Q. How do Custom Audiences and Lookalike Audiences relate?

A
They are completely unrelated tools
B
Both refer to the same concept with different names
C
Custom Audiences are subsets of Lookalike Audiences
D
Lookalike Audiences are built based on a Custom Audience or other existing audience source
Solution:

The lookalike feature requires an existing audience (like a list of customers) Facebook then uses that as a model for similar people In short, lookalikes are generated from custom (or other).

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