That kind of overspend and zero conversions so early on definitely signals something’s off—either with campaign settings, optimization signals, or tracking setup.
Spending $300 in 3 hours with no conversions likely means:
- Wrong campaign objective (e.g. not set to conversions)
- Conversion tracking not working (pixel or CAPI not firing)
- Overly broad targeting (USA + Canada with no signals)
- Meta’s front-loaded pacing (it can spend aggressively early)
What to Do:
- Pause the campaign now
- Check if your purchase/lead events are firing in Events Manager
- Lower budget and test with tighter audience or better signals
- Only scale once tracking is confirmed and data looks solid