Ever had that one perfect customer where everything just clicks? Right industry, right revenue, right team size… the dream client. What if there was a way that you could simply clone them? With B2B lookalikes, you can basically do just that!
In this guide, we‘ll break down how B2B lookalikes work and show you why it’s so important to have a tool with an AI-powered “Find similar companies” feature in your toolkit.
What are B2B lookalikes?
B2B lookalikes (also known as a B2B lookalike audience) are AI-generated lists of companies that match your specific criteria, whether it’s your target customers, existing clients, or leads. Those lookalikes all share common key characteristics with the companies you’re targeting or already successfully doing business with. In other words: they’re companies that offer you a high potential to make new sales, because they’re similar to customers or leads you’ve already acquired.
Think of it like Facebook’s lookalike audiences in B2C marketing. When you run ads, Facebook finds users similar to your existing audience. The same concept applies here, except instead of individuals, you’re identifying similar companies to your best customers.
Using a “find similar companies” feature is an important part of account-based marketing (ABM), a strategy that aligns your marketing and sales to target high-value prospects. With competitive intelligence and competitor analysis, you can focus on businesses most likely to convert instead of wasting time on bad leads.
How does AI help you find similar companies?
To generate a list of B2B lookalikes, marketing tools rely on data. In this case, the data is the list of target companies you upload, which is then matched against a much larger dataset of companies, using AI-powered algorithms.
The quality of the data determines how accurate your lookalike companies list will be. That’s why it’s better to work with a list of your actual customers, rather than just leads. After all, your existing customers are already doing business with you, so that means they’re a stronger indicator for finding the kinds of companies that are likely to buy from you in the future.
To make your B2B lookalike search as accurate as possible, it’s helpful to define an Ideal Customer Profile (ICP). This is a detailed description of the type of company that fits best with your product or service. Businesses that match your ICP are likely to convert faster, remain loyal, and become long-term customers.
If you haven’t defined your ICP yet, don’t worry! Later, we’ll show you an even easier way to identify your ideal target customers.
To define your ICP, answer the following questions:
How many employees does the business typically have?
What’s their average annual revenue?
Which industries are the best fit for your product or service?
Where are they located?
Add any other specific characteristics that are relevant to refine your ICP even further.
Define Your ICP and Find Perfect-Fit Companies to Target
Pinpoint your perfect-fit customers so you can focus on prospects most likely to convert, and drive better results.
Learn more
Once you’ve uploaded your data or list of companies, the AI takes over. It finds companies that exactly match the characteristics of your ICP. This works differently, depending on which platform you’re using. Here are some examples:
LinkedIn Matched Audiences: Matches your list against its user and company database.
Facebook Lookalike Audiences: Focuses on B2C data and user profiles.
Google’s Lookalike Segments: Uses your first-party customer data to identify companies with similar online behavior.
Sales intelligence software with a “find similar companies” function: Compares publicly available data from company profiles, backlinks, social media platforms and business databases (like corporate registries).
How to find B2B lookalikes and similar companies?
AI does most of the work, but you’ll still need to start with creating a list of companies to upload into your sales intelligence tool or ad manager (like LinkedIn Ads or Facebook Ads), or create a lookalike audience based on your existing audience on these platforms.
If you’re trying to target similar audiences on social media, you’ll need a relatively large list of customers, leads and businesses to import. The more data you can feed into the algorithm, the better its results. We’ll discuss this in more detail below.
But what do you do if you only have one or two companies that you’d like to “clone” in your customer base? You can’t just sit around waiting and hoping that a similar client will appear on their own. Sure, you can manually dig through Google searches, LinkedIn, and other platforms, but that would take ages. You can speed up your process by using a sales intelligence tool.
With Dealfront, for example, you can upload just one single company and generate a list of hundreds of lookalikes!
So, even if you don’t have a ton of data or a long list of companies to “clone,” B2B lookalike tools like Dealfront are a lifesaver. You can start with just a few companies and let the AI do the rest. Once you get your list of similar businesses, you can refine it even further based on specific criteria. Say you’re interested in targeting startups with at least 10 employees, or you’re targeting companies with a minimum revenue threshold. With a few filters, you can create the perfect B2B lookalike list that fits your business strategy and sales goals.
