1. Do NOT have all your eggs in one basket

Something is going to break.. I Guarantee it!
If Facebook is the only traffic source you rely on, you are going to regret it.
Always have other traffic sources you can depend on.

2. Dig your well LONG before you are thirsty

I am referring to new ads.
Write them long before you need them.
Get them approved long before you need them.
Ad approvals have been a nightmare recently.

3. Make Use of the Algorithm

Facebook knows all sorts of stuff.
This includes what your best buyers have in common.
The Facebook algorithm will find and identify complex commonalities.
Make sure you leverage the heck out of Lookalike Audiences.
1% & 2% are Ideal.
Knowing your Audience LTV is even better.

4. Diversify Where You Get Traffic From

Something in Facebook is bound to break.
If you rely only on 1 traffic source you will tend to be disappointed.

5. Lifetime Budgets

Based on my personal experience, Lifetime Budgets reduced Cost Per Result compared to Daily Budgets.
By ALOT; as high as 25% to 50%!
I wish it wasn't so, but every test I have ever run proves this again and again.
Lifetime budgets are cheaper

6. Messaging

Its okay to go super ninja with your targeting.
But your biggest gains will come from your Ad Copy.
You HAVE to talk directly to your avatar.
Understand their deepest and darkest fears, the pain they go through in their daily life, their unrequited fantasies and dreams..

7. Comments Matter

Too many marketers do not manage the negative comments.
Unattended negative comments can really have a detrimental effect.
Just deleting them comments is not enough
Easiest way to moderate comments > select all trolls and complainers, hit delete comments and ban.
Problem solved!

8. Become Less Reliant on Facebook

Yes, I actually said it.

9. PPE

Social proof matters.
When you write a new ad, first run a PPE (engagement) Campaign to it.
Optimise for engagements.
Run to a warm audience where people will like, comment and share.
Once there is a lot of action on the ad, grab the post ID and pop it into a Conversion Campaign.
Boom!
High relevance score.
Low CPA.

10. Boring = Death

Facebook is an Entertainment Channel.
Be Interesting. Be Entertaining. Be Funny.
But. Never. Be. Boring.

BONUS:

Practice Yoga or Meditation
Or do something that can relaxes you.
Whatever that will calm you down.

Facebook will cause you to experience an emotional roller coaster if you let it.

Take a Chill Pill.