Performance Max runs one campaign across Search, Shopping, YouTube, Display, Discover, Gmail and Maps, and lets Google decide where each dollar goes. When conversion tracking is clean and the assets and feed are strong, it often finds conversions a Search-only account would miss. When it is left on autopilot, it can drift toward cheap inventory and brand searches you would have won anyway. The good news for 2026 is that advertisers have more levers than they did at launch. This guide covers each one and a weekly routine for using them.
Quick answer: Control Performance Max with five levers: campaign-level negative keywords for wrong-intent searches, brand exclusions to keep brand traffic in your brand Search campaign, URL controls so clicks land on pages that convert, well-themed asset groups with strong assets, and the channel performance report to see where spend goes. Review search term insights, channels and placements weekly, and judge results on conversions you trust, not on reported volume.
What Performance Max Does Well, and Where It Hides Spend
Performance Max is strongest for e-commerce with a good product feed and for lead generation with reliable, value-based conversion tracking. It combines signals across channels that no person could weigh by hand. Its weak spots are predictable: it can claim credit for brand searches that would have converted anyway, push spend into Display or video placements of uneven quality, and optimize toward easy conversions if your goals are not set up carefully.
The Control Levers You Have in 2026
| Lever | What it does | When to use it |
|---|---|---|
| Campaign-level negative keywords | Blocks wrong-intent searches from the campaign | Always, starting with your shared themes (jobs, free, DIY) |
| Account-level negative keywords | Blocks searches across eligible campaigns | Brand-safety terms you never want to appear for |
| Brand exclusions | Keeps the campaign off your own (or listed) brand searches | When a separate brand Search campaign handles brand traffic |
| Final URL expansion and URL exclusions | Controls which pages clicks can land on | Always exclude careers, blog, support and login pages |
| Audience signals | Suggests a starting audience; not a hard target | Use customer lists and site visitors to speed up learning |
| Customer acquisition goal | Bids for new customers only, or bids higher for them | When new-customer growth matters more than repeat sales |
| Conversion goals at campaign level | Chooses which conversions this campaign optimizes toward | Always; avoid micro-conversions as goals |
| Placement exclusions | Keeps ads off sites and apps you do not want | When the placement report shows waste |
Asset Groups That Give the Algorithm Something to Work With
An asset group is a set of headlines, descriptions, images, logos and videos built around one theme, plus audience signals and, for retailers, a set of products. The most common mistake is one asset group for everything. Split asset groups by what changes the message: product category, audience need or price point. Give each one the full range of assets, including vertical and square images and at least one video you made yourself, because Google will otherwise generate a basic video from your images.
- One theme per asset group, matching a landing page about that theme.
- Headlines that cover different angles: benefit, proof, offer, urgency, brand.
- Images in landscape, square and portrait formats; real product and people shots beat generic stock.
- At least one human-made video per asset group.
- Audience signals from your own data: customer lists, site visitors, converters.
Reading the Channel Performance Report
The channel performance report shows how impressions, clicks, conversions and spend split across Search, YouTube, Display, Discover, Gmail and Maps. Use it to ask questions, not to micromanage: Performance Max does not let you set budgets per channel. If most spend goes to Display with weak conversion quality, the fix is upstream: better conversion goals, stronger product feed data, placement exclusions, or moving budget to a Search campaign that gives you more control.
| Pattern | Likely cause | What to try |
|---|---|---|
| Most conversions from Search, most spend from Display | Display is buying cheap, low-quality traffic | Check placements; tighten conversion goals |
| High share of brand searches | Performance Max is taking brand traffic | Add brand exclusions and keep a brand Search campaign |
| Video spend with no video assets you made | Google is running auto-generated video | Upload your own videos |
| Conversions rising but sales flat | Optimizing toward a micro-conversion | Set purchase or qualified lead as the campaign goal |
Performance Max and Search: Which Campaign Gets the Search?
When a search is identical to a keyword in an eligible Search campaign, the Search campaign is prioritized. Otherwise, Search and Performance Max compete on Ad Rank. In practice: keep exact and phrase keywords for your most important queries in Search, where you control ads and landing pages, and let Performance Max find the rest.
A Weekly Performance Max Routine
- Check that conversions are still firing and that the campaign goal is the one that makes money.
- Review search term insights and add campaign negatives for wrong-intent themes.
- Open the channel performance report and note any big shifts.
- Check the placement report for sites and apps worth excluding.
- Look at asset performance; replace the weakest images and headlines with new angles.
- Compare cost per conversion and conversion value with the previous four weeks before changing targets.
How Loraloop Works With Performance Max
Search is where Loraloop's daily automation goes deepest, and Performance Max is where it gives you visibility and drafts. Angie reads Performance Max results, including the breakdown by channel and placement, and proposes website placement exclusions where placements spend without converting. When you ask, it drafts a Performance Max campaign with an asset group, or adds an asset group or audience signals to an existing one. Everything is created paused and waits for your approval, and Performance Max builds need an account that already records conversions. You keep the product feed and the final creative decisions.
Frequently Asked Questions
Can you add negative keywords to Performance Max?
Yes. Performance Max supports campaign-level negative keywords, and account-level negatives apply to it as well. Brand exclusions are a separate setting for keeping brand searches out.
Should I run Performance Max and Search together?
For most accounts, yes. Keep Search for your most important keywords and your brand, where you control the ad and landing page, and use Performance Max to find additional conversions across channels.
How many asset groups should a Performance Max campaign have?
One per distinct theme, such as a product category or customer need, each with its own landing page. A handful of well-built asset groups usually beats one catch-all group or dozens of thin ones.
Why is Performance Max spending on Display?
Because Google predicts conversions there at your target. If those conversions are low quality, tighten your conversion goals, exclude poor placements and make sure the product feed and assets are strong.
How long does Performance Max need to learn?
Plan for several weeks before judging, longer for low conversion volumes. Avoid large target or budget changes during that time, and make changes in small steps.
See where your Performance Max money goes and get placement exclusions drafted for you: connect Google Ads to Loraloop.
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