One of the problems could be targeting a very large audience. Try targeting a more focused group of people. And of course monitor your bids. I tried cpc with a manual bid and that wasn't performing but when I switched to optimized cpc, got more clicks. One strategy for manual bids is to bid...
There's definitely a decrease in page reach.
As santiago22 mentioned, it's all about interaction now. Posts are more likely to be shown if there's high levels of interaction with them. And yes FB have tweaked their algorithms so that if your post explicitly asks for likes etc, they'll be...
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