According to 2021 Statista report, individuals 16-64 years old engage with social media for an average of 145 minutes a day. Facebook is still king, with an average usage of 2+ hours daily.
ROI through direct response is of paramount importance to brands. How is Facebook addressing these needs? They are making more options available for their ad products.
Test New Tactics:
Facebook has evolved from the standard right hand rail position to include an array of additional opportunities like stories and instant articles. The Facebook “experience” is different for every user, so testing multiple placements can deliver your message to your audience in a variety of formats. One under-used tactic offered by Facebook is the Call Ad. This mobile only placement allows a user to press a “Call Now” button, to directly connect to your business. Talk about direct response!
Test New Audiences:
Due to privacy developments, Facebook has changed and/or removed many capabilities. For “special ads category,” advertisers, the rules are even more strict.
If a client is willing to upload first party CRM data into the platform, Facebook will identify users who share similar demographic traits, interest, and profile points that “look like” (as in Lookalike Audience) current customers. However, the Facebook algorithm will only go so far.
Consider also testing a 3rd party data provider such as Acxiom or Oracle. These data providers allow advertisers to build purchased audience segments into platform to test against Facebook’s targeting. In theory, this audience will be a reaching a different “pool” of qualified users, broadening your universe. Expanded audience reach may mean more leads/conversions.
Upgrade Your Message:
One Facebook best practice is to include text over the image that is being used for the ad. Enhancing the call to action on the image may drive more response. Add “Call Now,” with a unique phone number, or “Click to Download a Brochure.” Yes, there is a call-to-action button at the bottom of every ad, but the image is often the focal point of the ad for users. 
Optimization works across several levers so it’s important to consider those levers and maintain a test and learn spirit. And just when you think you’ve got it figured out, Facebook will change their offerings again.