Conversion rate and performance suddenly tanked. Ads targeting issue?
On the 5th and 6th of may, i hit 2 record days for my brand twice in a row. But then the next day everything just crashed. Revenue went down by like 3/4, conversion rate plummeted from 3.4 to like 1.8 WITHIN A SINGLE DAY. Its now the 12th of may and things are still looking terrible. I've tried everything I can to save it - new ads, testing new landing & product page, new offers, changing campaign structure, trying to market to new audiences but nothing is working. Worst part is all the ad metrics are the same, if not even better than before. Yet sales generated is so much worse.
The only thing that I can think of as to why this would happen is that on May 7th (the day after the last record day), the ads stopped for a few hours as I didn't have enough money in my balance to pay the outstanding cost for the ads. I quickly resolved the issue as soon as I woke up. Its been 5 days since then. I thought performance would gradually go back to normal but its still worse than ever. My adspend budget is even higher than what it's been in the past yet the days with lower adspend generated more sales. It makes no sense. I can only assume that meta is for some reason targeting the wrong audience. Im just lost as to what I can do next as I feel l