Performance Max is Google’s new goal-based campaign type that enables users to access all their Google Ads inventory from a single campaign, including Search, YouTube, Gmail, Shopping, Discovery, and Display.
Users provide specific advertising objectives, creative assets, audience signals, and other data feeds. Performance Max then inputs this into its Smart Bidding, which combines Google’s automation technologies across bidding, budget optimization, audiences, creatives, attribution, and more.
Google first announced Performance Max in late 2020 then launched it to much hype in 2021. Now, after almost a year of using Performance Max, we’re getting a firm grasp of its strengths and weaknesses.
Here’s what you need to know about Performance Max campaigns.
Performance Max Campaigns Strengths
Automation and machine learning are probably the most obvious benefits. You provide Performance Max with the relevant information, and Google takes care of the targeting and delivery. Performance Max automates most of the time-consuming, manual work while you monitor and adjust accordingly.
Performance Max’s machine learning also provides deep analytics and reporting for all you nerds out there.
One case study showed that Performance Max campaigns grew qualified leads for a European automotive sales and marketing technology company by 24 per cent. Further, CTR was improved by 30 per cent compared to existing search and display campaigns.
Google has also recently announced new updates for Performance Max campaigns, including a local add-on to optimize for in-store sales.
Performance Max Campaigns Weaknesses
Before you make the leap, there are some drawbacks to consider.
First, many marketers complain that Performance Max campaigns take about six to eight weeks for Google’s machine learning to understand what works and what doesn’t. You may not have the time or patience to wait that long.
Secondly, while users are praising the quantity and cost of the leads they’ve garnered from Performance Max campaigns, the leads themselves have been low quality. A lot of cheap leads aren’t necessarily worth it if they’re converting less.
Finally, automation by definition means less control. Unless you’ve set up your Performance Max campaign precisely, it may lead to undesirable results. Further, many Google Ads experts may find they’re capable of better insights than the machine learning by manually analyzing the data themselves.
However, as part of their announced updates, Google will be introducing more intelligence and reporting tools.
Get a Gameplan for Growth
Pulsion has the experts you need to get the most out of your Performance Max campaigns. Our professionals have years of experience with Google Ads, PPC, and more. Let us help you exceed your growth objectives.
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