03 April 2023 |
Media and Advertising Industry
More than a year after Google introduced their latest addition to the Google Ads’ campaign suite in late 2021, Performance Max (PMAX), brands around the world have given their shot at the highly automated, all-channels-inclusive ad campaign, to access placements and audience segments that are exclusive to only Google Ads.
Latest updates to Performance Max in Feb 2023
Constant software updates and bug fixes are carried out by Google on a weekly, if not daily basis, across their various ad tools, making it a norm to see new features frequently being tested and rolled out in Google Ads. PMAX is no exception, with long-awaited additions finally announced by Google in February. Besides sharing the aggregate PMAX usage results, an 18% uplift in conversions without inflating CPA, Google Ads also promised a higher level of control and reporting capabilities for advertisers.
Specifically, advertisers are now able to:
- Add keyword negatives to exclude any existing users or those who searched for your Brand previously (and focus on new users only).
- Leverage the built-in Video editing tools to create video ads from existing creative images. User-friendly video ad templates available within the tools allow ad creation in minutes.
- Monitor performance via the most crucial conversion metrics, now available on the asset group level.
How to know if PMAX is the solution you seek for your business?
After a year of trial and error, Google Ads experts have put together the key characteristics often seen in brands with successful PMAX campaigns:
- They have accurate and holistic conversion tracking set up and can set up additional custom reports to look further into in-depth campaign performance, bypassing the current reporting limitations in the platform.
- They have successfully run a combination of Google Ads campaigns before, especially Discovery, Display & Smart Shopping, with access to extensive learnings, campaign data, & identification of the most effective targeting segments for their business. If you have seen great results from running Discovery or Smart Shopping before, chances are PMAX will amplify your success even further at a highly similar cost efficiency.
- They have a strong variety of high-quality creatives (curated text, video, and images in all accepted formats) & maximum usage of first-party data for re-marketing and audience expansion purposes..
Navigate your PMAX strategies with creativity.
Being an AI-powered, automation-first campaign type, PMAX is believed to yield the best results when combined with extensive audience data, a strong initial budget and a campaign timeframe that allows the initial learning period to be. While experiments are recommended for any advertisers interested in this campaign type, some key performance factors such as the high level of elasticity around PMAX’s cost-per-click, and low visibility over platform-specific reporting should be taken into consideration before trialling PMAX for your business
Advertisers are sharing various creative solutions around placement exclusion, narrowed audience targeting, or pairing up PMAX with traditional SEM campaigns, all with the end goal of making the most out of the high-reach nature of PMAX.
What are Performance Max Campaigns?
Late last year, Google began the rollout of Performance Max campaigns after extensive beta testing. This new campaign type uses machine learning and automation to simplify how advertisers meet their marketing goals. Google’s introduction of a new campaign type represents another push towards the automation of the Google Ads platform.
What makes Performance Max different from other campaign types?
The defining feature of Performance Max campaigns is their ability to serve ads to relevant users wherever they are on Google’s network. Previously, an advertiser looking to reach customers across multiple channels would need to create a separate campaign for each channel. Performance Max simplifies this process by serving ads across multiple channels from a single campaign.
Another key difference is the campaign type’s automation-first approach. Once advertisers have selected a campaign objective and uploaded a collection of assets, Google will automatically generate ads to be served across all channels. Over time, the campaign will use learnings to automatically optimize towards hitting conversion goals as efficiently as possible.
What does Performance Max mean for your brand campaigns?
While Performance Max campaigns aren’t expected to completely replace other existing campaign types, they will likely play a prominent role in Google’s advertising platform moving forward. They represent a new opportunity for brands to combine their unique marketing goals with Google’s powerful machine learning technology, and potentially show your ad to the right user, in the right place, at the right time.
However, the high degree of automation associated with this campaign type presents potential drawbacks. An all-channel approach may be inappropriate for brands looking to minimize spending or who have an understanding of how their message performs across different channels. Further, Performance Max campaigns remove control of what ads are presented and where they are shown, which could make it challenging to ensure brand safety.
Reach out to your ADMATICian to find out whether Performance Max campaigns are right for your brand.Next Article