All you need to know about Google’s Performance Max
With Google’s new Ad Campaign, Performance Max being released earlier this month, there have been many questions going around about what it is and how it is going to change your advertising strategy.
With this post, we are presenting our insights to help provide you with answers and a better perspective on how this campaign could be of use to your business.
What is Performance Max?
Consumers are constantly using new channels on the internet to address their various needs. With this, it becomes difficult for businesses to keep track of all the channels and advertising across them all.
This is where automations plays a very important role to help you reach as many consumers as possible with minimum effort.
Performance Max is an automated Ad Campaign type which allows you to advertise across Google Inventory like Search, Gmail, Maps, Display, Discover and YouTube with only one campaign and effective CPA (Cost Per Action).
It is made to best compliment your keyword-based campaign for Search and helps you find more converting customers.
Key Features of Performance Max:
1. Campaign Objectives
Performance Max works best with three types of campaigns, i.e. Sales, Leads and Local shop visits and promotions.
Performance’s Max’s main function is to increase conversions at an optimized budget, hence, the campaign is applicable for these objectives.
2. Conversion Growth
Performance max lets you engage customers across business channels to accomplish your customized conversion goals.
It allows you to create extremely specific strategies for your conversion goals and applies them across its channels to reach most of the consumers likely to be interested in your business and convert them to buying customers.
Allianz, which is a market leader in insurance, used Performance Max to increase its car insurance leads by 15% at a lower CTA (Cost Per Action) compared to other campaigns.
3. Full Automation
The growth in conversion is primarily because of Performance Max’s use of machine learning.
You add in your creative assets, conversion goals, budget, etc. and Google Ads automation will make sure you reach all potential consumers across channels while ensuring an optimized budget.
It serves the most appropriate ads for each channel, by combining attribution technology (understanding what happens when a user interacts with an ad using machine learning) and Smart Bidding, to maximize campaign performance. You only need to add audience signals to your Performance Ad campaign to enhance their machine learning.
4. Budget Optimization
Because of Google Ads automation targeting all channels, your advertising goals are fulfilled at an optimized CTA compared to setting up campaigns for each channel separately.
It not only improves the sales leads but also finds new markets of potential customers with its use of real-time understanding of consumer preferences and some audience signals from your side. All without you having to put extra effort or spend more on your campaigns.
5. Assets Group
Assets Group is similar to Ads group in other Google campaigns. It lets you manage your creative assets which include your final URL or your landing page, logos, videos, images, descriptions, call-to-actions, etc.
Performance Max uses all the assets you provide to create multiple ad formats based on your conversion goals.
The more range of assets you provide, the more it can make customized ads for different channels to capture as many consumers as possible.
6. Negative URLs
Account level negative keywords is an upcoming feature of Performance Max which allows you to exclude certain keywords from your ad campaigns to prevent consumers browsing content with those words from seeing your ads, to better customize your campaigns.
7. Final URL expansion
A Performance Max ad campaign might change your final URL with a more relevant landing page and headline for the best performance linked to customer intentions. This option can be turned off in the settings.
What we know by now is that Performance Max is a campaign made to increase conversions by targeting across channels using automation and audience signals provided by the business, leading to an optimized campaign with a lower CTA.
Performance Max is a dynamic Ad campaign which combines the best of features from the pre-existing campaigns and has something for every business. Be sure to check it out for yourself to find out if it’s your thing.
We hope that this post covers all the basics you might need to start your own Performance Max campaign. For more information on how to set up a campaign, you can check out the guide provided by Google here.
Digifine Digital Marketing Course have an in-detail module on Google Ads and cover Performance Max on a professional level. If you’re looking to be a qualified professional in Google Ads, do check them out here.
Keep an eye out on our blog for more insights as we explore Performance Max for ourselves.
Let us know your thoughts on this new campaign in the comments!