Broad targeting is age, gender, and location as the only targeting parameters used. Interest targeting has nothing to do with buying intent, so using it as a purchasing parameter means that you're paying extra to target people with technology that is effectively obsolete. Lookalike audiences with small data sets are less effective than leveraging the trillions of data points across billions of people that Facebook has.

Ads make their own audience, so paying extra to get lower quality attention is not a good business model.

Using broad targeting lets Facebook's AI target the best people so that you buy the best types of attention at the lowest cost, and it never fatigues.

Resources:

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Chapters:

00:00 Using Facebook's unique AI to find the right audience for your ads

00:27 Maximize Your Business Potential with Broad Targeting

03:24 How to Reach More Customers with Broad Targeting - Tips and Strategies