Facebook traffic converts very nice when your setup is correct. Here's how I made $300 off just $11 ad spend:
1. Created attention grabbing ad copy. People on facebook are not on there to buy stuff, they log on to connect with friends etc, so really what you are doing with your ads is what is called 'interruption marketing' (a bit like PPV). The key therefore is getting attention and the best I have found is to ask a question.
My Ad Copy:
Want To Earn Some Money? (this is the pre-qualification, since only those interested will click)
Discover How A 25 Y/O College Dropout Earns More Than $150 A Day, Working Just 2 Hours From Their Bedroom/Basement. This is accompanied by a graphic of the product I am promoting (In this case it was Sixfigureyearly)
At every step of the process you want to make a connection with the initial thing that grabs their attention.
After they click on the ad they are taken to a presell page (don't direct link). landing page must contain a larger image of said graphic in the ad (this makes them feel they are in the right place). Your presell page should be optimized with good copy. The best approach is to give some review of the product and how it has benefited you. Essentially, you should be that 25 Y/O in the ad who know uses the recommended product to make money.
Put links at various points on the page (some people hate reading) so if they want to leave they leave through your link. All links should be a call to action.
Once your ad is approved let it run for a few hundred impressions and check your Clickbank stats. If you don't make at least your ad spend, I'll jump off the Empire State
If you get a few conversions, pause the ad. This is important because after a few thousand impressions, your CTR will suffer. The best approach is to have multiple campaigns setup, promoting different 'niches'. As you get a few conversions you pause the ad and run another 'niche'. And so on and so forth...