What Is Performance Max & What Are Its Benefits?

Looking to up your Google Ads with Performance Max? Here’s why you should use this feature, and how they will benefit your campaigns just like they have for our clients!

By Becky Harding

Apr 8, 2022

Say hello to Performance Max, the new campaign format brought to us by Google! What is Performance Max? Soon to replace Smart Shopping and Local Campaigns, Performance Max allows us to tap into all Google Ads networks from a single campaign, including YouTube, Display, Search, Discover, Gmail and Maps.

This multi-channel campaign type is an effective way to improve the performance of all ads found on Google. And in this article, we’re going to outline the key benefits of this new system that can give your business further reach and potential for conversion. Here’s everything you need to know about Performance Max Campaigns:

What Are Performance Max Campaigns?

When it comes to the question of ‘what is a performance max campaign?’, the answer is a goal-based campaign that allows PPC managers and other advertisers access to all ad inventories through one single campaign.

What Are The Benefits Of Performance Max?

Learn more about the benefits of Performance Max, how our very own PPC Manager has inputted this format into our clients’ accounts, and why you should do the same below.

“Since inputting Performance Max over the past three months, our PPC team has seen substantial improvements in all campaigns. Compared to the previous Smart Shopping format, ROAS’ have significantly increased. In fact, our biggest client has seen a whopping 300% increase along with a 75% reduction in CPA.” Becky Harding, Soshell PPC Manager

INTUITIVE & STRAIGHTFORWARD

The Performance Max campaign type has a simple step by step setup process, which has become even simpler in April 2022. With the launch of Google’s automatic upgrade tool, you can advance your Smart Shopping to Performance Max in just one click.

Performance Max has introduced the ability to create detailed campaigns with highly targeted audiences in the intuitive campaign creation process. For instance, customers who have reached certain milestones in their lives, have specific purchase intents or users who browse particular apps and websites.

For Soshell, our biggest client is a jeweller, and this intuitive campaign has benefitted the likes of their wedding ring campaigns. The campaigns have seen a 100% uplift in conversions and a 40% reduction in CPA following the introduction of more specific audience targeting. As this campaign can focus on soon-to-be-married couples.

CAMPAIGN OPTIMISATION

Performance Max is also fantastic for increasing your online leads, thus delivering your business conversions by automatically amending budget and bids across all platforms from Google. Because of this, you can be way more efficient in your campaign goal performance. Generic search campaigns require ongoing management, whereas Performance Max allows you to simply add your budget, goals and measuring points within conversions. Then, you can leave the rest to Google’s automated ad technology!

DATA INSIGHTS

Not only can you specifically target audiences, but you can learn how Google’s algorithm deals with your campaigns. There are several algorithm updates throughout the year. Using Performance Max, you can identify which audience segments and image combinations deliver you the greatest results in reaching users. This can help you when designing future campaigns.

Furthermore, Google will even update search terms and demand forecasts throughout these campaigns to stay current and to avoid the risk of becoming irrelevant or stale.

What Are The Disadvantages of Performance Max?

Unfortunately, all great things have flaws and Performance Max is no exception. This new campaign format fully relies on Google’s automated bidding strategies, which dramatically reduces an advertiser’s control over their bids. Gone are the days when we could micromanage every bid with an Enhanced CPC bidding format. Now, Google is shifting its focus to maximise conversions and conversion value bidding strategies.

Performance Max Campaign Management By Soshell

The shift to Performance Max campaigns in Google Ads is fast approaching, with businesses being encouraged to make the switch in April 2022. Manual control of your campaigns will become a thing of the past. With many advertisers now opting for a more automated bidding strategy, allowing them to harness the power of Google’s machine learning.

Performance Max will quickly become the new standard for most advertisers; however, its significantly increased reach and new audience targeting features will allow us to tap into new channels and continue to expand into new markets throughout 2022. If you’d like assistance in managing your Performance Max campaigns, we’re your people.

Our in-house PPC team has the skills and knowledge to optimise your existing campaigns and design new Performance Max ads to tap into new audiences and deliver your business with its desired conversions. For further information and a bespoke quote, get in touch with the Soshell team at [email protected] and let us help you dominate Google.