I keep audience setup simple.
We tell Meta which people are already engaged with us. We also use the new-customer acquisition setting so Meta excludes existing purchasers from that pool.
The only geographic suggestion we add is our list of top cities. A large share of our flyers comes from those cities, so the signal is useful for us.
We do not target by gender, build interest buckets, or use lookalike audiences. The creative does much of the targeting, and Meta gets room to find the audience for it.