For even better results, input multiple companies instead of just one. Let’s say you’re targeting pasta manufacturers, but the company you enter also sells sauces. Your list of lookalikes might include sauce-only businesses. But if you add another pasta-only company, your lookalike audience will be far more accurate.
Plus, you can use your AI-generated lookalike company list for cold outreach, social selling, competitor analysis and more. Unlike LinkedIn Matched Audiences and Facebook Lookalike Audiences, where you can only use them for ads, a platform like Dealfront gives you full access to your list, so you can reach out directly.
Find key decision-makers in companies with one click
Access compliant contact information for the right decision-makers and reach out equipped with detailed insights.
Find key decision-makers easier
What data can you use to generate B2B lookalikes?
There are multiple ways to build B2B lookalikes, and you’re not limited to just your existing customers. In fact, you can use a variety of data sources to find similar companies that fit your target market. Whether it's a list of company names, leads, prospects, or even just businesses you’re interested in, AI can match them with the right lookalikes.
Let’s break down your options and see which approach works best for you:
Customer lookalikes
One of the best ways to generate B2B lookalikes is by using your existing customers as a starting point. If a company is already using and loving your product, chances are high that similar companies will too. That makes them prime candidates for your sales and marketing efforts.
Create separate lookalike audiences based on different customer segments. Your top customers (A-list clients) are the easiest to convert and bring in the highest revenue.
You also don’t have to stop at just your long-time customers. New customers can be a goldmine too. If you’ve recently acquired a client in an industry you hadn’t targeted before, B2B lookalikes can help you uncover even more companies in that space.
Lookalikes based on leads
Want even more high-quality leads? The “find similar companies” feature works wonders with lead lists, too. For example, businesses that downloaded your whitepaper, signed up for a trial, or requested a demo can be used to generate lookalikes. Since they’ve already shown interest, their B2B lookalikes are likely to be just as interested.
You can also use Sales Intelligence tools, prospecting platforms, or even purchased lead lists to expand your audience. AI will scan these lists and find high-potential companies that match your best leads, making it easier for you to efficiently scale your outreach with laser-sharp precision.
Lookalikes based on website visitors
Are you already tracking and identifying companies that visit your website? That data is perfect for generating B2B lookalikes. Once you’ve identified multiple website visitors and their companies, let AI take over and find similar businesses for you. Then all you’ve got to do is figure out which of these companies are actually high-value prospects and worth pursuing.
Use B2B user tracking with a scoring system to create lookalikes only from highly engaged visitors (those spending the most time on key pages, interacting with your content or returning frequently).
Lookalikes based on target customers
Another great approach is to select a few of your ideal customers (especially those in industries you haven’t fully explored yet). By running B2B lookalike searches, you can instantly uncover more companies that fit your target market.
If your sales team is structured by industry or region, these lookalikes can give them valuable market insights while saving time on manual research. Sales intelligence tools do the heavy lifting, so your team can focus on closing deals instead of hunting for prospects.
Lookalikes based on specific companies
Have a few dream clients in mind but struggling to find other similar companies? Maybe they aren’t even really leads yet, but you know they’d be a perfect fit. B2B lookalikes can help with that too. AI can analyze just a handful of interesting companies and generate hundreds of similar businesses, so you can expand your target list in no time.
Or maybe you’ve recently landed a new customer and want to look for similar opportunities? Immediately target lookalike companies and win them over with a tailored sales pitch and pricing, based on what worked before. Or use the insights you’ve gained to fine tune other strategies, like your market research, content creation, ad messaging, and SEO. The more you refine your lookalike strategy, the easier it becomes to scale your lead generation and outreach.
The benefits of a “find similar companies” search feature
As you can see, there are many ways to turn just a small amount of data into a valuable list of similar companies using a “find similar companies” feature. This can give you a major competitive advantage.
Even if you don’t have a huge dataset to begin with, with just a short list of companies, customers, or leads, AI-powered tools can generate hundreds of potential prospects for you.
Let’s take a closer look at the key benefits of an AI-powered “find similar companies” feature.
1. Saving time and resources
Manually searching for potential customers is time-consuming. It requires combing through search engines, social media, and various websites, which not only takes up valuable time but also pulls you away from more important tasks.
