In Google's recent live stream, they announced that they would be rolling out Performance Max campaigns to a much larger pool of advertisers.
As Google describes it, Performance Max is a new goal-based campaign type that allows advertisers to access all Google Ads inventory from a single campaign.
Using the information that you put in, Performance Max will use machine learning models to drive performance and find more converting customers across all of Google's channels, including YouTube, Display, Search, Discover, Gmail and Maps.
Note: Performance Max will show as a campaign type selection if your marketing objective is "Sales", "Leads", or "Local store visits and promotions".
Based on the advertiser's creative assets, including copy, images, and videos, Google will serve up responsive ads across multiple channels. Much like what we're already familiar with in social campaigns.
According to a case study shared by Google, some advertisers saw an 18% increase in leads at a 70% lower Cost Per Acquisition than traditional Search campaigns.
What are the main benefits of Performance Max campaigns?
Better performance
Through its advanced machine learning and attribution technology, Google claims the new Performance Max campaigns will improve performance by finding your customers at the right time across multiple channels.
Goal-focused campaign
The new campaign type is designed to drive performance based on your specific conversion goals. Through the goals, you specify that Google's AI can find your customers across the different properties.
Guided automation
One of the main advantages of Performance Max campaigns is the automation and the fact you can steer this automation.
Not only will you be able to provide signals about who you're most relevant audience is through Audience Signals – ultimately speeding up the campaign learning period, but you can also take full advantage of CPA & ROAS strategies by setting your own targets.
Focus on strategy
This automated campaign type frees up your time to focus on strategy & high impact planning.
Our initial thoughts
The numbers quoted by Google in their early case study are pretty impressive. And if Performance Max campaigns really can drive 70% lower CPAs vs traditional search, then this is a really exciting new offering.
We can't help but think such numbers whilst running display, YT & Gmail sound a little optimistic, but that's all the more reason we're looking forward to diving into this new campaign to see how it performs against a team-built strategy.
We'll update you with our findings once the new campaign type is rolled out globally.
