Hey guys,
I created an ad on FB and the potential reach was huge (13,000,000 people), the only problem is, I am not getting traffic. I created this camp at 7AM, so far I got 23 engagement.
The campaign is Page Likes (I tried others too) and I am always choosing the recommended choice in the "Optimize For".
Do you recommend anything?
Bid higher.
But I am setting "Get the most Likes at the best price", so I can't really choose a price. Should I use the "Set the amount a Page like is worth to you"?
seeing the same issue, have a $200/day budget on a campaign with 2mm demo on auto-bid. only spent $40 yesterday, spent close to $0.10 today. seeing across two campaigns one for page likes another for website clicks
Niche down your interest targeting to more specific demos, increase the number of ads you're running and lower your budget per ad set.
For instance, break up your HUGE interest group by 10 different age chunks and bid $20/day budget on each. This will also help you cut ads that aren't performing well in certain demos.
You can do the same thing by slicing it by geo and cutting ill-performing geos.
You'll face less competition and get your ads served more, with the added benefit of USUALLY lower CPMs / CPCs.
Never plug a broad interest and geo into FB and just crank up your bid -- this is a no no for a million reasons.
Oh -- and perhaps more importantly -- a better tip -->
Take your HUGE general interest and slice that into 10 sub-interests.
Look for what related niche interests your main group is usually interested in.
Example: Interest = Baseball Related niche interests = Seattle Mariners, Atlanta Braves, maybe some baseball related associations or clubs, etc.
Break your ads up to target those sub interests instead, and then cut the ones that don't perform well before jacking your bids up.
There are great tools for this, but I'm not giving away the farm here, mostly because I'm short on time tonight. Maybe I'll create a tips thread... as this seems to be a common problem.
Thank you so much @driven34, I will be doing everything you said. I can see that working way better.
Also would be awesome to hear about these tools you mentioned later on 
Increase your bid or make your targeting wider. Additionally set up additional campaigns and increase your total spend. Just be a bit patient, its a bidding system, maybe tomorrow or in a few days a few big bidders run out of budget and then its your turn to get traffic
i also recommend you create a clone campaign and run it on oCPM that you chose, that way you will have control on how much to bid and you will be able to learn more about the target audience if he is really interested in your campaign or they just don't get to see your ads.
By the way how much is your average bid at the moment??
Wow. Don't use likes. They are trash.
If it's a new account there's a secret limitation. Never bid higher than suggested. It's not your bid. It's Facebook's alg