ROAS dropped but nothing changed in Ads Manager
I had a client go from 2.4x ROAS to 0.8x in six days with the same ads, same budget, same audience. Their CTR and CPC was fine, and nothing in the ad account explained why sales had suddenly disappeared.
They'd raised their prices.
The ads were still showing the old price. People saw the ad, liked the product, clicked through expecting one price, then landed on the store and got hit with a higher one. Of course conversion rate died lol. The weird part was the ads themselves still looked completely healthy.
Took about 10 minutes to find once I stopped digging through the ad account and actually went through the store like a customer.
I think people blame Meta way too quickly when this happens. ROAS tanks and suddenly they're changing campaigns that were working perfectly fine a few days ago. But if people are still clicking at the same rate, whatever broke might've happened AFTER the click.
This only holds if spend stayed steady. If you scaled budget during that window, ignore all of this because that's a different problem
The split is whether CTR held while cost per add to cart climbed. If CTR held, whatever broke is after the click. If CTR dropped too, it's a completely different problem and the fix has nothing in common with this one.