What exactly are Google Performance Max Campaigns?
According to Google, Performance Max Campaigns are a new goal-based campaign type that allows performance advertisers to access all of their Google Ads inventory from a single campaign. First released in 2021, they are designed to complement your keyword-based Search campaigns to help you find more converting customers across all of Google’s channels like YouTube, Display, Search, Discover, Gmail, and Maps. These ad campaigns use machine learning and automation to assist advertisers with executing preferred conversion goals.
How do Google Performance Max Campaigns work?
You can consider Google Performance Max Campaigns as a goal-based marketing campaign that leverages automation. It uses machine learning to deliver audiences highly relevant advertisements. It also provides optimal bidding to achieve the most efficiency from your ad campaign performance.
When running a Google Performance Max Campaign, the advertiser can pick specific marketing objectives and conversion goals that would help to achieve business objectives. This will eventually help to optimize the ad campaigns AI. In addition, this will allow advertisers to receive maximum returns on their investments.
Moreover, it is now possible to have more than one goal for an advertising campaign. This will also help to capture maximum conversions from a single marketing campaign across business objectives. While focusing on the end goals, these advertising campaigns will use automated bids to spend your budget more efficiently.
How to set up Google Performance Max Campaigns?
Before you start with Google Performance Max Campaigns, you will need to figure out whether it is the right advertising strategy. This will be a great option if you are a new advertiser looking to simultaneously achieve specific conversion and advertising goals across multiple ad platforms. For example, you no longer need individual, customized campaign platforms like YouTube, Gmail, or Google Ads. Instead, you can run a single marketing campaign to achieve these same goals. Moreover, you will be able to get additional conversion value and reach beyond traditional advertising campaigns that rely solely on keywords.
Once you clearly understand your goals and the platforms you want to advertise on, you will need to designate creative assets. Need some inspiration? Check out the top 40 examples of advertising ads from 2020 here. Your available assets include images, text, and videos, depending on the platforms you are leveraging in your ads. Next, you will need to take a look at optional feeds. They include Google Merchant Center, Google My Business, Business Data, and Dynamic Ads feeds.
You can start your Google Performance Max Campaigns once you select your assets and regions. This is where you will need to configure your geo-targets and budgets, most importantly. After that, you don’t have to do much work because machine learning algorithms and automation will take care of the rest!
You can generate detailed reports when you are running Google Performance Max Campaigns. These reports can help you gather all the essential information you or your client needs. For example, you will be able to see the top-level performance of the campaigns through reports. You can also generate reports by the time of the day or based on location, among others.
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How do Google Performance Max Campaigns benefit advertisers?
Google Performance Max Campaigns are gaining popularity as they offer numerous advantages for advertisers. Let’s look at some of the most prominent advantages you can obtain.
Conversion Driven Performance
You can create multiple conversion events for the marketing objectives you are trying to achieve, along with complex bid strategies. This flexibility allows advertisers to use ad budgets more effectively for the campaigns they wish to run.
Maximize Conversions, Target CPA, and Target ROAS are just a few that can help. Target ROAS can be effective for retailers where a transaction sale generated from Google Ads can be attributed to single or multiple campaigns. Performance Max can try and achieve a specific return on ad spend percentage.
Audience Focused Segmenting
Google Search queries will always be the foundation of understanding a person’s interest. However, audience interests are also vital. Therefore, knowing how to get the right ad, in the proper format, at the right time in front of the right persona is essential to driving conversions.
Interests include In-Market segments (what products or services customers are researching to buy). In addition, what their broader interests are, and what websites they tend to frequent are also valuable. Using audience targeting based on multiple insights and creating and using ad assets that connect to drive confidence in a decision is more effective.
Machine Learning
Moreover, Performance Max leverages artificial intelligence and ML to know when a person may be receptive to seeing a particular ad asset at the right time to drive a conversion event. Again, this could only be achieved through machine learning. It can then optimize by analyzing thousands, if not millions, of data points to find patterns.
Performance Max Campaigns are still relatively new but are the future of how Digital Marketing is progressing, using sophisticated strategies while adhering to best practices for consumer privacy on Google.
Final thoughts
As you can see, Google Performance Max Campaigns can be highly beneficial for those who run advertising campaigns on Google. Before Performance Max, advertisers would advertise on multiple platforms with separate campaigns. However, they were typically campaigns that ran independently of one another. With Performance Max, it’s like running all those campaigns in a singular focused effort where they work together to reach specific conversion goals.
Think Performance Max Could Work for You?
Curious to know if Performance Max Campaigns could work for your business? At Sorcery Media Group, we understand that setting up Google campaigns isn’t the easiest thing to do for everyone. For further guidance on Performance Max or how to develop a successful Google Ads strategy, get in touch with us today!
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Written by: Christopher Ulrich, Sorcery Media Group
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