Google Ads has announced a series of updates to top performing campaigns.
The enhancements give advertisers more granular control over their campaigns, improve customer insights and better manage budgets.
🆕 ✅ Various #PMax updates announced today for more information, targets and control. Here are the highlights:
– New customer value mode is now in beta for purchase conversion goals. New customer acquisition goals are also available at #SA360.
– Customer retention objective to gain…
— AdsLiaison (@adsliaison) April 29, 2024
New mode of customer value and acquisition goals
Google Ads has introduced Customer value mode, currently in beta, designed for purchase conversion goals.
This update allows advertisers to focus on high-value customers and optimize their campaigns accordingly.
Additionally, new customer acquisition goals are now available in Search Ads 360 (SA360), enabling businesses to target and attract new customers.
Recover lapsed customers
Google Ads has launched a customer retention objective (in beta) to help advertisers recover lapsed customers.
This feature allows businesses to re-engage with inactive customers, potentially increasing customer loyalty and retention rates.
Detailed demographics and audience statistics
Performance Max now offers detailed demographics, including age groups and gender, in Audience Insights.
This update gives advertisers a more nuanced understanding of their target audience, allowing them to create more targeted and effective campaigns.
Statistics and budget rate forecast
To help advertisers better manage their budgets, it has introduced Google Ads budget rate knowledges.
These statistics provide predicted campaign spend and predicted conversion performance.
This feature allows businesses to make informed decisions about their budget allocation and optimize their campaigns for maximum ROI.
Account-level IP address exclusions
Performance Max now supports account-level IP address exclusions, giving advertisers greater control over their campaigns and allowing them to exclude specific IP addresses from their targeting.
Advertisers can view official Google ads blog entry to learn more about these updates and how to leverage them to improve campaign performance.
Test of optimization strategies
Perhaps the most intriguing update is the ability to run experiments testing optimization strategies directly within top performing campaigns.
The first strategy being tested is ‘Final URL Extension’, which dynamically directs ads to the most relevant landing page.
According to Google data cited:
“Advertisers using final URL expansion with top-performing campaigns see an average increase of more than 9% in conversions/cost-per-action (CPA)/return on ad investment ( ROAS) similar”.
Experiments will split the traffic, with one portion dedicated to testing while tracking performance with the original configuration.
The data will “reveal how this change affects campaign performance.”
Why SEJ cares
These updates demonstrate Google Ads’ continued commitment to providing advertisers with the tools and insights to succeed in an increasingly competitive marketplace.
The ability to optimize for different stages of the customer lifecycle, test optimization strategies, and spot audience opportunities are all valuable improvements.
Performance Max is Google’s future for performance marketing, so staying on top of new features and best practices is critical.
How this can help you
New customer lifetime value and retention goals could open up strategies to better nurture customers through the entire marketing funnel, from acquisition to repeat purchases.
More sophisticated audience insights about age and gender can highlight opportunities to better tailor messages.
Running optimization experiments could result in unique performance gains, especially if the dynamic final URL expansion option is used.
Leveraging these new controls and insights in Performance Max could improve efficiency and ROI for marketers.
Featured image: Tada Images/Shutterstock
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