Your objective depends on your goal.
If your goal is to drive traffic by letting your customers read a blog post, listen to a podcast episode, visit your landing page, or discover your app. Facebook will show your ad to those people within your target audience that are most likely to click on your link, based on their past behaviors, then you have to use the traffic objective.
However, if you want people to visit your website to opt-in, register, or purchase and you have the ability to track that they have achieved that objective (i.e., they land on a specific 'register to sales page' that indicates they have achieved your desired objective), then you would usually choose the Conversion objective rather than the Traffic objective.
You use the Engagement objective, when you want more people to engage with your ad. Engagements on your ads, include reactions, likes, comments, and shares. You can also use the Engagement objective when you wish to generate more Page Likes, Event Responses, or Offer Claims.
Choosing the Engagement objective can also assist you in building your Facebook Page Engagement Audiences that you can use for retargeting purposes for future advertising campaigns.
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