Google Ads has improved Performance Max campaigns with its new updates. Advertisers now have more control over their campaigns, can gain deeper understanding of their customers, and can optimise their budgets more effectively.
These enhancements focus on three key areas: full-funnel optimisation, audience understanding, and the ability to test different advertising strategies.
In a blog, Google wrote: “Performance Max campaigns bring together the best Google AI innovations to help you drive results across all Google Ads channels and inventory. To put Google AI to work for your business and unlock the full potential of Performance Max, it’s essential to provide the right inputs. That’s why we’re unveiling new features designed to give you more control and deeper insights into your performance.”
Here’s all you need to know about the game-changing updates to unlock the full potential of Performance Max.
Customer Acquisition: New Value Mode and Broader Goal Targeting
Google Ads introduces the Customer Value mode for purchase conversion goals.
This innovative feature for Performance Max campaigns allows advertisers to assign a specific value to new customer conversions, enabling Google’s automated bidding strategies to optimise campaigns for acquiring those most valuable customers.
Furthermore, Google Ads expands its customer acquisition focus by introducing new customer acquisition goals in Search Ads 360 (SA360). This broader reach empowers businesses to leverage the power of SA360, a platform designed for large-scale campaign management, to specifically target and attract new customers across various channels.
Customer Loyalty Efforts with Retention Goal
Google Ads introduces a powerful tool for reigniting customer relationships: the customer retention goal.
Currently in beta, this innovative feature empowers businesses to reconnect with lapsed customers. “You can strengthen your relationships with existing customers to build a more comprehensive customer lifecycle strategy,” Google says in its blog.
Using the customer retention goal, businesses can improve their chances of keeping customers coming back and deliver the strongest return on investment at different stages of the customer lifecycle.
Know Your Ideal Customer: Deep Dive into Audience Demographics
Performance Max takes audience understanding to a new level with the introduction of detailed demographics within its audience insights.
Advertisers can now gain a more granular view of their target audience, including valuable insights into age and gender groups. This enhanced data empowers them to create laser-focused campaigns with sharper targeting and potentially significant improvements in campaign effectiveness.
Budget Management Power Tool: Budget Pacing Insights
Google Ads empowers advertisers to become budget optimisation wizards with the introduction of Budget Pacing Insights.
This innovative feature provides a crystal-clear view of projected campaign spend alongside forecasted conversion performance. With these valuable insights, businesses can make data-driven decisions about budget allocation and optimise campaigns for maximum ROI.
By leveraging Budget Pacing Insights, advertisers can potentially unlock significant cost savings and achieve peak campaign efficiency.
Granular Targeting Control with Account-Level IP Exclusions
Google Ads now allows for account-level IP address exclusions.
Google says, “You can now exclude specific IP addresses from seeing ads from your Performance Max campaigns to make sure they reach only the most relevant audiences. Exclude specific IP addresses (like your company’s) at an account level to filter out traffic that can drive unwanted ad interactions and costs.”
This means you can have greater control over who sees your ads, potentially preventing irrelevant clicks and optimising your campaigns for a more targeted audience.
Experimenting with Optimisation Strategies
In a game-changing move, Google Ads introduces the ability to run A/B tests within Performance Max campaigns. This allows advertisers to directly compare the effectiveness of different campaign optimisation strategies and unlock significant performance gains.
The first strategy under the microscope is “Final URL expansion”. This approach points users toward the most relevant landing page based on their search intent.
Google says, “Advertisers who use Final URL expansion with Performance Max campaigns see an average increase of over 9% in conversions/conversion value at a similar CPA/ROAS.”
Here’s how it works: Google Ads will split your campaign traffic, dedicating a portion to testing the “Final URL expansion” strategy against your current setup. By tracking performance metrics, these experiments will reveal the impact of this dynamic approach on your specific campaign goals.
Why Are These Performance Max Upgrades Important For You?
The latest Performance Max enhancements empower you to craft a seamless customer journey, optimise campaigns with laser precision, and ultimately achieve a stellar ROI.
Here’s how:
- Customer Loyalty: The new customer lifetime value and retention goals transform Performance Max into a powerful tool to nurture customers beyond acquisition. By focusing on the entire marketing funnel, you can develop strategies that foster repeat purchases and build lasting customer relationships.
- Hyper-Targeted Messaging: Granular audience insights, including age and gender breakdowns, shed light on your ideal customer. Use this newfound understanding to craft highly targeted messages that resonate deeply with each audience segment, maximising campaign effectiveness.
- A/B Testing for Peak Performance: The ability to run optimisation experiments unlocks a treasure trove of valuable data. By testing innovative strategies like dynamic Final URL expansion, you can discover unique performance gains that propel your campaigns to new heights.
These groundbreaking Performance Max controls and insights empower you to become a marketing efficiency and ROI champion.
Need a fresh perspective? Let’s talk.
At 360 OM, we specialise in helping businesses take their marketing efforts to the next level. Our team stays on top of industry trends, uses data-informed decisions to maximise your ROI, and provides full transparency through comprehensive reports.
