Google’s Performance Max
How could advertisers benefit from it?
What can Google’s Performance Max bring to advertisers?
You can now drive better results across all Google Ads channels and inventory thanks to Google’s Performance Max campaigns, the new way to buy Google ads from a single campaign.
Through Google’s Performance Max you can scale your keyword-based Search campaigns and convert more customers across all of Google’s channels. You can access all of the Google Ads inventory via a single campaign and gain additional reach and conversion value.
What is Performance Max
Google Performance Max was launched globally in May 2021. However, many businesses and advertising agencies are only just starting to use Performance Max for their digital advertising efforts across multiple channels – particularly for promoting e-commerce products and services, mobile apps, and games.
What makes Performance Max stand out is its ability, for the first time, to allow advertisers to increase conversions across all of Google’s range of ad channels.
The results of this are impressive: Google itself states that advertisers who have used this tool have achieved 13% more conversions. In addition, it maximizes ROAS by leveraging the features and potential of platforms connected to Google.
How does it work?
Google’s Performance Max aims to gain more conversions by optimizing ad-performance in real time by utilizing Google’s AI solution Smart Bidding.
Brands upload all campaign assets to Performance Max, then set a daily budget cap, price per conversion and the type of conversions they are aiming for.
Google treats all channels equally, automating ad buying across all platforms in order to maximize budgets and bids.
This is done via a powerful combination of its real-time data on shopper intent and a AI-driven decision making solution.
Data is the most important factor that helps Google identify users who are more likely to convert.
Text, Video and Image Asset can be combined with any other asset to create ads across the entire Google Ads inventory.
To know more, read this article.
You‘ll be able to leverage Performance Max for Target CPA and Target ROAS strategies.
Bidding Strategies includes:
- MAX Conversions
- MAX Value
- MAX CPA or value/conversion target
MoneyMe, a digital financial services company, found that through Google Performance Max campaigns they experienced a 22% increase in conversions, over $800,000 in revenue from new funded loans, and a 20% reduction in overall CPA. Currently, given these results, the company has decided to permanently introduce this type of campaign into their digital strategy.
One of the key strengths of Performance Max is that anyone can use it but harnessing it to its full potential takes in depth knowledge – this is where our team steps in.
We have years of experience with this tool, and have been working with the algorithm since it was first released.
For smaller clients, we can help to set and manage campaigns for the first time, and show them how to continue to scale.
For more mature brands we can help to optimize budgets on Performance Max, explaining when and how to use it to gain the best ROI.
Ultimately, our aim is to educate brands on how to use this tool to achieve optimal results and become more independent in their marketing efforts.
Don’t miss out the opportunity to consolidate your campaigns and obtain concrete results for your strategy thanks to Performance Max.
Contact us to discover how we can help you.