Google Ads Performance Max is a relatively new “goal-based campaign” that is set to completely replace the Smart Shopping and Local Campaigns by Q3 of 2022.
Performance Max started in November 2021, and advertisers could begin the process of upgrading their Smart Shopping Campaigns this past April with a one-click tool. Advertisers using Local campaigns had the option starting this June
Have no fear, though – Google will automatically upgrade Smart Shopping or Local campaigns in July and August and should have all automation completed by September.
Performance Max allows advertisers “to access all of their Google Ads inventory from a single campaign,” and aims to help discover “more converting customers” across Google’s channels. Many of the pre-existing settings will remain in place, which will help make life easier.
There also is no manual bidding.
It may take some time to get used to the new settings, but here are some tips for you and your company as you make the transition to a more-automated Performance Max system.
Performance Max campaigns are aimed at helping companies optimize a single campaign spread across multiple channels. They utilize smart bidding and targeting across the Google network, which is quite powerful and has a vast audience of potential customers.
Using multi-channels compared to one is a strong strategy since companies using a multi-channel approach received a 287% higher purchase rate, according to a 2020 omnisend.com report. Performance Max campaigns can now tap into channels that perhaps you had not been using before within Google’s strong and powerful network.
Google lists five benefits to this transition, and has provided a guide for companies that are making the transition:
Unlocking new audiences across Google’s channels and networks. This is designed to help convert more customers across channels like YouTube, Search and Discover. The Google Display Network reaches more than 90% of worldwide internet users.
Driving better performance against your goals. This is aimed at producing more conversion, which is obviously a goal of all marketing campaigns.
Receiving more transparent insights, including automation knowledge. This data will help users see how their best assets are being used and where improvements can be made. You will learn which assets are producing the best return on investment.
Steering automation with your campaign inputs. Performance Max uses the information to help set your bids and produce an uptick in conversion rates.
Simplifying your campaign management and simplifying ad optimization. Performance Max campaigns can house multiple goals within one campaign, rather than needing a separate campaign for each of the individual goals. Performance Max differentiates from Smart Shopping in that there are more conversion goals accessible.
The first benefit is worth noting since Google showcases your advertisements across the channels where your audience is the most active. This is important since Google reports that 91% of feed users have taken “shopping or product-related action” after seeing a new product.
That excellent percentage can boost your company’s rate of conversion. Google reported a 13% total incremental conversion increase at a similar cost per action (CPA) for Performance Max.
We recommend you transition your accounts to Performance Max rather than waiting for Google to automatically do so. It reduces the risk of potential issues and allows you the time to get used to the new feature, rather than running into issues when the transition is complete.
You can create Performance Max campaigns using the one-click tool option, and can choose whether to do so all at the same time or individually. The information and inventory from your previous campaigns will help create the new Performance Max campaigns. Your Smart Shopping and Local Campaigns will not be deleted and your data will still be accessible.
When creating a new campaign, be sure to add new assets to your existing asset group. These are important since Google can create them to meet specific ad formats and provide new advertisement options. Try to make sure your asset group sticks to a particular theme.
These assets can include copy, videos, images, and logos for your products. Google automatically will create advertisements best suited to meet your campaign’s goals. Obviously, the more assets you provide to Google the more advertisements it can create for its network.
For those that want to test your Performance Max campaigns, avoid using the existing targeting on your previous campaigns since priority is given to Performance Max campaigns.
This also applies to those that opt for a slower transition rather than all at one time. Google recommended in a Webinar that companies do not have the same products or targeting within their Smart Shopping campaigns as their new Performance Max campaigns.
Some examples of Max Performance success stories, according to Google, include:
–Allianz, an insurance company, boosted its leads by 15% at a lower cost-per-lead.
–Deezer, a streaming music service, increased subscriptions by 28% on “the web path” at a 15% lower cost-per-subscription.
–SAIC-MG Motors received a 39% increase in test drive leads at an 83% lower cost-per-lead.
THE FINANCIAL DETAILS
Performance Max allows for selecting multiple objectives for your campaign and adjusting the conversion values accordingly based on their importance to your campaign. Google eventually will automatically adjust those strategies as it learns more about your habits and customers.
As always, make sure you work within your budget and use the right bid strategy. You always want to stay within your meals to avoid spending needlessly.
While you can’t manually direct your bids, you can decide your campaign’s bid strategy and CPA. Establishing a CPA will tell Google the goal is to create as many conversions as possible.
WHEN TO AVOID
If you do not have readily accessible data for Performance Max to use, then using this new program may not be the best for you and your company.
Performance Max uses data to help create those bids and should complement your campaigns that rely on keywords search. It should not be your only campaign.
You also need to allow Performance Max the time to learn more about your campaign’s strengths and weaknesses, which can take time and money. Try to provide at least one to two weeks for online sales, and three to four weeks for those focused on in-store metrics.
We hope these tips have helped you learn more about Performance Max and how it can help your company’s upcoming marketing campaigns.
Be sure to keep checking Digicom for all the latest marketing news, trends, and tips for how to run your upcoming marketing campaigns!
SO, WHERE DO YOU FIND THIS PARTNER?
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