“My frequency is near or over 2. What do I do?”
While frequency will play a part in the ads performance, I definitely see it as a lagging indicator. What I would be looking for is your lead cost going up. If you lead costs rises for 3 days in a row, now this is an issue.
Meanwhile you can be preparing for WHEN the ad fatigues by building the ads below.
Your audience is limited, either by targeting or location. If it’s location, then you are stuck. Here are some options –
In this case take the winning ad and change the image a bit.
Change from color to black and white. Or
Increase the contract of the image. Or
Change to a video ad with the same image as the first image people see.
This changes up what people are seeing even if the frequency is higher.
After these, you might try a Page post engagement ad (this is hit or miss) but if you are running a conversion campaign, Facebook is showing it to people who it thinks will convert.
Changing the campaign will let Facebook show it to people who will perform a different action – sometimes PPE campaigns work as well or better than conversion campaigns.
If you are limiting your audience by targeting, I’d create a lookalike audience from the leads (Same as Oscar mentioned), either by uploading or using the “lead” event to create the audience. Then just make a new adset with the same ad, but new targeting. This will give the ad more “room to run”.
I’ve pushed some retargeting audiences into the 20 frequency – because they were still converting!
Worry about your cost per action.