Product feed explanations
All marketers using Google Ads will be aware of explanations – insights the engine gives about fluctuations in performance. While they are already available for Performance Max campaigns, it is now possible to see explanations about your product feed. With this new addition, you are able to see useful explanations about your product type, listing groups, highest selling products and product status. All of this allows you to see the biggest changes in performance, and gives you the information to react accordingly in order to achieve your business goals.
Asset group scheduling
Another useful tool for this holiday season is asset group scheduling. You can apply automated rules to your Performance Max asset groups to schedule when they should be enabled or paused. This means you can schedule them to be enabled to make sure that they are approved in time or to be enabled between specific hours of the day. Not to mention, the convenience of not needing to manually pause and enable asset groups.
By far the biggest and most important feature is the addition of the performance planner. One of the biggest gripes for marketers running Performance Max campaigns was not being able to use the performance planner tool. Now that it is possible to use it, you can forecast what performance could be in order to maximise ROAS and profit. It’s even possible to adjust your ROAS or CPA targets and budget in order to simulate how performance could change. This is especially useful for the holiday season as it takes into account seasonal events, making the forecast even more accurate.
In the coming weeks, Google is planning to roll out two new features that will improve Performance Max campaigns. The first is expanding the number of headlines from 5 to 15, this allows even more testing of combinations in order to find the best performing one. The second planned feature is adding data segments to the insights page. This will allow you to see which of your customer lists are performing best.
During this important time of the year for many businesses, Google’s new Performance Max features are extremely useful for reaching your business goals whether they are sales or leads. If you would like help setting up or optimising your Performance Max campaigns, please contact us.