Facebook Lookalike Audience Generated from Buyer List?

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In a recent product I purchased, a guy talks about how he markets mainsteam stuff (ie Skin cream) on facebook.

But before he does it, he gets the email addresses of BUYERS of that product.

He then uploads the addresses to FB and finds lookalike audiences, and scales it up, starting from 1 million, then 5 million, etc.

Has anyone done this before?

Does it work pretty well?

I realize that is a very vague question.. and it depends on a lot of things.. but is a pretty powerful method?

Or was this guy hyping it up?

I guess I am wondering HOW the lookalike audience works. I realize fb can get the age, gender, etc. to match the list, but.. what other data do they gather?
#audience #buyer #facebook #generated #list #lookalike

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