These days I mostly focus on managing Google Ads for my clients and don't do any Facebook Advertising. In fact, I haven't logged into Facebook in maybe 2 years.
This isn't because I don't think Facebook Ads can work for some businesses, it's because I'm trying to streamline my business and instead of specializing in 2 ad platforms it's easier for me to focus on one to get my clients better results with it.
I do believe Google Ads makes more sense more often to more businesses but there are certain products and services that I believe can do well on Facebook.
What are those?
The best way to categorize them is to call them 'impulse purchase' type products or services. Think food, restaurants or clothing. Anything that is relatively cheap and highly consumable.
If you're an accountant or plumber for example, Facebook Ads isn't going to make as much sense for you. Sure you might get lucky and get a customer from a Facebook Ad as an accountant or plumber but you're going to have much better luck with Google Search Ads.
"What about using Facebook Ads for branding campaigns Steve?"
If you have a massive ad budget and want to blow money on brand advertising that doesn't show any trackable conversions, be my guest. I deal more with direct response advertising, advertising that drives measurable results immediately. This type of advertising is going to be better for any smaller business or entrepreneur with a limited ad budget.