Has iOS 14.5 finished Facebook Ads?
Apple released an update for their mobile devices both iPad and iPhone which blocked pixels from reporting of actions on 3rd party websites, that is your website, once people left the Facebook app.
Now, this reporting was what fed data back to Facebook on the people who took the action you specified in your ad.
This data was then leveraged by Facebook to find more people just like the ones who took the action and send them to your opt-in pages and offers.
Many people are lamenting the death of Facebook Ads as a result. But trust me they are far from dead. In fact, when you look at the data the cost of Facebook Ads is only back to pre-COVID levels.
You see there was a massive reduction in Facebook Ad costs when COVID first hit but when people started re-entering the market around the middle to end of 2021 the costs started to spike.
The increase in costs has squeezed many weaker advertisers out of the market but this is great news if you are willing to do the work and understand how Facebook works.