Meta ads aggressively spending first few days
I've been running meta ads for a few months and been quite happy with the results so far. But yesterday I launched a new campaign and set my daily budget as 20 dollars as I've always done this far.
But with this campaign for the first time ever it's been spending 35-40 dollars a day which is like 2x the daily budget I set. Since it's aggressively spending so much this early it's also now spent almost 1/5th of my monthly budget within 2 days when the cpr is the absolutely most expensive as it always is the first few days.
Usually my campaigns has gotten 150-200 conversions with 70-100 dollar total spend but now im almost up to 100 dollars with only 50-ish conversions because of the incredibly aggressive spending meta ads has been doing these first 2 days.
Is this some new update they've made to how they budget the ads or something? It kinda sucks spending all this money during the absolutely most expensive phase of your campaign.
Any tips or thoughts are appreciated!