You've rebuilt the audiences three times. New interests, a fresh lookalike, a tighter age range. The results moved for a day and settled back where they were, because the lever you keep pulling isn't connected to anything anymore.
If your Facebook ads targeting isn't working, the honest answer is that it mostly can't, not the way you're trying to use it. Since the iOS privacy changes, Meta doesn't find your buyer from an interest list. It reads your ad, decides who that ad is for, and goes looking for them. The creative is doing the targeting whether you planned it that way or not, and the audience tab is where you've been spending your attention while the real lever sat untouched.
Before a single impression, Meta scans the ad. The copy, the image or video, the tone, even the landing page behind the link. From that it predicts who the ad will resonate with and starts delivery there. Then the engagement data comes back, and it refines who sees it next. That's how every Meta ads campaign runs now, not only the Advantage+ ones, and it's how the system has worked for a while. The interests and lookalikes you stack on top are treated as suggestions.
Think about what that means in practice. A video shot in a garage with a man in his fifties talking about his truck is a message to Meta about who to find. A clean studio shot with a young woman and a serum is a different message. The setting, the face on camera, the first line and the words in the body all say "this is for you" to one kind of person and "not you" to everyone else, and Meta is listening to that long before it looks at your age range.
So when you rebuild the audience and leave the ad alone, Meta reads the same ad, draws the same conclusion and finds the same people. The results wobble for a day while delivery resets, then settle exactly where they were. You weren't pulling a lever. You were adjusting a suggestion. Managing the settings is housekeeping, and it has to be done, but messaging drives conversions far more than settings do, and the hours go where the money is.
It cuts the other way too, and this is the part that costs money. Whatever your words call out, Meta learns and goes to find more of. In one business-opportunity account I studied, the ads mentioned Section 8 housing. The leads were terrible, and no audience change fixed it, because the copy was attracting a low-intent reader and training the system to find more just like them. The fix was a phrase. The ads switched to "aspiring entrepreneurs," lead quality turned around, and the targeting settings never moved. The words are a lead-quality lever. They decide who responds, and then they decide who Meta hunts for next.
The ad is the targeting. The setting, the face, the first line and the words tell Meta who this is for, and it goes and finds more of whoever responds. Change the audience and you've moved a suggestion. Change the creative and you've moved the audience.
If the words decide who Meta hunts for, the audience settings are left with one job, and it isn't finding anyone. It's ruling people out. The way I set up an ad set now is broad by default, roughly 20 to 65 and up, unless there's a plain reason someone can't be a customer. A menopause product has no business paying to reach women under 35, so exclude them. A product that ships to one country shouldn't be shown in another. That's targeting by exclusion, it takes a few minutes, and it's most of what the tab is good for.
Interests, if you use them at all, work best when they're broad and obvious rather than clever. In one account I studied, a plain "motorcycles" interest outperformed for a men's testosterone clinic, because it described the man rather than the medical problem. And going narrow in a B2B account hurts more than it helps, because a small audience leaves Meta no room to do the thing it's now built to do. Give it room, and let the creative do the filtering it was going to do anyway.
Once the audience is broad and the exclusions are set, the question changes. It stops being "which audience" and becomes "how many different people can my ads call out, and how fast can I find out which ones buy." That's the real reason creative replaced targeting as the way an account grows. If every ad you run speaks to the same 65-year-old man who wants to golf better, your reach caps at the number of him Meta can find, and the ads tire fast. Run ads built around different motivators, a different pain, a different identity, a different reason to care, and Meta opens a new pocket of people for each one.
That's a production problem, and it's the one worth solving. Vary the format as well as the hook, because a product shot, a creator video and a plain text post each reach people the others miss. The reason UGC works as well as it does is exactly this: the person, the kitchen, the way they talk qualifies the viewer before the first word of copy. I've written up how to build a testing machine for creative and how to brief creators so the casting does the targeting, and both of those are where the hours you've been spending in the audience tab should go.
The one move. Take the ad set you've been fiddling with, set it broad with only the exclusions that make sense, and write three versions of the ad that each name a different person. Same offer, different callout. Let them spend enough to judge, and watch which one pulls buyers rather than clicks. The results will tell you more about your audience than any interest list ever did, because for the first time you'll be reading Meta's targeting instead of fighting it.
This is the order I work in on the media buying service: creative first, then structure, then budget. It's how an ecommerce brand I work with added about $100k a month through paid media, and the audience settings on that account are as boring as they come. See where creative sits in the complete paid media playbook, or book a call and I'll read your ads the way Meta does and tell you who they're calling.
Sparingly, and broad. Common-sense interests give Meta a hint without boxing it in, and narrow stacks shrink the room it needs to find buyers from your creative. Spend the effort on exclusions, the people who can't be customers, and let the ad do the rest.
No. Advantage+ treats your interests and lookalikes as suggestions and lets Meta decide, which is close to what every campaign does already. The ad still tells Meta who to look for, so a weak ad in Advantage+ finds the same wrong people with less control.
Look at who converts, not who clicks. If the clicks are cheap and the sales or qualified leads aren't there, the words are calling out the wrong person. Rewrite the callout before you touch the audience, and if the clicks are fine but the page isn't, start with the four culprits behind unprofitable ads.
Book a free 20-minute diagnosis and I'll read your ads the way Meta does, tell you who they're calling out, and give you the first creative change that moves the audience.