "similar" to. I have found this across all the channels that similar audiences can be used in. Due to this I would recommend utilizing available bid adjustments for placement, gender, location, display time, etc. This is an anecdotal recommendation so perhaps others can comment on their experience with similar audiences.
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