Where can advertisers create Custom Audiences or lookalike audiences on Facebook?

Advertisers can create Custom Audiences or lookalike audiences in the Audiences section of Facebook's advertising tools. This area is specifically designed for audience creation and management, allowing advertisers to define their target audiences based on existing contacts (for Custom Audiences) or by using the characteristics of a source audience (for lookalike audiences).

By navigating to this section, advertisers can leverage their customer data and Facebook's targeting capabilities to reach similar users who might be interested in their products or services. It is a crucial step in optimizing ad campaigns for better engagement and conversion rates.

The other options, while relevant to the advertising process, do not serve the purpose of creating audiences directly. Business settings are more about managing account-level settings and permissions. Ad manager focuses on campaign creation and management rather than audience setup, while Insights provides performance data and analytics on campaigns already run but does not facilitate audience creation.