Here are a few tips that you could follow to improve your ads once your facebook audience is selected.
1. Learn about Facebook Ad Campaigns Structure such as - Campaigns, Ad sets and Ads
2. Set up your Ad Campaign Budget which includes your Daily Budget and Lifetime Budget
3. Ad Delivery Optimization - The Optimization for Ad Delivery tells Facebook what’s the end goal you’re most interested in. For example:If your goal is to drive traffic to your website, optimize your ad delivery for Link Clicks.
If your goal is to drive traffic to your website, optimize your ad delivery for Link Clicks.
If you want people to convert on your website, choose the Conversions objective.
If you want people to install your app, choose the App Install objective.
4. After your Ads have started running and has approximately been a week, it's time for analysis and reporting. You need to check
Cost per click
Cost per conversion
Unique link clicks
5. And finally as per your results and reporting you can adjust, edit your existing ads or start new ads to target audiences that you may have missed out earlier.
I am providing you a link from where you can learn more about facebook ads and marketing.
Great question. Start with the conversion event type. If you're hoping to drive add to carts and ultimately conversions, the closer to that conversion event for your conversion type, the better. However, if you don't get a lot of add to carts currently, view content might be the way you have to go. In my experience, you really need to hit their desired number of conversions pretty quickly for their algorithm to start dialing in. If you make changes, duplicate your audience so you can track what's happening.
Continue to look at which ads are generating the best results along with what's happening on your website.