Performance Max: what is it and does it work?

Summary: Performance Max in short

Performance Max (PMax) is a Google Ads campaign type that uses AI to advertise on all Google channels at once: Search, Shopping, YouTube, Display, Discover, Gmail and Maps. It works well when you have enough conversions and your measurement is right, and badly when Google steers on the wrong data. Google reports 18% more conversions on average, but independent 2026 data shows PMax ROAS went down. At Game-changers Google advertising starts from €500 per month excl. VAT, with tracking included as standard and no set-up fee. Request a free analysis.

• What: One campaign for all Google channels, driven by AI.
• Does it work?: Yes, with enough conversions, strong input and good measurement. Without those you waste budget.
• Pitfall: In 91% of 503 accounts studied, PMax showed ads on keywords from the advertiser’s own Search campaign.
• Our advice: Fix your measurement first, set limits and check the channel report every week.

What is Performance Max?

According to Google Ads Help, Performance Max is a campaign type that gives you access to all of Google’s ad inventory from a single campaign. You set a goal, such as sales or leads, and supply building blocks: headlines, images, videos and, for an online shop, your product feed. Google combines these into ads and decides where, when and for whom they appear. According to Ahrefs, Dutch people search 500 times a month for “performance max” and 200 times for “wat is performance max” (what is Performance Max). PMax has existed since 2021; in 2022 Google upgraded the old Smart Shopping campaigns to Performance Max. A PMax campaign consists of:

• Goal and bid strategy: for example maximise conversion value, optionally with a target ROAS or target CPA.
• Asset groups: groups of copy, images, videos and a landing page, often per product group or service.
• Audience signals: hints for Google, such as your customer list or website visitors. Google may look beyond them.
• Product feed: for online shops, from Google Merchant Center. This puts your products in Shopping too.

Does Performance Max work? What the numbers say

Google itself is positive. Its page Benefits of Performance Max says advertisers who use PMax well see on average 18% more conversions at a similar cost per action. Independent numbers are more critical. In the Optmyzr benchmark report for Q1 2026, covering over 21,000 accounts, PMax grew fastest in volume (+15.7%), but its ROAS fell 4.53% compared with a year earlier. Search ROAS rose 2.47% over the same period. And in an Optmyzr study of 503 accounts, PMax showed ads on keywords that were already in the advertiser’s own Search campaign in 91% of accounts.

Our conclusion: PMax can work, but not on autopilot. Most of the result comes from things you control yourself: what you measure, what input you provide and where you set limits.

What does Performance Max cost?

Performance Max has no fixed price. You set a daily budget and pay Google for clicks and impressions; PMax itself costs nothing extra. As an indication: an e-commerce click cost a median €0.56 in September 2026, according to Adtribute. If you have PMax managed for you, a management fee comes on top. Read more about budgets and click prices in what Google Ads costs.

Our research: what Google shows for “Performance Max”

On 9 November 2026 we looked at the Dutch search results with DataForSEO. At the top there is an AI answer from Google, then images, “People also ask” and 8 regular results. What stands out:

• 7 out of 8: are agency blogs or knowledge base pages, 1 is a trade magazine article.
• 0 out of 8: were published in 2026. Two date from 2022, when PMax had just launched.
• No 2026 figures: in the top 8. The AI answer explains what PMax is, but not whether it works.
• People also ask: is about what PMax means, what a campaign looks like and what Google Ads costs per month.

How to make Performance Max work in 4 steps

1. Measurement first

PMax steers on whatever you measure as a conversion. So measure real purchases or qualified leads, with value, not just clicks or page views. We set this up with data and tracking; our tracking and GA4 checklist shows what it takes.

2. Strong input

Provide strong copy, images and at least one video per asset group. If you do not, Google builds a video from your images. For online shops the product feed is the most important part.

3. Set limits

Exclude your own brand name if Search already captures it, exclude pages that should not get traffic and add search themes. This keeps control without locking the AI down.

4. Check channels

Review the channel report and search terms every week. If most budget goes to Display or your own brand name, we adjust.

Performance Max, Search or Shopping?

In practice we often combine: Search for your main keywords and brand name, and PMax to grow on top of that. For online shops PMax can run next to standard Shopping, for example with PMax for bestsellers. Read more about online shops in e-commerce.

What it delivers

Three examples from our own Google advertising work. Deurklinkshop gets the same order value with 4 times less ad spend, and 131% more profit. CrossFit Climbers Cabin went from €55 to €9 per lead and was fully booked within 4 months. Rug Expertise Shop went from under 2% to up to 8% conversion after a redesign, with 76% more profit; a better site makes every click from PMax worth more.

