[Views expressed are my own]
What is happening? Everyone is trying to bang their head on the wall. Meta (formerly Facebook) is on a rollercoaster right now, especially after late June of 2023.
I was doing a fairly good ROAS until June, all my LAAs were working well, they used to give 10-12X ROAS on normal days, and used to get tons of engagements on my posts.
Why are Meta (formerly Facebook) Ads unstable after July 2023?
There has been no official communication from Meta but everyone is saying that they are unstable after Facebook released its new Ad Delivery platform called Meta Lattice.
What is the problem with Meta (formerly Facebook) Ads after July 2023?
The problem is they are insanely expensive, the CPMs that used to be under $10 are now double or even triple. The cost per click that used to be under 0.30 is now $1 with absolutely trash traffic.
Who is else reporting the unstable performance of Meta (formerly Facebook) Ads?
Multiple advertisers including Sean Frank from Ridge and David Herrmann from Herrmann Digital are reporting the instability issue of Meta Ads. There is a subreddit called r/FacebookAds on Reddit that has a ton of posts with regards to the instability of Meta Ads.
What is working in Meta (formerly Facebook) Ads after June 2023?
If you are a small e-commerce business owner then I would suggest going with interest targeting, remember that you should watch your metrics very carefully. Always know what you are doing.
I'm all ears if you need help. You can book some time with me using this link