How To Troubleshoot Your Facebook Ads?
The common reason for an underperforming ad is your low daily ad budget. If you keep your budgets too low, you'll actually lose auction bidding.
I used this same approach to identify the issues with my six figures campaigns.
And remember, decisions should be made based upon permutations of the metric not solely based upon one metric in most cases.
Case 1: Lower Impressions with Lower Spend
The number one reason for this issue is your targeted audience size. It mustn't be too small, Keep at least an audience size of at least 100k.
The second common reason for this problem is your low daily ad budget. If you keep your budgets too low, you'll actually lose auction bidding and Facebook will prefer to choose someone else ad over yours, who's willing to pay more than you.
Case 2: Lower Impressions with Higher Spend
Your ad sucks! Literally, just check the ad guidelines and fix your ad. If it isn't a glitch on the platform, you need to look back and fix your creatives.
Case 3: Higher CPMs with Higher CTAs
In this case, your whole campaign needs a fix. Whenever you get higher CPMs and higher CTAs, most probably you need to fix your ad creative and landing page.
Case 4: Higher CPMs with Lower CTAs
Well, I usually don't bother much about this situation if I'm profitable. Some audience segments on Facebook cost more than then other. If you're profitable, you must keep running your ads. This problem usually disappears during the look-alike targeting phase.
Case 5: Lower CPMs with Higher CTAs
Fix your Funnel, it's leaking out money. Have more take action buttons with attractive offers on your page. Make it simple and focus on up-sells and cross-sells.
Case 6: Lower CPMs with Lower CTAs
You're a genius! Now, focus on the scaling strategy and moreover the retargeting phase to make it even more profitable.
Make sure to check all of the cases to identify your exact problem and acting upon it quickly. As you're spending money and time on it.