I can provide you some information to get started on this. You will need to do two things as listed below:
1. Algorithmic/Look-alike Modeling - It's an AAM feature that you can leverage to create look-alike audience - Here's a link that explains what it is and how to create the look-alike audience - Algorithmic Models
2. Facebook Destination - Create Facebook destination (URL Destination) in AAM to send the audience (audience created via look-alike modeling and/or any other audience/segment) to Facebook for targeting on Facebook. To get the configuration details for the Facebook destination, please reach out to the client care.
For #1 -- it sounds like we can definitely create a lookalike audience in AAM. Thank you for the explaination and link to the algorithmic modeling.
For #2 -- it sounds like you're saying it is possible to use an AAM audience for Facebook campaign targeting. But I can't find any documentation or examples of people doing it. Can you please point me to documentation/examples of how it can be done? Thank you!!