What Is Performance Max?
Performance Max is a new campaign type from Google allowing advertisers to place ads seamlessly across the Google Network, leveraging machine learning to connect with audiences like never before.
The pandemic continues to impact digital consumer behaviour, and Google’s answer to this is automation. How? By creating new ways for brands to connect with their consumers. Now businesses can do this in the most cost-effective way, no matter where they are in the Google Network.
Performance Max allows brands to buy media across the Google Network from just one campaign. How? By using automation to format high performing ads and optimise live bids in line with your bidding strategy.
How Does Performance Max Work?
By leveraging machine learning to create and optimise automated ads. That means the Performance Max ad type can increase your chances of achieving your campaign goals. PMax creates multiple ad variations using your assets group, copy and URLs that are then automatically curated, placed and optimised over the Google Network to connect with your audience to achieve your desired digital action, at the most efficient cost.
What are the benefits of a Performance Max Campaign?
Find more converting customers
- Create and customise goals that matter and maximise conversions or conversion value.
- Combining real-time consumer intents with your input using audience signals means you can reach new audience segments.
Drive more value
- Data-driven attribution across channels optimises for the most incremental touchpoints that drive customers to conversion.
- Machine learning models are used to make more accurate predictions about which ads, audiences, and creative combinations perform best for you.
Acquire rich insights
- Asset reporting can help you understand which creatives are impacting performance and help you optimise campaign creatives to drive ROI.
- Rising search trends can help you understand changes in performance and inform your broader business strategy.
This new Google-type aims to achieve a lower CPA than isolated campaign types and an increase in goal completions meaning budgets work harder.
What Does This Mean for Your Google Strategy?
After a successful beta period with a selection of brands in the US producing strong results, Google has now rolled this type out across all retailers. Performance Max is available to add to your Google test-and-learn strategy. PMax is designed to complement your Search campaigns working simultaneously. Make recommend that brands test PMax alongside existing campaigns, for a minimum of 4 weeks to allow the AI technology to learn and to benefit from the transparent insights Google can provide, which will fuel your future creative strategy.
An asset group is required to get started – the more formats you provide the more inventory your ads will appear on giving you more audience headroom. Brands can have multiple asset groups segmented into audience type or campaign message, and can be geo-targeted.
Interested to see how Google’s Performance Max can help achieve your 2022 growth targets? Contact us or use our live chat (bottom right) to engage with the team, who can build out recommendations on budget allocation, bid strategy and planning your asset groups.