Your brand/product does not exists in isolation.
Ad algorithms are great at realizing consumers that are in-market for a specific product category and will automatically start to show ads from your competitors.
Thus, you should study their communication. Identify what they’re strengths and weaknesses are and how/where you are different.
Exploit your strengths in your communication and amplify the weaknesses of competitors to make yourself stand out vs your competitors.
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In case you are also also competing with other product categories that are aiming to solve to the same problem, you could also rephrase this question to better encapsulate this competitive landscape
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