If you're in sales, spending more time on research than on actual outreach isn’t ideal. And if you’re managing a team, it’s worth asking: does it make sense for employees to spend hours on manual research, or would automating the process allow them to focus on what really matters?
2. Accessing high-quality leads
Qualifying your leads on your own can be tricky. Often, you end up with leads that are difficult to assess at first glance, requiring extra effort to determine whether they’re worth pursuing. This again can take up a lot of time and resources.
With B2B lookalikes, much of this work is already done. By focusing on companies that match your best customers or high-converting leads, you know from the start that your outreach is more likely to pay off.
3. Scoping out your competition
Have you ever thought of using a “find similar companies” tool to conduct competitor research? Try entering your own company and a few of your organic competitors. It’s a simple way to gain a clearer picture of the competitive landscape.
If you’re unsure who else is active in your market or which companies might pose a competitive threat, this kind of competitive analysis helps you map out the landscape and keep an eye on key players. It may also help you identify new competitors that you didn’t know about, or identify indirect competitors so you can enhance your strategy.
4. Gaining a competitive advantage
While others are still manually searching for potential customers and sales opportunities, you can get ahead of your direct competitors with AI-driven lookalike searching.
By reaching out to the right companies faster and with more precision, you position yourself as the go-to solution before your top competitors even make contact. This helps establish your brand, products, and services as the go-to choice for your market.
How can I get the most out of B2B lookalikes?
Now that you know which data to use for B2B lookalikes and the benefits they offer, the next step is putting them to work. How can you make the most of your list of similar companies?
This is where your marketing and sales teams come in. They can use the list for outreach, lead generation and targeted marketing strategies. Whether it's for cold outreach, ad targeting or sales prospecting, the choice is yours.
Define or expand your target group
As we mentioned above, you don’t need to have your target market and audience completely figured out to benefit from a lookalike search. The “find similar companies” feature of your sales intelligence tool helps you refine your ideal customer profile based on your existing clients.
This applies not only to your main target audience but also to more specific segments for different teams. Since you can generate as many B2B lookalike lists as you need, you have plenty of flexibility to experiment. This allows you to uncover new sales opportunities and define your target audience with even greater precision.
Generating relevant, high-quality leads
B2B lookalikes are a powerful option for lead generation because they help you target companies that closely resemble your best customers. Instead of wasting time on low-quality leads that were unlikely to convert from the start, you can focus on businesses that actually need your product or service.
Best of all, you can use the same successful use cases that worked for your existing customers to win over these lookalike companies, because they likely have similar needs, interests and pain points.
Using lookalikes for cold calling
Cold calling: it’s a classic sales tactic that can still deliver big results. And your B2B lookalike lists can be a powerful tool to make your cold outreach even more successful. Since the businesses on your list are already a strong match for your offering, your pitch is more likely to resonate.
To get the best results, make sure your sales team has a solid script and a clear value proposition tailored to the needs of these lookalike companies.
Using lookalikes for social selling
In addition to cold calling, B2B lookalike lists are also a helpful tool for social selling. They can help you find and connect with key decision-makers on LinkedIn, so it’s easy to start a conversation with the right person. It’s the perfect way to start networking and engaging with your target audience in industry discussions.
Using B2B lookalikes for advertising
B2B lookalikes are also a great way to fine-tune your advertising strategy across multiple channels. Now that you know exactly who your target customers are, you can craft ads that speak directly to their pain points and needs. Depending on your product or service, some platforms may work better than others. Of course, your budget also plays a role in determining how many ads you can run and where.
Beyond these options, you can upload your lookalike company list to Facebook and LinkedIn to create lookalike or matched audiences for highly targeted ads. Google’s Lookalike Segments feature works the same way, helping you reach even more potential customers that resemble the businesses on your list.
You can also use your list of similar companies from Dealfront for LinkedIn Ads. The advantage here is that, before uploading your audience, you can refine it based on revenue, employee count, and other key factors. Once uploaded, LinkedIn will ensure your ads reach employees at those companies, making your campaigns even more effective.
To take it a step further, LinkedIn’s advanced filters let you narrow down your audience even more by job title or department, ensuring your ads reach the most relevant decision-makers.
What are Matched Audiences on LinkedIn?
