In most cases we advise against it.
If it’s demographic based (like VA or Reverse or first-responders for examples) it is impossible to target that audience. It is considered redlining to target audiences like that and Facebook (and Google) do not allow it. We could create a campaign for that type of lead, BUT your ads would show to a lot of people who were not ‘in that group’. Your lead costs will definitely be higher and may end being extremely high depending upon the niche.
If it’s a really niche type product like renovation or new construction loans, etc., they can be very difficult to make work. It’s really the same problem as above because there is no great targeting for this. Your ads would show to a ton of people who would not fit the need and there is no targeting to find just people interested in that stuff.
But could we write an ad like that - yes we could and we have, but the above info still applies.
There is one significant exception to this rule. If you’re able to run ads in many states or all of the US at once, these types of campaigns can indeed work decently and even well. They definitely do NOT work if targeting locally though (meaning, just your county and surrounding areas).