How do you target the right audience?

Finding the “right audience” is kind of like finding “the one” – you won’t know who they are until you’ve found them.
And, just like dating, there are infinite options to choose from. Technically there is a finite number, but it’s just as foolish to stop testing new audiences as it is to marry the first guy who asks you out on a second date.
Facebook advertising deals with real people who change their interests and behaviors constantly, so dive into targeting and audience-building knowing that your audience will change and your targeting efforts will have to adapt accordingly. People who have a need for your product or service today might not have the same need 60 days from now, and people who didn’t need you 60 days ago might be looking for exactly what you provide today.
TL;DR: Test new audiences and test them often.
There are 2 billion fish in the sea of Facebook, and – unlike dating – it is your duty as a marketer to *catch all of the fish who will buy
Facebook lets you choose who you’d like to target – that is, who you’d like your ad to be shown to – through characteristics Facebook collects about users from the information they provide on the site. You can build an audience to target certain characteristics like demographics, location, interests, and behaviors. This kind of targeting is called interest-based targeting (duh).
Interest-based targeting is a great way to promote your products, services, or brand to new prospects. If you don’t already have a wide network of clients and fans to advertise to, interest-based targeting is a great way to get in front of eyes of a new group of people who share the same characteristics as your current clients and fans.
While we will only cover the details of targeting implementation in this post, Digital Marketer put together a complete guide to Facebook Ad Targeting to help you create the strategy behind your interest-based targeting (i.e. how to research your audience and choose targeting characteristics accordingly).
You can also create an audience based on information about your current customers from files you upload to Facebook, from user engagement with your Facebook/Instagram page, or from information your tracking pixel gathers about your website or app. Creating a custom audience like this requires access to your customer files and a properly functioning tracking pixel.
To create a new custom audience, open Business Manager > go to “Ads Manager” > click the menu icon in the top left corner > click “All Tools” at the bottom of the menu > select “Audiences” under the Assets tab. This is where you can manage all of the audiences you target with paid advertising.