This happens a lot more than people realize, and it usually comes down to one thing: engagement and buying intent are not the same behavior.
Here's what's usually going on when I dig into a campaign like this.
Engagement often just means curiosity, not intent. A like or a comment can mean "this caught my eye" or "this made me smile." It doesn't mean the person is anywhere close to buying. Funny or emotional creative racks up reactions because it's entertaining, not because it's persuasive.
The people engaging aren't always the people who buy. I've seen ads do great with a broad audience simply because the content was relatable or shareable, but that audience was never the actual buyer. Meanwhile the smaller group that would realistically convert barely interacted because the creative wasn't speaking to their specific problem.
There's a gap between the ad and what happens after the click. Someone gets hooked, clicks through, and lands on a page that doesn't follow through on the promise. Slow load time, a confusing layout, no clear next step, or pricing that feels like a surprise. That alone can kill conversion even when the ad did everything right.
Some engagement is just a side effect of the format. Videos, polls, memes, and controversial takes are built to get reactions. The platform rewards that with more reach, which creates more engagement, but none of that loop is connected to purchase intent.
The offer or the call to action is weak. People can genuinely like your content and still not know what you want them to do next, or not feel any urgency to act right now. Engagement shows interest in the content itself. Buying needs a reason to act immediately.
Trust isn't built yet. For anything priced higher or less familiar, one interaction usually isn't enough. People engage, go compare options or read reviews, and never come back unless there's retargeting or some kind of follow up pulling them along.
What's worked for me is treating engagement and conversion as two separate goals from the start. If I want engagement, I build creative for that. If I want sales, I test the offer, the landing page, and the CTA on their own terms instead of assuming a well liked ad will automatically convert.