When testing audience lookalikes you need to make sure you have at least 100+ pixel events for their to be any significance in the quality of the audience you are building your lookalike from.
100+ pixel events?
It's best to use 1% lookalikes on higher funnel metrics such as engagements and pageviews.
This will ensure you have enough data to make lookalikes worth it.
1,000+ pixel events?
It's best to use 1% lookalikes on mid-funnel metrics such as view content, leads, and add to carts.
You can also, start to test the frequency on pageview and purchase to start increasing the quality of your audiences.
10,000+ pixel events?
It's best to start testing a variety of lower funnel metrics and to start segmenting your customer lists into lead qualified, applicant qualified, and purchase LTV.
You can also start testing users by time spent on your site, the specific pages they visited, the device they used, and the URL parameter they had appended in their URL.
Finally to expand audiences and opportunities you can start breaking your lookalikes out into 1-2%, 2-3%, 3-4%...
If you try testing these lookalikes as you get more pixel events you'll be able to find higher quality customers and leads much faster than standard audiences would ever get you.
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