Google has launched a new feature and tool called Performance Max, and it is aimed at supporting online entrepreneurs. This new tool is actually a new Google ads campaign type, on its own. And is designed to improve your advertising strategy through the power of automation and machine learning.
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The format of “Performance Max (PMax)” campaigns was introduced at Google Marketing Live in 2021 with a primary objective to increase lead generation, and drive online sales, and in-store visits without using the Google Merchant Center product feed.
Google’s Performance Max: Next level automation
According to a Google case study, PMax campaigns grew qualified leads for MotorK, an automotive sales, and marketing technology company, by 24%. In addition, Click-Through Rate (CTR) was improved by +30% compared to existing search and display campaigns.
The way Performance Max works is using heavy automation and IA mix. The machine learning component of this equation is aimed at helping entrepreneurs who have neither the time nor the money to hire or develop in-house, an entire online marketing division.
In that sense, Pmax helps advertisers who have zero to non-experience using paid online marketing campaigns, to reach their specific conversion goals.
The campaign types in which PMax offers support have a broad reach across Google’s Network, reaching customers on:
- Discover Feed
- Shopping Ad Inventory
How does Performance Max work?
The core of how Performance Max works is based on the idea of machine learning used to serve audiences a relevant ad with an optimal bid to maximize campaign performance.
An advertiser selects a marketing objective and then chooses the conversion goals that support the objective.
To ensure that your campaigns are optimized to drive the best ROI through automation, assign more than one goal and different values to conversion to a single campaign.
With a focus on goals, PMax campaigns use automated bidding and targeting technology to help you invest your budget more efficiently to spend where the highest-ROI opportunities are.
More information, as well as a tutorial, can be found directly from Google here!
Will you trust automation and IA criteria to run the marketing campaigns for your e-commerce? Let us know in the comments!