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Both Performance Max and Search have unique pros and cons when it comes to digital strategy. It is a best practice to always run a Search campaign if budget allows, as there is more control over targeting using keywords.
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Deciding whether to run Search or Performance Max for your community? Here is your guide on Google Search and Performance Max campaigns, how they differ, how they work together, and how to get the best results out of your digital advertising budget for your community. Search • Google Search ads are keyword-driven digital ads that appear on Google and Google's partnering sites. • Search adsare text-based ads that only use images as extensions. • The goal of a Search campaign is lead generation. They attract people who are actively searching for apartments and allow us to use this for community's benefit.
Performance Max • Performance Max is an AI-supported campaign type that utilizes audience signals to curate ads based on specific goals. • Audience signals are the main method used to target users – these signals are based on user behavior and interests to help predict conversion trends . • Google’s AI takes your creative assets and creates custom ads that are most likely to drive conversions.
Performance Max campaigns are intended to complement existing keyword-based Search campaigns to help find more converting customers across additional channels like YouTube, Display, Gmail, Search, and Maps. We rely on Search campaigns to target niche keywords such as our own brand name, competitors, unique amenities, etc. While effective in reaching a high-intent audience, bidding on specific keywords can be extremely costly, with high-volume and highly competitive keywords ranging between $1 - $5 per click. Performance Max allows us to fill in the gaps by using keywords, information we provide, and information learned from our existing Search campaigns to place ads on other channels. Performance Max utilize Google's AI to target users and bid on placements where a conversion is most likely to occur. P Max placements are usually cheaper because the targeting is broad and there are a variety of placements. Meaning that there is more available inventory.
There are many factors at play when deciding on the most efficient way to spend your digital marketing budget. After determining what your goals are for your campaign, take a look at the following chart to see how Search and P Max can elevate your strategy to hit your property's benchmarks!
How much budget should I allocate to my campaign?
$2,000/month is a healthy starting budget to sustain a Google Search campaign.
$1,000/month is a healthy starting budget to run a successful Performance Max campaign.
Search Pros
- Targeting higher intent users
- More control with keyword targeting
- Visibility into user data
- Control over where ads appear
Search Cons
- More expensive
- Serving ads on only one channel
- Competition effects performance
Performance Max Pros
- Cost effective
- Ad appears on multiple channels
- AI optimized
Performance Max Cons
- Less control over targeting
- Users can be lower intent
- Less visibility into user data
Both P Max and Search have unique pros and cons when it comes to digital strategy. It is a best practice to always run a Search campaign if budget allows, as there is more control over targeting using keywords. We recommend adding in a P Max campaign to complement Search to get the best of both worlds – keyword targeting and AIoptimized ads. This is a best practice unless there is a limited budget in which P Max could yield better results due to Search being a more expensive tactic. All in all, the best results are yielded for your community when Search and P Max are used together for a maximum return.