Facebook's ad system defaults to showing your ads to unemployed and low-income people because they're cheap to reach, but they rarely buy anything. To target wealthy customers, you need third-party data that filters by net worth, since Facebook's built-in tools can't do it.
If you don't have the tools to actually target people with money on Facebook, by default, it will show your ads to a broader range of people, a lot of people that might be unemployed, that might be on welfare, and there's nothing wrong with that. I'm just saying that Facebook will default to that traffic, to those people where the cost to acquire a customer, the cost to acquire a lead, or the cost to book a call is lower. Why? Because it wants to give you a good CPM. It wants to give you good cost per click. But the reality is that even if you're paying really low for your leads, it doesn't matter if you cannot sell them anything because they don't have the means. So Facebook in and of itself will default, again, unless you target the right people, will default to the cheapest possible source of traffic that you may possibly have. And cheap leads almost never equate to good customers. So unless you're using something like third-party tracking and third-party data where you can actually target people with money based on their net worth, this is not something that you can target within Facebook. You need to use third-party audiences, and I'm happy to share with you how we do that when you join the OBS Advertising Fund.
