If you have never run an ad campaign on Facebook's advertising platform - you are in for a treat. In this Facebook mobile ads overview - we will introduce terms like look-a-like audiences, custom audiences, Power Editor, conversion pixels and Facebook Insights. We'll review some of the literally hundreds of demographic, behavioral and interest targeting options. Tomorrow we'll cover some best practices including ABT (always be testing), tracking attribution and LTV, and mobile specific examples.
Facebook ad network lexicon
Let's looks at each and how they impact a user acquisition and retention campaign.
Not only does Facebook have a wealth of knowledge on their users, but they also partner with several sources of 3rd party data to provide targeting opportunities unique to the Facebook ad platform. Facebook partners with Epsilon, Acxiom and Datalogix to acquire a more complete profile of the Facebook user base. Specifically - Facebook collects data from the U.S. Census, warranty cards, registration information, the Department of Motor Vehicles, public record information, survey data and other offline sources. Facebook also gathers “U.S. consumer data on where consumers shop, how they shop, what products and brands they purchase, the publications they read and their demographic and psychographic attributes.” Demographic
In addition to more widely available demographic data like gender, relationship status, age and location - Facebook collects data and creates profiles for:
Here are a few examples of the type of targeting Facebook enables: Interest 
Behavioral 
A group of Facebook users that you create in one or a combination of the following ways:
You can then target even further based on the targeting options above.
Now that you have your custom audiences - you can try to recreate this audience. Exploring Audience Insights is valuable finding new ways to reach your target users - but not the best route for creating a broader target audience. 
The very best way to find an audience that is likely to respond like your Custom Audience did (signed up for email, visited a website, performed an action in your app) is by asking Facebook to find the most similar users across their network based on all the variables they track. Very cool, insanely useful. You can create a lookalike by reach or precision.
Part Two will introduce Insights, Retargeting and walk thru a few examples of using Facebook for a mobile app campaign.
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