Two campaigns targeting the same person are not free just because nothing is technically double-billed. Meta's own documentation says when two of an advertiser's own ad sets can reach the same person, Meta enters only the stronger performer and suppresses the other, specifically so an account does not bid against itself. That protects the budget from paying twice for one impression. It does not mean the suppressed ad set is testing what its own report appears to show, because a real share of its intended audience was never eligible to see it.
On this pack's own worked account, two Meta lookalike audiences built from the same customer seed list overlapped 64%: almost two-thirds of the smaller audience's reach sat inside the larger one, both eligible for the same auction. A third prospecting audience, built on interest targeting before any exclusion list existed, carried zero exclusions of any kind. Separately, the active-customer exclusion list ran 9 weeks past its weekly refresh cadence, long enough for 306 newly closed customers to stay eligible for cold prospecting ads, an estimated $64.78 in spend shown to people who had already bought.
Overlap Matrix checks prospecting audiences against each other before a new one launches, not after a disappointing first week. Exclusion Map states, for every prospecting audience, which of three exclusions actually applies: active customers, open opportunities, or closed-lost. A gap reads as a decision or an oversight, never a mystery. The audiences behind both sheets often come from the same creative performance export already pulled for testing, and the spend they cost settles into the cross-platform paid report once the exclusions are fixed.