Google Performance Max

This post is a derivative of the following:

• Optmyzer Content Hub post "The Ultimate Guide to Performance Max Campaigns"

• DataFeedWatch Blog post "Smart Shopping vs Performance Max: What Are They And Which One Is Better?" by Jagoda Adamik-Borowska

• Google Ads YouTube Learning Series - Creating a Performance Max Campaign

• Broadplace post "How to Analyze Performance in PMax"

• Aaron Young YouTube Channel - "Optimising Performance Max Campaigns in 2024"

PMax (Performance Max) is a solution by Google to run fully automated campaigns across all of Google's ad channels: YouTube, Search, Display, Discover, Gmail, and Mapps using machine learning. Types of campaigns include Display Ads, Text Ads, Shopping Ads, etc. The automation takes into account you conversion goals, advertising objectives, and audience signals.

PMax uses "Asset Groups", which consists of images, videos, headlines, descriptions, logos, and audience signals to determine the top performing combinations... this is in place of the ad and product groups. Asset Groups represent a theme or audience for a list of items called a "listing group". This listing group can be based on single item IDs, brand, category, custom labels, etc.

With PMax, you can set what the conversion goal is, such as Sales, Leads, Website Traffic, Local Store Visits, or promotions.

So, how to get started:

1. Select main campaign objective and conversion goals

2. Choose Pmax as campaign type

3. Select budget and bid strategy

4. Choose your campaign location and language settings, start/end dates

5. Create an asset group and provide creative assets

6. Review the campaign summary and then confirm

7. Monitor and Evaluate Campaign Performance

Which skills are needed to manage Pmax Campaigns?

• A deep knowledge of Google Ads Ecosystem

• Data Analysis and Interpretation

• Feed Management

• Creative Skills

• Audience Segmentation

• Budget management

• Strategic planning

• Adaptability and Patience

• Technical Proficiency

• Communication Skills

Here are some things to keep in mind about PMax campaigns:

• It can take up to 2-3 weeks for some PMax campaigns to go live. 

• The average CTR for a PMax campaign is 1.19%, which is lower than the average CTR for Google Ads, which is around 1.66%. 

• PMax campaigns use Google AI across bidding, budget optimization, audiences, creatives, and attribution.