Google’s Performance Max campaigns are a brand new tool for advertisers that can help you broaden your reach, increase your conversion rate, and ultimately grow your business. Since their announcement in October 2020 and official launch in 2021, Performance Max campaigns have become the go-to advertising method for advertising across all of Google’s services and platforms. Check out the rest of this article for ways to keep optimising your Performance Max Campaigns and help your business grow 📈
Define and refine your goals
The first step for any ad campaign is to define your goals. Having clear goals will help you determine your budget, know which calls to action to use in your advertisements, and be direct and open with your customers. For example, your advertising strategy will be different if your goal is to sign customers up for a subscription or email list to promote repeat sales than if your business primarily relies on one-time sales.
Defining your goals isn’t simply a one-time thing, however, it’s an ongoing process. As your business grows and evolves it’s important to continue evaluating and refining your goals and changing your advertising strategy to suit them. What worked for you as a solopreneur with a small budget may not be the most effective method as you continue to scale your business up.
Use multiple assets to find what works
Performance Max campaigns let you use a variety of assets in your ads, so take full advantage of this. Google’s machine learning algorithms will automatically create ads with the assets you provide, so the more assets it has access to, the more it can test and work out which versions of the ad are the most effective.
A Performance Max ads campaign includes Youtube video ads, so if you don’t include a video ad in your assets one will be automatically created for you. While the machine learning algorithm can tweak the video ad over time, you can’t be sure that the video ad will reflect your product or service in the way you want so it’s important to include a video in your assets from the beginning.
As the campaign has time to run ads with all of your different assets, it will create a performance ranking based on which assets are helping drive the most conversions. You can view this ranking from the “View Details” tab in the “Asset Groups” menu; once your ad has run for a month or so take a look at this and consider removing any assets that may be underperforming.
Let your campaigns run
While Performance Max campaigns bring a few new options that weren’t available in previous Google ads, the crowning feature is the machine learning algorithms that can change your ad over time to increase its effectiveness.
If you find that your ad campaign isn’t driving the results you want, give it some time to work itself out. Google recommends keeping a campaign up for at least six weeks to give the algorithm time to do its job and to collect a large enough pool of data about your campaign for you to be able to make an educated decision about whether to keep running it or not.
Schedule your ads
Another useful feature that can help you increase the efficiency of your Performance Max campaign is Ad Scheduling. After running an ad campaign for a little while you may find that your ads are more effective at certain times of day, so it may be better to focus your budget on targeting those times.
Take a look at the calendar view for your campaign and focus it down to a single day to see if there are times during the day when your ad is performing particularly well. Do this across multiple days, and if you find a consistent pattern, go to the “Ad Schedule” page and change what times your ads will be run to reflect what’s most effective.
Choose the right bidding strategy for your goals
Who your ad converts to your page is just as important as how many conversions you get, so make sure you choose a bidding strategy for your campaign that reflects what your goals are. Google provides two options for this, “Maximise conversions” and “Maximise conversion value.” If you choose to maximise your conversions, you’ll be prompted to enter your target CPA, or cost per action, and Google will run your ad as much as possible within your budget to meet that CPA on each interaction.
If you choose to maximise your conversion value, you’ll need to provide the program with your target ROAS, or return on ad spend. This may drive fewer conversions than the “Maximise conversions” option, but it will predict the value of each conversion based on customer data and send customers to your website that are more likely to do business with you.
Utilise ad extensions to increase your on-screen real estate
Ad extensions are an under-used way you can help your ads command more attention from your target market. Ad extensions let you expand your ad with a variety of information, including your business location, extra links, and call buttons so customers can contact you directly. Not only does this provide your target customers with useful information, but it also makes your ad take up more space on the screen without being obnoxious.
Performance Max ad campaigns that utilise ad extensions properly often outperform the competition and boost click-through-rate by up to 20%. Ad extensions are best used when they directly answer common questions that people might have about your business when seeing your ad. For local campaigns, this might mean your location or phone number. For eCommerce campaigns, this could be more detailed information about your products, discounts, or shipping price.
Google’s Performance Max campaigns drive up to 13% more conversions than other campaigns and can cost the same amount or even less per conversion. Performance Max campaigns have replaced Google’s Smart Shopping, Gmail, and Local campaigns, and may eventually phase out the other campaign methods provided, so get ahead of the curve and start using the system now!
If you wanted any support with Google's new Performance Max Campaigns, feel free to reach out and contact us at firstname.lastname@example.org and we'll be sure to help 🚀