What is a Google Adwords Performance Max campaign?
Google’s latest innovation and new release within Pay Per Click are Performance Max campaigns. This new campaign option within Google Ads, combines access to a multitude of advertising channels into one. This includes Search, YouTube, Shopping, Display, Discover, Gmail and Maps.
With new automation developments becoming available all the time, this latest release uses the strength of machine learning to optimise automated digital ads to meet the goals of your brand.
Google sees Performance Max ads as the future of paid search with the announcement that next year smart shopping ads will exclusively run through Performance Max. This hints that eventually Google ads campaigns may all roll into one campaign (PMAX).
Google has stated that advertisers that use this new product have on average seen an increase of 13% in total incremental conversions at a similar cost per action. Therefore, it would be safe to assume this product will be utilised and tested a lot more from now.
Advertisers have asked whether using this campaign type would compete against current search campaigns, but Google has confirmed that they will instead complement them.
How Performance Max ads work
Performance Max work to the goals in your account. It uses these goals set at account level, automation and the data available to create and serve the ads that suit your goals the most.
In order to run them, you need to upload image creative and company logos. You also need to provide up to 5 headlines, 5 long headlines and 5 description lines. The rest of the assets (including merchant centre linking and video uploads) are optional.
You will then need to set your budget and the bid strategy you want to use, which can be “Maximise conversions value” (including the option to add a ROAS target) or “Maximise conversions” (which gives the option of applying a CPA target).
Using machine learning, Google chooses a landing page that a customer’s search intent suggests is the most relevant page on site to send the user to in order to achieve the goal set in your account (similar to the way Dynamic Search Ads work). Google also used Audience signals to reach your most valuable audience and give Google the information on who you think is more likely to convert, which should ultimately help speed up the learning period.
In our experience, this campaign type has been particularly successful during key seasonal periods for retailers. While testing this in the run-up to Christmas and pushing sales of seasonal gift products for a client retailer, we drove an additional 12% in sales and 13% in revenue for the account.
With Performance Max now out of beta and fully available to all brands, it is now time to think about testing this new product and utilising the different ad types to drive even stronger results for your business.
If you would like any support or guidance on setting up Performance Max, please feel free to contact us. We are happy to help!