Custom audiences — exclude all of your Lookalike Audiences, other lists, and Web Traffic Custom Audiences.
Locations — Exclude locations that you don’t want your ad to appear. For example, you should not be advertising a snow related product in Hawaii. If you are considering advertising abroad, group your country by region and make sure you can ship there. The more expensive the shipping, the lower the conversion rate.
Income — Exclude anyone who makes less than $40,000 per year. People who make less than this are less likely to have disposable income. This is not always necessary, but it is extremely important if you have an expensive product.
Your Page Likes — exclude people that like your page. This will help prevent overspending and audience overlap. You should be targeting your Facebook fans separately.
Platform — Narrow by Kickstarter and Indiegogo — people who know about Kickstarter and Indiegogo are more likely to purchase. This is especially necessary if you are targeting internationally. I don’t always use this one, but most of our top performing audiences include this narrowing.