Should you incorporate Google’s Performance Max into your media mix?Marketing | Technology
Google’s new campaign type helps to drive better performance based on specific conversion goals through real-time optimisation and streamlining campaigns. But is it worth implementing?
Since its launch, we’ve seen some of our own clients start to embrace Performance Max with the aim of scaling existing campaigns. One of which was Avignon Capital, a commercial property investment company operating throughout Europe.
PMax exists to make campaigns run more efficiently across the Google Network in order to generate high-quality leads in a way that is cost-effective.
What We Found
Within eight weeks of activity, running PMax alongside LinkedIn and Responsive Search ads had maximised total traffic to the Avignon website by 78%.
47% of leads generated were all from paid and organic activity, with just 32% accounting for the total paid spend.
The reason for it being so effective for search campaigns in particular is that it relies heavily on ‘machine learning’ to get ads in front of customers that are most likely to become conversions.
We tested PMax on its own for four weeks before introducing a Responsive Search ads campaign – which saw a significant boost to the campaign with a +68% increase in click-through rates and a -55% decrease in Cost per Lead.
Room for Improvement
Although helpful, the Insights and Asset Groups pages could be expanded. The Insights tab gives a good indication of the best-performing search terms, but the option to view an audience segment report could also be beneficial.
Likewise, the Asset Groups page provides a useful look at the best-performing assets and asset combinations, but it would be more constructive to be able to view the exact performance metrics against each group.
What We Make Of It
PMax proves itself as an invaluable campaign type to implement for lead generation. We’d recommend using as many relevant audience signals as possible – including any customer lists or website data – and running it alongside existing search campaigns with target CPAs. PMax is still in its infancy, and so is only expected to improve going forward.