Performance Max

You supply goals, assets grouped into asset groups, optional audience signals and search themes. Google decides where to show which ad and how much to bid. The trade-off: reach with little setup, in exchange for less visibility and control than campaigns you build channel by channel.

Where you'll see it

In Google Ads, PMax campaigns appear in the Campaigns list with the type "Performance Max". Inside you'll find Asset groups, the Channel performance report (spend and results by channel), Insights, and a search terms report under Insights and reports > Search terms. Campaign-level negative keywords and brand exclusions are in the campaign settings. Meta's closest equivalent is Advantage+ sales campaigns; on TikTok it is Smart+.

Worked example$6,000 a month, 120 conversions, a $50 CPA

Channel	Spend	Conversions	CPA
Search and Shopping	$4,200	105	$40
YouTube and Display	$1,800	15	$120

The blended $50 hides a channel that costs three times as much per conversion. Before reacting, check whether those 15 conversions are real purchases or softer actions.