How Google’s New Ad Campaign can
Transform your Business Growth
Are you an SME? Or a Local Business? Maybe an MNC?
Google’s latest ad campaign – Performance Max, is right for everyone and can help you grow your business at unprecedented velocities and lower costs.
What is Performance Max New ad campaign by Google ?
Performance Max ad campaigns by Google are a new way of running ad campaigns on the Google Ecosystem. These campaigns are a new way for advertisers to buy and optimize Google ads across YouTube, Display, Search, Discover, Gmail and Maps from a single campaign. It is a new campaign type in Google Ads that uses artificial intelligence and machine learning to boost your performance across the Google inventory. It may seem like another campaign type with the same unnecessary hullabaloo, but if you have been in the digital marketing field or have been ardently following Google, you would know that Performance Max is so much more. For the last half-decade or so, Google’s strategy has been to create a fully automated Google Ads platform. This is the beginning of the road to the future and a part of Google’s bigger vision; full automation.
Thanks to this AI-enabled algorithm, your marketing goals are always at the center of your strategy. The targeting is based on the conversion results you select in the setup, so your marketing intentions are prioritized above all else. Come what may, Performance Max will make sure to deliver your inputs depending on what you want to achieve. It will help you find suitable clients from the Google Inventory and impact them throughout the Google Display network with the most relevant advert.
All you have to do is provide Performance Max with an asset bank of ad creatives; copy, call to action, images, videos, etc. These would then activate Google’s Smart Bidding process across multiple channels, based on the advertiser’s budget and goals and automatically set bids. For example, let’s say at peak times, an advertisement costs $1.10, but you had conveyed instructions of a maximum bid of $1.00, your advertisement would not be posted. Regarding the bidding system, the algorithm has complete visibility in all Google advertisement (Adwords & Adsense) data, including information such as how many times an advert was seen and how many conversions it got. It’s essential to remember that bid strategies are based on conversion divided by value and costs (how much will you charge per display?). You can set a maximum cost-per-action or a goal value per conversion by setting your own goals for your target audience, allowing for Cost Per Action (CPA) and Return On Ad Spend (ROAS) strategies.
Similarly, based on your goals, Google’s machine learning will find your targets wherever they are present across Google properties. Previously, Google would use signals such as browsing history, location and cookies to determine who your most appropriate audiences were. But now they’re using Audience Signals so that you can quickly provide information about the specific people, places or things that are most likely to convert. Google will then adjust their campaigns based on this information, so you won’t need to wait around for them to ‘learn’ anything – which is great! Google’s Audience Signals algorithm recognizes your most influential signals about who will most likely convert from your ad campaigns. In other words, now you can tell Google what the best prospects are for your business and get a campaign structured around them – speeding up the launch and discovery stage for a campaign’s reach to people that matter! Here, Google would recognize your audience signals most relevant to your business by directly indicating the most likely consumers to convert. A 25-year-old woman would be more likely to buy a car than a 10-year-old child interested in vehicles (probably; assuming this 10-year-old kid is just another kid down your block and not a rich whiz-kid that you read about on the internet these days). The most helpful audience signals to provide are your data, including customer match, website visitors lists and customer segments.
The Performance Max ad campaign rolled out by Google in the previous year (Beta Phase) is still controversial because not everyone understands its potential benefits. It has only recently opened, in the last month, to all advertisers worldwide. Some people believe that it works, while others, who may have tried it, do not see any improvement in their leads or sales due to its incorrect employment. All those who have run successful campaigns and utilized this new format effectively found a remarkable improvement in their respective targets; sales, leads, brand awareness, reach, engagement and tons more.
Examples of efficient Performance Max campaigns:
- 15% lower cost-per-lead compared to generic Search campaigns, according to Allianz
- 39% increase in test drive leads at an 83% lower cost-per-lead for SAIC-MG Motors
- Joybird and its agency Go Fish used Performance Max to help deliver 95% in revenue lift at a 40% higher ROAS
Another feature the Performance Max campaign produces is its addition to the Insights page. The Insights page is a nice feature for most of us, but how many really use it to its full potential? How many of you actually log in to the Insights page and study it to get the rich perception and intuition you have been looking for? The Insights page provides us with many insights, and the Performance Max tool makes it so much easier for us to take those insights. Explore the Insights page to comprehend driving performance and determine which customer segments are performing well – including target audiences you had not expected. The Performance Max tool will help you understand how automation works and improve your campaign. You can also see how your top-performing assets are combined to build creatives using the Combinations report. Keep an eye on what’s working best – and keep doing more of it, and get rid of the below-par assets!
In the next few months, Google will introduce new features in Performance Max designed for businesses and companies with physical locations. For example, you’ll be able to focus your campaigns even more on getting your potential customers into buy mode. So, suppose you own a store that has a local inventory feed of your products available on it. In that case, you will be able to take advantage of Google Maps and Search Ads as Google would provide you with more information regarding your product lineup. Two new types of ads will also be made available on the platform. One of which is custom to encourage foot traffic at your establishment by displaying products directly. Whereas the other can help generate revenue further down the line through online sales conversion – though this may take longer than trying to get someone physically inside your doors quicker! Next (you should be excited about this one), you’re about to get more for less. Google will be upgrading Smart Shopping and Local campaigns to Performance Max next year, which will inevitably help you achieve your goals faster. Google has vowed to continue investing in Performance Max, which will become the top-of-the-line product in the market while simplifying your operations by keeping only one campaign. This will also mean that Google will improve their automation technology over time to help you perform better on Google Ads.
Google’s Performance Max ad campaign offers significant advantages to advertisers. It’s best not to restrict your own company; limiting your potential won’t make sales come any easier. Start ahead of the curve and don’t fall back on your competition by preparing yourself for all the upgrades and changes Google introduces to Performance Max by beginning right now. Now is the time if you are not using Google’s performance max ad campaign. Contact us or book a consultation call and get going with our experts who can guide you on building a Performance Max ad campaign that works for you!
Finally, let us once again quickly go through the major benefits of operating with Performance Max:
- Increasing Conversions and Value
- Finding New Customers
- Gaining Richer Insights
- Working together with Automation
Upthrust Inc. has now been recognized as a Top 20 Austin PPC Agencies in 2021 by DesignRush. Thank you for reading and we are always excited when one of our posts is able to provide useful information on a topic like this!
Share the article