Microsoft’s Performance Max has entered open beta, providing select marketers with full access to its inventory and the ability to serve ads across its network.
This update is significant for marketers as it introduces new features designed to streamline their workloads, allowing more time to focus on creative aspects and reach untapped audiences. Additionally, working directly with Microsoft on Performance Max campaigns grants advertisers greater transparency and detailed asset-level reporting.
To get started with Microsoft Performance Max, follow these five essential steps:
Set up Microsoft conversion tracking:
Ensure conversion tracking is set up with Microsoft, either through UET or offline conversion goals. It is a requirement, even if you’re using Performance Max with Google Import.
Set budget and bid strategy:
Utilize “maximize conversions” within optional target return on ad spend (ROAS) or target cost per acquisition (CPA) goals to optimize and maximize conversion values.
Enable final URL expansion:
Microsoft recommends turning on this setting to drive consumers to the most relevant landing pages and allow the platform to create additional assets based on effective landing page elements.
Add assets:
Include relevant text and images, and set up your brand’s store using Microsoft Merchant Center if applicable.
Leverage audience signals:
Utilize audience signals for predictive targeting, which will help you effectively reach your target audience on the platform.
According to Lauren Tallody, Sr. Product Marketing Manager and Automation Lead for Microsoft, while Google launched their Performance Max product in 2021, Microsoft took their time to assess the demand among advertisers for a similar offering on their platform.
They aimed to comprehend the specific needs of advertisers, identify areas of differentiation, and determine where to focus their efforts. Lauren emphasizes that this process is an ongoing journey for Microsoft.
Microsoft has been diligently working on the development of its Performance Max program since the autumn of the previous year, and the efforts have already yielded positive outcomes:
September 2022:
Import Google PMAX campaigns using Merchant Center – In response to the growing adoption of Google PMAX products by advertisers, Microsoft sought to capture the demand by importing Google Max campaigns as either smart shopping or local inventory ads.
October 2022:
Import Google PMAX campaigns not using Merchant Center – Microsoft slightly adjusted its approach by importing Google Max campaigns as DSA campaigns.
May 2023:
Closed beta launch of Microsoft’s Performance Max – The closed beta launch proved to be highly successful for Microsoft, prompting them to further enhance the product and continue importing those campaigns.
July 2023:
Open beta launch – A few weeks ago, Microsoft’s Performance Max officially entered open beta.
Moving forward, Microsoft is focused on taking its Performance Max product to general availability and enhancing it with additional features. Some of the upcoming improvements include:
1. API support.
2. Microsoft Advertising Editor support.
3. Expanded reporting capabilities, such as search term and domain reports.
4. A smart shopping campaign upgrade tool.
Would you like to read more about Microsoft’s Performance Max-related articles? If so, we invite you to take a look at our other tech topics before you leave!
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