“Performance Max is only as smart as the data you feed it. If you only measure clicks or form fills without value, Google optimises for exactly that. We first make sure real sales and good leads come through correctly. Only then do we give PMax room, and we check every week where the budget really goes.”

Annefleur van Osta

Online marketing strategist at Game-changers

Do it yourself or have it managed?

Setting up a PMax campaign takes an afternoon. Making it work is the real job: measurement, feed, exclusions and checking every week where the money goes. At Game-changers Google advertising starts from €500 per month excl. VAT, for which we work at least 4 hours a month on your campaigns. You pay the ad budget directly to Google. There is no set-up fee. Request a free analysis. Combine PMax with conversion rate optimisation and it becomes cheaper, and every click delivers more. Also check your landing pages with our landing page checklist.

Frequently asked questions about Performance Max

What is Performance Max?

Performance Max is a Google Ads campaign type that uses AI to advertise on all Google channels at once. You set a goal and building blocks, and Google decides where and for whom your ads appear.

What does PMax mean?

PMax is short for Performance Max. It is the same Google Ads campaign type.

What is a Performance Max campaign?

A Performance Max campaign is one campaign that advertises on Search, Shopping, YouTube, Display, Discover, Gmail and Maps. Google automatically combines your copy, images, videos and product feed into ads.

How does Performance Max work?

You choose a conversion goal and provide copy, images, videos and optionally a product feed. Google tests combinations, picks the channel and bid per auction, and sends budget to where the chance of a conversion is highest.

What does a PMax campaign look like?

A PMax campaign has a budget, a bid strategy and one or more asset groups. Each asset group contains copy, images, videos, a landing page and audience signals, plus products from the feed for online shops.

What is an asset group?

An asset group is a set of building blocks within a PMax campaign: headlines, descriptions, images, videos and a landing page. Ideally create one asset group per product group or service.

What does Performance Max cost?

Performance Max itself costs nothing extra; you pay your ad budget to Google. An e-commerce click cost a median €0.56 in September 2026. Management by Game-changers starts from €500 per month excl. VAT.

Does Performance Max really work?

Yes, if you have enough conversions and your measurement is right. Google reports 18% more conversions on average, but independent data from Q1 2026 shows ROAS falling 4.53%.

How many conversions does Performance Max need?

The more the better. Many specialists use around 30 conversions per month per campaign as a minimum; with far fewer the AI has too little to learn from.

Is Performance Max suitable for lead generation?

Yes, but only if you measure good leads rather than every form. Otherwise Google learns to bring in lots of cheap, poor leads. So ideally connect your CRM and steer on qualified leads.

Is Performance Max suitable for a small budget?

Sometimes. With a small budget and few conversions a standard Search campaign often works better, because you have more control. Once you have enough conversions, PMax can be added.

What is the difference between Performance Max and Shopping?

Shopping only shows product ads and gives you a lot of control. Performance Max uses the same feed, but also advertises on YouTube, Display, Gmail and other channels, with less control.

Does Performance Max cannibalise your Search campaigns?

It can. Optmyzr found overlap in 91% of 503 accounts: PMax showed ads on keywords from the advertiser’s own Search campaign. Brand exclusions and a good structure limit this.

Can you exclude keywords in Performance Max?

Yes. You can exclude your brand name, add negative keywords and exclude URLs. With search themes you also tell Google which topics you want to appear for.

How long is the Performance Max learning phase?

Expect 4 to 6 weeks before you can judge results properly. Avoid frequent big changes during that time, because each big change partly resets the learning.

Do I need to provide videos for Performance Max?

It is strongly recommended. If you do not provide a video, Google creates one from your images, and that is usually weaker than your own video.

What does it cost to have Performance Max managed?

At Game-changers from €500 per month excl. VAT, with at least 4 hours of work per month and tracking included. There is no set-up fee. Request a free analysis.

How do you measure Performance Max results?

Look at profit, ROAS or cost per good lead, not at clicks. Use the channel report to see where the budget goes, and check how many conversions come from your own brand name.

Sources

Google Ads Help, About Performance Max campaigns

viewed 9 November 2026

Google Ads, The key benefits of Performance Max campaigns

updated 28 October 2026

Optmyzr, Google Ads benchmark report Q1 2026

May 2026

Optmyzr, Is Performance Max cannibalizing your Search campaigns?

July 2025, updated March 2026

Adtribute, Google Ads cost per click benchmark e-commerce

September 2026

DataForSEO SERP API, own measurement Google Netherlands

9 November 2026

Ahrefs Keywords Explorer, Dutch search volume

9 November 2026