The tool that can help you to solve this problem is called Facebook Auto Splitting. This tool can automate the process of ad sets creation when launching A/B testing for different audiences. Despite the fact that the basic principles of splitting are actually quite simple, they still require a lot of time and effort to initiate. This includes:
1. Manual creation of a large number of ad sets.
2. Generating several creative combinations for each ad set (for example, four images and two texts come out with 2*4=8 combinations)
3. Continuous results tracking (ideally, every hour)
You can automate Step 1 and Step 2 using targeting splitting in ad sets:
To create this number of Ad Sets you need to turn on any parameter combination for splitting in the Split By section on Step 3: Gender, Age, Country, Device. The instrument will create a copy of adverts for each audience, which you will create on Step 4.
Important: When choosing the split option, the budget is distributed among the ad sets equally:
An example of final ad sets split by gender: