3 Extremely profitable targeting/placement strategies that I've been using with Facebook Ads in the past 12 months (That I still use everyday)
1.Interest grouping + affinity based interests.
Let's say I'm planning to test 20 different audiences, instead of picking 20 influencers in my niche I'll split it up into 3-4 groups. So I would pick 5 influencers, 5 books, 5 magazines and 5 brands within that niche.
This way I'm not only testing specific interests but also niches within the interest. I may find that at the end of my testing period that the 5 influencer interests produced the highest ROI.
I could then launch some more adsets with more influencers or find affinity interests within Audience Insights and use some from there as these wouldn't be shown inside the ads manager.
There's also an app tool that I use which connects to Facebook Ads API directly and extracts HIDDEN interests that you can not find anywhere inside the ads manager. I can make a post on how to set this up if anyone is interested.
2. Testing conversion windows for retargeting + winning ad sets.
If I'm usually doing a 7 day view or 1 day click and the ad set starts to fatigue, I'll usually duplicate it to a 1 day click/view and let it run. OR if an ad set is doing very WELL I'd do the same thing and ONLY change the conversion window.
I've had some ad sets perform for weeks by doing this and this works especially well inside CBO campaigns. This works especially well in retargeting.
3. Narrowing placements down to ONE.
I usually start out with Auto(depending on audience size) but once I have a few performing ad sets I'll start to narrow it down to Mobile-FB-Feed and also Mobile-IG-Stories.
Doing this allows you to create creatives specifically for that one placement.
So let's say I was targeting IG stories, I can set tons of vertical story ads and get cheaper CPMs, more reach etc because I'm only competing in the IG stories auction instead of auto placements.