Google continues to expand Performance Max campaigns while reducing manual controls. Here's our honest assessment of when PMax works, when it doesn't, and how to manage it effectively.
Performance Max has become one of the most talked-about — and most divisive — campaign types in Google Ads. Since its full rollout in 2022, Google has steadily reduced advertiser control while expanding the reach and scope of what PMax can do. In 2025, the landscape has shifted again.
What's new in 2025
The most significant change is the introduction of asset group-level performance reporting. Advertisers can now see which combinations of headlines, descriptions, and creative assets are generating the most conversions — a long-requested feature that finally gives some visibility into the black box.
Google has also introduced "campaign-level negative keywords" for Performance Max, something advertisers have been requesting for years. This doesn't give you the granular control of traditional Search campaigns, but it does prevent the most obvious brand and competitor bleed.
When PMax works
In our experience across 100+ PMax campaigns, the campaign type genuinely performs well when you have strong first-party data to feed the algorithm, high creative volume (multiple headlines, images, videos), clear conversion actions that are correctly valued, and a product or service with broad appeal.
When to avoid it
PMax tends to underperform for niche B2B products, services with very long sales cycles, and businesses with limited creative assets. It also cannibalises branded search traffic in ways that inflate apparent ROAS without adding real value.
Our recommendation: run PMax alongside — not instead of — standard Shopping and Search campaigns. Use campaign-level negatives aggressively, review the search terms insight report weekly, and don't let the algorithm run unchecked for more than two weeks without reviewing performance by asset group.
