1. Audience is Fatigued!
(Or marketing to an audience who don't care about you... yet...)
I have done this myself! Sometimes though the "old school" stuff still works! However... Most audiences have seen it before and they are not "impressed!"
Your fighting a battle in the Facebook auction where you are bidding for a placement rather it's in the feeds or rather it's in the external placements that Facebook has partnered with.
You need to be sure that the Cost Per Acquisition (How much you are willing to spend to get a conversion) will be within your targeted goals.
You will lose that battle if you are however marketing to an audience who are very tired of seeing the same old stuff, all the time!
So what do you do? You need leads and just can't give them a break!
Consider marketing to a specific audience such as women first, while giving the other audience a rest (for example women audience leads, and men audience rest)!
Separate your audiences up into micro audiences and you will see your message get more in tone with that particular avatar!
Talk to the generic audience with a generic message and you risk getting clicks and less sign ups.
Talk to the generic audience with a specific message and you risk filtering largely and click through rates declining giving you an expensive cost per acquisition!
2. More Competition in the Feeds!
Facebook has gone quite up dramatically in competition. I don't mean your typical competition either. I mean every single advertiser who decides to target your "unique" audience with their offer.
Therefore there have been additional placements created. Some of these placements are not even on the Facebook platform. Such as audience network, and instagram placement!
However... More competition, more bidding in the auction! And my guess is everyone is using Facebook's "Automatic Bidding" structure that they have. Therefore, those with the highest daily budgets win! Nope, not really, those with the most engaging content wins!
That means your ads can no longer "suck"! You need to create unique value that gets those people to click in order to show Facebook You Mean Business, and You Care About Your Audience!
This shows a reach estimation of 930-1,800 within the daily budget of $10/day!
This shows a lesser competition audience, as the reach is higher 1,100-2,100 within the same daily budget of $10/day spend.
So with this type of stats you can expect your average bidding will be a little bit higher in the auction!
3. Your Offer Just Plain Sucks
Facebook marketing is considered "Interruptive Marketing." As you are not targeting people on google who are searching for you. They are being interrupted by something of interest... Your Ad! (hopefully if it is interesting right?)
Therefore if you do not have a good enough offer, ( and I mean "Offer") then you will likely suffer on conversions. Therefore change up your offer and test other types of "Hooks" to see what people respond to the most!
Your Facebook ads manager is a powerful weapon and if you use it properly you can test things fast, fail faster and start understanding the market more better!