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In this video, Andrew discusses four lesser-known features in Facebook Ad Manager that can significantly enhance ad performance. The first feature allows users to update custom audiences without losing data on existing ad sets. By uploading existing customer email lists, marketers can efficiently retarget or create look-alike audiences. Often, users mistakenly create new custom audiences with every customer update, which leads to unnecessary complications. Instead, Andrew emphasizes the value of updating existing audiences directly, streamlining the process while retaining the effectiveness of ongoing ad campaigns.