le’s Performance Max Best Practices Guide receives major update

Google has released significant updates to the Performance Max Best Practice Guide.

Retail marketers are now advised on new strategies to optimize their campaigns and increase conversions.

Why do we care? Your strategies to optimize your campaigns could be outdated, and therefore ineffective, and cost you money.

What is new? This updated document includes new features and tools that marketers can utilize to improve their marketing campaigns.

• PMax Benefits The updated guide explains the benefits of switching from Standard Shopping campaigns and PMax to increase conversions.
• A/B Testing – The document recommends A/B tests in order to show that the switch from Standard Shopping campaigns over to PMax increased conversions. It encourages you to use PMax if you are satisfied with your results.
• Plan your budgets early using Performance Planner – This article explains how you can use Google’s Performance planner to evaluate the projected performance of your campaign on a monthly and quarterly basis. The tool can be used to receive recommendations for how to modify your campaign with the same budget. The tool’s forecasts can be adjusted to reflect seasonal changes, allowing marketers to better identify opportunities for conversion during important periods such as holidays.
• Seasonal action The guide contains tips for reducing ROAS goals to increase visibility of high-priority items during key periods. For example, the weeks leading up to a holiday. Google recommends setting ROAS goals that are more aggressive in advance to make sure your campaign reaches customers who are already looking for products and maximizing conversions.
• Consolidation Google recommends consolidating campaign structures whenever possible when you create a new PMax Campaign. This allows AI to optimize performance using a single budget across all channels.
• Reaching High-Value Customers_ Google has launched its New Customer Acquiring with High Value Optimization Tool in Beta. This feature is designed to optimize campaigns for customers who have a high lifetime value predicted, while also optimizing for new customers.
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  Get more insights and reports
  
  The updated document provided information about its new reporting functions, such as:
  • Asset group metrics
  • Performance Change Insights
  • Tests of strength and creativity
  • Product-level data

What has Google said about it? Google posted an update in its Help Centre announcing its new features. A spokesperson stated:

• We’ve developed these best practices to help retail marketers running Performance Max campaigns using a Google Merchant Center Feed.
• These guidelines can help you reach your goals of increasing sales and reaching new customers.

Deep dive. Google’s Retailer Guide is a great resource for further information.

The article Google Performance Max Best Practices Guide gets major updates first appeared on Search Engineland.