Google has recently released its Performance Max campaigns, which are set to help you increase conversions, reach new audiences and improve your overall ad performance. This new style of google advertising is designed to complement your keyword-based search campaigns and help you convert more customers across all of Google’s channels such as YouTube, maps, discover, search, Gmail and display. Here we explain everything you need to know to ensure your finance brand knows how and when to use it.
What are Performance Max campaigns?
Performance Max is a new goal-based paid advertising campaign, that’s designed to help drive performance based on your specified conversion goals. Google employs automated services to ensure you achieve your campaign targets.
This campaign enables your finance brand to engage consumers across all of Google’s channels. This means you no longer have to make decisions about where your campaign will be housed and your ad can be shown in more places your target audience is.
“ Brands who have used Performance Max campaigns have seen conversions increase by an average of 13%. ”
A great aspect of this new Google ad campaign is that it utilises Google’s machine learning models to make accurate predictions about which ads, audiences and channels will perform best for you automatically. This enables your campaign to reach new audiences helping you to generate meaningful leads. In fact, brands who have used Performance Max campaigns have seen conversions increase by an average of 13%.
Recently, Allianz Spain utilised Performance Max campaigns with the aim of improving the efficiency and profitability of its advertising. Allianz was successful and “increased qualified car insurance leads by 15% at a lower cost-per-lead compared to generic Search campaigns.”
When should finance brands use it?
Google ads and Performance Max campaigns aren’t always the best strategy for every financial content marketing campaign or finance brand. To be truly successful, a paid media advertising campaign should be a part of a broader, multi-faceted content marketing strategy.
You should only use this style of Google campaign if your finance brand:
- Has a specific conversion goal
- Wants to expand reach and conversion beyond keyword-based search campaigns
- Wants to access and advertise across all of Google’s channels
- Wants to implement automated paid advertising that’s designed to expand reach and conversion
Benefits of paid media advertising strategies
Google’s new Performance Max campaigns can be a helpful addition to your overall financial marketing strategy, but only if it aligns with your finance brand’s goals. Additionally, a paid media strategy doesn’t have to live on Google ads either. Creating a paid media strategy across social channels such as LinkedIn and Twitter can also help to expand brand awareness and extend the reach of your content. In fact, paid social advertising can result in a 25% higher conversion rate than organic social.
There are several benefits to including a paid media strategy as part of your overall content marketing:
- Reach beyond your organic following
- Generate new leads
- Build a captured audience
A paid advertising strategy shouldn’t be where your content marketing ends. Instead, it should be a part of a targeted strategy that spans across all social channels and website content.