Unlocking the Power of Google Performance Max: A Mediagistic Case Study

We all love bundles, right? Disney+ and Hulu — sign me up! A 3-day park-hopper pass at Disney? Yes, please. Save by combining home and auto insurance? You betcha!

Well, Google’s new(ish) ad-platform, Performance Max, does just that, but with some added features that make it even more enticing.

Budget-planning has long been a thorn in the side of many marketers. How much should we invest in this channel versus that one? What’s the right mix? How does the customer journey fit into the strategy we’ve outlined? Performance Max removes a lot of that guesswork.

What is Google Performance Max?

Performance Max (or “P-Max” for short) combines Google’s most powerful platforms into one campaign, one strategy, and arguably most-importantly: one budget! P-Max allows marketers to reach potential customers across: YouTube, Gmail, Display, Search, and Discovery. Marketers historically have had to segment budgets across all those platforms to satisfy the needs of their customers (and potential customers) across the buyer’s journey.

Watch this video for more details:

As you can see, P-Max delivers the best of both worlds, combining branding with lead generation to stretch budgets further and provide more value for the dollar. Let’s look at the branding and lead-gen value that Google P-Max Ads can provide.

Mediagistic Case Study: Google Performance Max Ads

Mediagistic recently completed a 6-month test with a segment of approximately 40 customers who were simultaneously investing in P-Max and Google Search (PPC) ads. Here’s what we found:

How Google P-Max Ads Affect Branding

During that aforementioned 6-month timeframe, P-Max delivered 5x more impressions for about 1/3 of the budget. While those numbers on the surface look good already, if you dig in a little more, you’ll see there’s even more value to be had.

Google Search Ads (PPC) are predominantly text only, so while they can help drive leads, their value in creating brand awareness is minimal at best. P-Max, alternatively, during that same time period, would’ve been delivering a combination of Search (PPC), Display and Video ads – creating more long-term brand equity and value for the advertisers.

I know what you’re thinking: “Ok, but what about the leads?”

Lead Generation with Google P-Max Ads

During our test, the cost per click on our Google Search campaigns was nearly 10x that of the P-Max campaigns ($20.41 vs. $2.96). In addition to a lower cost per click, the cost per conversion on the P-Max campaigns was about 1/3 less than the comparable Google Search campaigns.

Google Performance Max 6-Month Test: Our Conclusions

In summation, the P-Max campaigns provided more brand value (impressions with video and display), more clicks, lower cost per click, and a lower cost per conversion than Google search ads alone. There’s more work to be done on our end to see how P-Max stands alone as an advertising choice.

Backed by the evidence we’ve seen over this 6-month period, however, our working theory is that, where possible, coupling P-Max with a healthy search budget is ideal. Customers with smaller budgets however could really benefit from a standalone P-Max campaign and take a full-funnel approach to their marketing, while maximizing the dollars they have available.

Strategic Google Ads for Businesses of Any Size

Whether you’re a large business looking to enhance your multi-channel strategy or a smaller enterprise aiming to maximize every marketing dollar, P-Max provides a compelling solution. Ready to explore how P-Max can elevate your marketing efforts? Contact one of our Mediagistic experts today to get started on a tailored strategy that aligns with your business goals.

Adam Smith is the Vice President of Channel Marketing at Mediagistic. He’s a driven marketing and management professional with 15+ years of experience and a passion for his work. His role requires expertise in every aspect of advertising, but also necessitates the ability to understand a business’ objectives and provide recommendations that drive results. Whether collaborating with an individual business or a marketing manager looking to drive results, the goal never changes – gain market share, increase brand awareness and make the phone ring! Connect with him on Linkedin.

Images via iStock