[cm2012]

I manage millions in ad spend. Targeting with individual, manual options is not efficient for most advertisers. Most performance advertisers target using lookalikes and algorithmic targeting based on optimizing for conversions.

[louisv]

This is 100% correct, but this list is more about knowing if some ad platform can be a good place to launch ads to a cold audience (that are more targeted for the product) - because, after a while, every single one of the 6 ad platforms allow for lookalike audiences and those will be much more profitable.