Outbound Marketing Specialist
There are three levels to Facebook's campaign structure: campaign, ad set, and ad. Each ad set will contain one or more ads.
You'll define targeting, budget, schedule, bidding, and placement rules at the ad set level.
Ad sets are a great tool to test different audiences, placement options, and more.
For example, in the campaign structure below, Socioh creates two ad sets within the same campaign. Each of the ad sets uses a 5% lookalike of purchasers, but your data is segmented by the recency of the purchase in order to test which audience is more profitable:
Setting up your campaigns in this way can help you can test the audiences against each other. For example, once you have the initial results, you can change the setting from CBO (campaign budget optimization) to adjust budgets at the ad set level. This allow you to allocate more budgets to the audiences that perform better, and so on.