Google is upgrading Performance Max campaigns with new features specific to promoting holiday sales more efficiently.
Compatibility With Performance Planner
Brands and marketers can now forecast the results of Performance Max campaigns with the Google Ads Performance Planner tool. The feature was previously available for Search, Shopping, Display, App, Video, and Local campaigns and is now compatible with Performance Max.
Google explains:
“You can forecast how your campaign may perform in the future and simulate what could happen when you adjust elements like your campaign budget and ROAS or CPA targets. Assess how changes to campaigns could affect key metrics like conversion value. Performance Planner’s forecasts are also adjusted for seasonal events so you can explore your potential holiday opportunities in the upcoming weeks.”
Asset Group Scheduling
With this update, Asset groups in Performance Max can now have automated rules. This allows marketers to schedule campaigns and utilize asset groups when needed.
With automated rules, you can also set ads to run at specific times of the day and schedule asset groups, such as preparing a set of holiday-themed content ahead of a special sale or key moment in time.
More Testing of Headlines
Google is increasing the number of test headlines you can upload to Performance Max asset groups from five to fifteen.
Adding more headlines enables Google to test a greater variety of combinations to identify the grouping that performs best.
Explanations For Online Sales Campaigns
Google is also adding new explanations specific to Performance Max campaigns for online sales with a product feed. When running a Performance Max campaign for an online sale, you may see explanations that offer an analysis of your product status and top sellers.
With this data, retailers can understand better which products had the most significant sales spike during the holiday shopping season.
First-Party Audience Insights
It’s no secret that cookies are going away in the coming year. So, marketers are seeking new alternatives to capture data insights.
Advertisers can now add data segments as audience signals in Performance Max campaigns, which helps Google find more customers for your brand who are likely to convert.
Data segments will be added to audience insights on the Insights page in the coming weeks. This allows you to learn more from the data you’re collecting firsthand and see which of your customer lists are converting best.
Best Practices for the Coming Holiday Season
Google has shared the following best practices for advertisers using Performance Max during the holiday shopping season:
- Adjust campaign budgets and ROAS or CPA targets leading up to peak holiday periods. This will help maximize visibility when customers are actively shopping.
- Consider using seasonality adjustments when running a sale that will drastically change conversion rates for longer than seven days.
- To promote sales of specific products, create separate campaigns with their own targets and budgets.
If you need assistance leverage Google’s Performance Max or with any of your digital marketing needs, please contact us today. Our experts are here to help.
