You’ve made some really good points. Possible explanations that I have seen for inaccurate targeting: 1. Some folks have a ton of money in their budget to spe

You’ve made some really good points. Possible explanations that I have seen for inaccurate targeting: 1. Some folks have a ton of money in their budget to spend on marketing, and they frankly don’t care about optimizing their targeting. In some cases, this is a shrewd decision, since the benefits of marginal optimization don’t really justify the cost of optimization. That said, in most cases, it’s just sloth or ignorance combined with the knowledge that they better spend their ad budget or else “bad things” will happen. 2. Lots of people call themselves digital marketers. Most of them who are employees suck, and I mean suck really bad. The reason is that if you are really good at digital marketing, it’s pretty easy to roll your own small business that, at a minimum, makes enough money while still having a lot of latitude in terms of free time or financial upside. Most companies are not willing or are not able to pay highly competent digital marketers what they are worth. Regardless, these employee marketers who suck tend not to do well at optimizing targeting. 3. Most digital marketing agencies suck at targeting. This is largely a byproduct of #2 above. The owner of an agency or the lead marketer might be really good, but they often delegate to people who are not. Streamlining the work of the underlings turns out not to be that important for most of these agencies. That’s my 2 cents. I would love to hear other opinions.