Madgicx's Audience Studio is a tool for creating and analyzing powerful interest-targeting audiences. You can use it to launch audience combinations instantly, or save and launch them at any time through the Ad Launcher.
This is where you can see all your current audiences and their performances, or discover new audiences.
This feature has two tabs:
This tab shows all your existing audiences, their sizes, and their performance KPIs. It shows the following audiences if you have them in your account:
This tab allows you to discover new high-potential interests by using the search bar, which brings up related interests by keyword.
You can also find new ideas for audiences you haven’t considered by clicking the Discover Similar button, which will find simlar interests to the ones you have selected.
The Audience Mixer allows you to combine interest-targeting audiences and create audience intersections. In other words, create mixes of different audiences that are optimized for your account.
You can use the Audience Mixer:
- For custom and LLA audiences existing in your account.
- For new or existing interests that performed well in the past.
- To intersect interests with new interests, beyond custom and lookalike audiences.
- An exclusion container to avoid inaccurate targeting.
The intersection boxes allow you to change how the audiences are combined. For example, if you add 2 interest targeting audiences to the first box, you will create an OR intersection, which is an audience of people who are interested in 1 or more of the audiences. However, if you drag one interest to the second box, you will create an AND intersection, which is an audience that includes only people who have both interests.
You can also mix your existing audiences with new interests. However, the Audience Studio will automatically create an AND intersection between the existing audiences and the interests. The result will be an audience which includes people who are in both categories, which narrows down your audience and increases accuracy. You can drag and drop your interests into the second intersection, which will narrow down this audience even further by creating a second AND condition.
How to use Audience Studio to create optimized audience combinations.
You can also check out this click-through tutorial.
Open Audience Studio through the Madgicx menu or the link above.
In this tab, located in the upper left corner, you’ll be able to see your existing audiences and add them to the Audience Mixer.
You can select your custom, interest, and lookalike audiences. Use the dropdown arrows to sort your results by the KPIs that are most meaningful to you.
Use this to locate existing audiences by name. 🧐
View one audience type at a time or view all audience types simultaneously by selecting one of the options.
Expand the number of audiences in the view by expanding the time frame.
Select which audiences you’d like to include or exclude for the creation of a new audience in the Audience Mixer widget.
Sort audience features from high to low (or vice-versa) by clicking on one of the arrows to the right of a column’s name.
Refers to whether an audience belongs to one of the following audience types: Interest/Custom/Lookalike.
The metrics are adjustable and allow you to sort possible audiences according to each of the column’s KPIs. In the picture above, the selected metrics are Amount Spent, ROAS (All), Cost per Website Purchase (All), and CPM. However, numerous additional KPIs can be selected when you click on the dropdown menu. 🙌
Refers to the number of users that make up a particular audience.
Click the Discover New Interests tab in the upper right corner to see more interests based on your existing audiences. Try searching for an interest using the search bar to get related interests that you might not have considered before.
Once you’ve made your selections, you have the option to go back into the ‘Explore Audience by Performance’ tab and use the ‘Discover Similar’ button to find optimized results relating to the interests you chose.
Madgicx will generate a list of additional interests for you to choose from below based on the interests found in your existing audiences.
Type in any keyword and see the suggested and related interests.
Select specific locations for more accurate targeting.
Click on these boxes to include or exclude certain interests from the creation of a new audience.
See the number of users that make up a particular audience.
See whether this audience consists of interests or demographics.
See the wider categories this audience exists in.
The audiences and interests you have selected will all appear in the Audience Mixer, allowing you to create intersections.
Try to drag an audience to the 1st intersection to create an AND intersection and see how it impacts the potential reach.
Audience Group: This will show all audiences that were chosen from the Existing Audience tab.
Interest group: This will include all selected interests and will intersect the rest of the groups with an ‘AND’ connection.
This will intersect and narrow down the audience even further by creating another ‘AND’ relationship between these interests. It will ensure that the second intersection must be met.
The option to exclude specific interests or audiences with poor performance, or both.
The approximate reach of this audience.
Saves the audience as a preset so it can be used later on from the Madgicx Launcher.
Scroll up to the top of the Audience Studio screen and select Launch.
This will prompt you to save the audience before launching. In subsequent steps, you’ll set up this audience using the Madgicx Launcher, which will continue through the usual audience creation steps.
Once you reach the audience setup, you’ll choose the audience that you saved, as seen in the image below.
You can select ‘Detailed Targeting Expansion,’ which will reach people beyond your detailed targeting selection if it’s likely to improve your performance.
If you prefer to launch your audience at a later time, you can save your audience as a preset. When you’re ready to launch your audience, you can simply head into the Madgicx Launcher and select the newest Madgicx audience called ‘Interest Targeting & Audience Mixes.’ Once you select this audience, you will continue to set up the audience through the Launcher.
The owner of a wellness juice brand wants to create an interest targeting audience and reach new potential customers. Here’s how it can be done using Madgicx's Audience Studio.
The business owner decided to take their existing audiences and find members from them who are interested in wellness. To do that, they put their existing audiences in the 0 intersection and included some wellness-related interests in the first intersection, such as Fitness, Juice, CrossFit, and Superfoods. This will result in an audience of people who are included in existing audience lookalikes, AND who are interested in wellness as well.
However, they wanted to make sure members of this audience would be interested in their product. For example, someone that is interested in juice may not be interested in wellness. So, to ensure that the audience is accurate, they added two more interests to the 2nd intersection: Yoga and Smoothies.
While the new potential reach might be smaller, they will benefit from reaching people who are closer to the target audience. You can find the ‘potential reach’ at the bottom of the widget. For this audience, it will be approximately 290K.
The Audiences you create with Audience Studio are very powerful, but they have an issue—they make it hard to gather insights about individual interests. If a composite ad set is performing well, how could you know which interest is driving this performance?
Enter: the Blue Ocean Strategy. This is a strategy for creating interest-targeting groups and maximizing your insights while minimizing your cost.
It goes like this: You have an ocean of interests. Some of them are massively profitable, but it's hard to ‘catch’ the right one if you’re only targeting one interest at a time. With this strategy, you instead target several audiences with the same ad set and cast a wider ‘net’, so you're more likely to ‘catch’ the right audience.
The key is to group the interests by categories. Some great ideas are similar brands, competitors, relevant magazines/media outlets, and general interests on Facebook, such as "Fitness and Health."
You can also look at related industries. For example, if you sell luxury fashion, then people interested in luxury jewelry might also be interested in your products.
You should launch these ad sets (4-6 is an adequate amount to test), gather insights, and repeat. Scale the audiences that work, pause the ones that don’t, and experiment with new categories.
This seems time-consuming, but after about a month, you will be able to understand which interests work best for your audiences and collect enough pixel data to generate stronger performance.
That's it! Now get to launching some new audiences with Audience Studio and get ready to seriously build your pixel data and scale your brand!