For B2B companies, LinkedIn is one of the most effective platforms for reaching decision-makers and targeting the right businesses. Its Audience Expansion and Matched Audience features allow you to run highly targeted ads by either uploading your own company lists or creating custom audiences based on metrics like website traffic or conversions.
This makes it easier to connect with potential customers who are likely to be interested in your product or service, helping you uncover new sales opportunities directly on LinkedIn.
How to create Matched Audiences on LinkedIn
LinkedIn no longer offers an automatic Lookalike Audience feature, but you can still effectively target similar companies using Matched Audiences and other advanced targeting options. Here’s how:
Log into Campaign Manager and select the correct account if you manage multiple.
Click on the Account Assets tab.
In the dropdown menu, choose Matched Audiences.
Click Create Audience, then Upload List > Companies/Contacts to target a custom list.
If you’ve already uploaded a list, refine your targeting using LinkedIn’s demographic and firmographic filters (such as industry, job title, company size, and location).
You can also retarget users who have visited your website, engaged with your content or interacted with previous LinkedIn ads.
Once your audience is set up, it may take up to 48 hours for LinkedIn to process and match the data.
What are Lookalike Audiences on Facebook?
Unlike LinkedIn’s Matched Audience feature, which relies solely on the company lists that you upload, Facebook offers a Lookalike Audiences feature that automatically finds relevant audiences for you. This helps you expand your reach by finding new users who share characteristics with your existing audience. With just a few clicks, Facebook generates a broader audience that you can then target with ads.
However, keep in mind that Facebook is primarily used for B2C marketing, so it may not always be the best fit for B2B lead generation compared to other platforms.
How to create Lookalike Audiences on Facebook
To set up a Lookalike Audience on Facebook, follow these steps in Facebook Ads Manager:
Go to Audiences in Facebook Ads Manager.
Click Create Audience.
Select Lookalike Audience.
Choose a source audience. This can be an uploaded list of customers or leads, or an audience based on website visitors or engagement with your Facebook. (Note: Your source audience must contain at least 100 people from the same country for Facebook to generate a Lookalike Audience.)
Select the countries or regions you want to target.
Choose your audience size on a scale from 1 to 10. A smaller number (1-2) results in a highly similar audience but with less reach. A larger number (8-10) gives you broader reach but less similarity to your source audience.
Once created, it may take 6 to 24 hours for your Lookalike Audience to be ready.
What are Lookalike Segments in Google Ads?
Google Ads offers a feature called Lookalike Segments for Demand Gen campaigns which can help you to reach new users who are similar to your best customers. This feature works by analyzing a “seed audience” and finding users with similar behaviors, interests, and engagement patterns. The only drawback is that you have to create Lookalike Segments yourself, as with LinkedIn Matched Audiences.
How to create a Lookalike Segment in Google Ads
To set up a Lookalike Segment in Google Ads, follow these steps:
Log into your Google Ads account and navigate to your Demand Gen campaign.
In the Audiences section, select New Audience and choose Lookalike Segment.
Select your seed audience: This can be a list of past customers, website visitors or engaged users, or a list generated by your sales intelligence platform, as long as it is correctly formatted and aligned with Google’s rules.
Choose your geographic targeting by selecting the country or region where you want to apply the Lookalike Segment.
Adjust the segment size based on your goals:
Narrow (2.5%): A highly precise audience that closely matches the seed list.
Balanced (5%): A mix of similarity and broader reach.
Broad (10%): A wider audience that still shares some key traits with the seed list.
Save and apply the Lookalike Segment to your campaign.
Ready to boost your acquisition with B2B lookalikes?
To sum it up, B2B lookalikes are a major advantage for marketers and sales teams. If you have the right tools, they’re easy to create and you can sit back and let AI do the heavy lifting for you.
Even if you only have a few companies you'd like to find similar businesses for, high-quality sales intelligence tools can generate a lookalike list in no time. The “find similar companies” feature can help you grow your audience faster than ever.
No matter if you're looking to replicate your first success with a new customer or scale by targeting similar businesses to your existing clients, B2B lookalikes offer real advantages.
Get ahead of your company’s competitors, save time, and resources and streamline your sales strategy all with just a few clicks. Give it a try!
Identify and land your dream customers
Find the right prospects, accelerate your sales pipeline, and land your ideal customers even faster.
Start Sales Prospecting
