I started doing Facebook Ads a while ago and had some minor success. After doing alot of Fan Page and Profile work, I decided to pursue FB Ads as hard as I could and had some awesome success doing it. First off, it is a very tough PPC nut to crack. Most companies that I have talk to (the big online marketing ones) don't even bother with Facebook Ads because of the super low CTR. It just isn't profitable on a legit, large-scale. Usually I tell them my CTR (between 1-2%) and my ROI (anywhere between 40% to 400%). After explaining it, they usually understand. Assuming you already have an account and have done this before, I'll explain briefly. First, make sure your creative is interesting enough to get people to click. Getting clicks as cheap as possible is pretty much 80% of the battle. Either use CPM or CPC. On affiliate offers that pay high and is extremely targetted, I use CPC. For a broader audience and a lower offer, I use CPM. Don't worry about the CTR, it will be below 1%. Somewhere in the 0.01% category. If its lower than that, don't bother running the ad anymore. You're wasting $$. So Facebook usually disapproves a large number of ads. Just make as many as you can to get submitted, sometimes it creeps in. I usually submit all times during the day because they have different personnel okaying the ads. I got the same ad okayed as was rejected a few hours earlier. Make a good creative. Make sure its something you would click. Like when I see some ads, as an experienced marketer, I go, "Wow, I wanna click that". It needs to be within their guidelines but catchy and pleasing. Depending on what your promoting, there's certain things to follow. Facebook will only allow you to put one sex for dating offers. They have to be single and over 18. Otherwise they'll never approve the ad. After that, its fair game. Some people like to target wide like 8 million plus users. I don't. I like a very concise niche. I target fan pages like crazy. I test tons of different fan pages. I even go as far as to add for just Men, just Women, just x age group. You'll learn alot about how to target the ads by doing this. But it does take time. Facebook Ads will never accept "get riche quick" or credit type stuff, so don't bother. Unless they have someone really dumb okaying the ad (it happens). Health products are a flip, sometimes they get accepted sometimes not. I try to target no more than 1 million users because I want people to see the ad more than once. I'd say 80% of the time the user doesn't see the ad the first time. Also, I want a heavily target niche so every click is virtually a sale/lead. So, make sure your creative is unique and clickable. Your choice on targetting or broad you want to make it. I usually set up two ads after I have all the creatives for my campaign. One for CPM and one for CPC. If I can bank on say 5,000 impressions and get 1-2 clicks worth $0.25 per 1,000, then its highly profitable for me. While you can bid for the lowest and price the lower at $0.10 per 1,000 for a click or two, I found they convert very poorly. I don't know if its an algo to serve to certain people or what, I just found the more you spend the way better the conversion. However, Facebook usually makes outrageous bid suggestion prices of like $0.50-$1.00 for CPM and $1-$4 for CPC. I think this is because FB is trying very very hard to bank on noobs doing their ads. Pretty much I think you can stay under $0.30 per CPM and a $1 for CPC and do well. So I'll run my campaigns. Watch them closely and set your daily budget so it doesn't run too much. This is an example of how I "test" my campaigns. The paused ones I usually delete because they don't make me money. On the first one you'll see its a CPC, with 300 impressions and got 4 clicks. It cost me $3. However, I converted 3 (of the 4) and made $9. So profit of $6. To note: highly target niche fan pages (my reach is around 50,000 U.S. men), higher paying affiliate offer. It looks good to me so far, so I'll keep running it. The one a few down had like 40,000 impressions and 5 clicks with no conversions (my reach is 1 million U.S. girls). While it got the clicks, it didn't make me money, so I'll play with the creative a bit. The bottom one had 30,000 impressions and 1 click--WORTHLESS, I'll delete. So, I had a bunch of ads/creatives--some to the same offer and some to different offers. I found something that works, something that could work and alot of things that don't work. From there I just scale it up and either increase my bidding to get more impressions/clicks or create another creative with more users filled. But still... Always, always watch it.