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How to Use Performance Max Campaigns For Real Estate in 2023
As Real Estate Agents, we always have to be alert to new and effective ways to reach potential clients. One of the most exciting new options in online advertising is Google's recently released "Performance Max Campaign." But what's all the hype really about? In this blog post, we'll explore what exactly a Performance Max Campaign is, the benefits, and how to build one specifically for generating real estate leads.
What is a Performance Max Campaign in Google Ads?
A Performance Max Campaign is a new, goal-based campaign type that allows performance advertisers to access all of their Google Ads inventory from a single campaign. This means that your ads will be shown across the search, display, video (YouTube), discovery, and Gmail networks. This new campaign type is a mix of search, display, and discovery campaigns all in one.
Prerequisites for Running a Performance Max Campaign
Before you build a Performance Max Campaign, there are some prerequisites you need to meet. Firstly, you need to have had a Search Campaign & Retargeting campaign running for 6+ months before you build one of these. This is important as you need some previous data on what audience signals work well before you launch one of these. Launching a P-Max campaign with no data/audience signals will negatively impact your results.
Secondly, you need to be willing to spend a bit more on one of these campaigns as a minimum than other campaigns ($30/day+). This campaign is harder to optimize (less variables to tweak) once it’s running so it’s pretty algorithm based, therefore at a lower budget, you are limiting Google heavily on its learning as it’s optimizing for maximized conversions here.
It's also important to note that these campaigns can take time before they start to work. Give one of these a minimum of 4 weeks to run before making any assumptions.
Building Your Performance Max Campaign
To build a Performance Max Campaign for your real estate business, follow these steps:
Create 1 Campaign, with 1 Asset Group per location that you are targeting. There are no ad groups in these campaigns, instead, these are called Asset Groups, which will contain audiences, photos, headlines, descriptions, etc. all in one place.
For each location you are targeting, grab 5-6 nice photos from your website. Having quality visuals of the property and the surrounding areas will increase the chances of attracting potential clients.
Have your logo on hand. Adding your logo to your ad assets will increase your brand recognition and help your ads stand out from the competition.
For each location you are currently running in your search campaign, filter out the keywords that have performed well in the past 6 months. Use these keywords to create a custom intent audience, one for each location.
Have your retargeting audience on hand. Retargeting audiences will help you reach potential clients who have already shown interest in your properties.
Benefits of Using Performance Max Campaigns for Real Estate
There are several notable benefits to using Performance Max Campaigns for your real estate business:
- You will have access to all of your Google Ads inventory from a single campaign. This means that your ads will be shown across multiple networks, increasing your reach and visibility to potential clients.
- Performance Max Campaigns are designed to optimize for conversions, which means that Google's algorithm will work to maximize the number of conversions for your business. This will increase the chances of attracting potential clients who are interested in your properties.
- Performance Max Campaigns are easy to set up and manage. With Asset Groups containing all your ad assets, it's simple to make changes to your campaign and monitor its performance.
Want to See These Ads Built Step By Step?
Want to see the entire process in action? Check out the full video for a step-by-step tutorial: