Performance Max Deep Dive
Performance Max, or Pmax, is a new automated, multi-channel campaign type introduced by Google. This new campaign type can serve in placements available on Search, Display, YouTube, Gmail, and Discover.
Google Knows Best
Performance Max campaigns use the plethora of audience information cultivated from Google to drive results via automated machine learning. This type of campaign essentially finds where the most relevant users are across Google's properties and serves them the right message at the right time.
The Best of Both Worlds
Cross-channel delivery throughout Google’s ecosystem is a powerful advertising tool since Performance Max optimizes delivery across channels under one campaign instead of multiple, separate campaign types. The capability to run across these channels is unique results page with highly visual and engaging native-style ads.
Performance Max vs Search
One of the main differences between Performance Max and the search campaigns advertisers are most familiar with is the extent of automation. As an example, in search campaigns, advertisers target a list of keywords to serve ads to users actively searching for their products and services. In contrast, advertisers provide audience signals rather than keywords to help inform machine learning on the type of traffic they want to reach when using PMax. Because advertisers are not limited to a list of keywords, PMax can uncover traffic that may not have surfaced by using keyword-based search only. Finally, as mentioned earlier, Performance Max ad placements can include all of Google’s inventory instead of being limited to delivery in search engine results and the Search Partners' network. As a result, advertisers are not solely reliant on users conducting search queries and can engage with their target audience where they consume media, check email, and more.
Tips & Tricks
The Moran Group has successfully utilized Performance Max, and we have found a few best practices for this campaign type.
1.) Creative assets - Use as many assets as possible and refresh creative routinely to highlight current promotions.
2.) Audience signals- Use relevant audience lists as signals to allow for more accurate machine learning.
3.) Google Insights- Checking Google insights can help you understand what drives performance, such as rising search trends.
Real Results
Our performance marketing team has seen positive results when implementing performance max. In Q4 of 2022, the average cost per conversion at The Moran Group from Pmax was 78% less than their complementing search ads. Pmax also brought in 7.2x the volume of impressions by serving across several Google channels. Our performance marketing team has also found that CPC was, on average 71% lower with performance max, compared to traditional text-only search ads.
Although Performance Max campaigns are still relatively new, there is something to be said for the vast data-backed, automated capabilities and channel-wide opportunities. This type of campaign provides an unparalleled opportunity to boost awareness and conversions all in one. The Moran Group has been able to build and optimize Performance Max campaigns across several vertices, including automotive and retail, for lead generation and ecommerce efforts. Contact us today to see how we can scale your business. Call The Moran Group at 225-769-1059 or schedule a meeting online!
SOURCES:
https://support.google.com/google-ads/answer/10724817?hl=en#zippy=
