Google has announced 4 brand new features to Performance Max campaigns.
Performance Max was introduced to improve results, increase transparency, and essentially automate campaigns based on the needs of your business via machine learning and automation.
Here we provide more detail on these new features and what they mean for your campaigns going forward.
1. Seasonality Adjustments
Does your business runs seasonal promotions or events? You can now inform your Performance Max bid strategy of these events. If using Smart Bidding, this will already account for regular/predicted seasonal events. These are identified through machine learning over time. If however you have a one off/new event that you predict will make drastic changes to your conversion rates, seasonality adjustments could be the solution for short periods between 1-7 days.
2. Data Exclusions
Although we’d love for our campaigns to always run smoothly, it’s true that sometimes external factors can affect conversions. To help overcome issues such as bugs or tagging issues, Google has introduced data exclusions. This means you can now exclude certain date ranges where your conversion data may have been affected. Resulting in more accurate reporting data.
3. Explanations
This is another tool seeking to provide additional recommendations towards improvements in performance. Explanations works by recognising and informing advertisers of fluctuations in performance. This can include analysing your top selling products, product status and product types. It is able to detect issues and fix them as swiftly as possible.
4. Optimisation Score
Google uses optimisation score to rate your performance between 0-100%. This score is calculated in real time and is affected by many factors including your account settings and bid strategy. The benefit of optimisation score in Performance Max is to understand where your campaign has potential to grow. Google then makes recommendations on how this can be achieved.
For more information on these brand-new features, speak to our team today.