I know there are a ton of variables that can influence an ad's performance month to month (copy, creative, offer, seasonality, etc).
Did you guys happen to run a split test comparing the two audiences' performance during the same time period with the same exact ad? That would provide a more accurate comparison.
Also what targeting options were they using the prior month? First party lookalike data, demographic targeting, etc?
Just curious because we're always looking to improve our ad performance!