Performance Max in 2026: what we changed after 18 months of campaign data
Pmax is a black box but it has tells. The five settings adjustments that consistently move ROAS in the accounts we run.
Performance Max gets called “Google’s black box” by media buyers who tried it once in 2023 and gave up. In 2026 it is the dominant ad type Google offers, so we made peace with it. Here are the five settings that consistently move ROAS in the accounts we run.
1. Asset groups by intent, not by product
Group assets by what the buyer is trying to do (compare, urgent need, research), not by SKU. The algorithm models intent better than it models product taxonomies.
2. Branded search excluded explicitly
Pmax will cannibalize your branded search if you let it. Add brand terms to the campaign-level negative keyword list. Lifts non-brand ROAS calculation accuracy.
3. Conversion value reporting, not conversion count
If you optimize for “purchase = 1”, you incentivize cheap purchases. Optimize for the actual revenue or even better, the predicted lifetime value if your CRM tracks it.
4. New customer acquisition target enabled
Set “Acquire new customers” with a value bid. Forces Pmax to spend on net-new vs retargeting your own buyers, which it loves to do.
5. Audience signals as inputs, not constraints
Audience signals (your customer list, lookalikes) shape the algorithm’s starting point but it explores beyond them. Treat them as warm-start, not as a fence.
The result
Applied together, these five reliably move ROAS by double digits within a quarter, the exact spread depends on how clean the account was to begin with.
We run Pmax as part of every Google Ads engagement. Audit your current setup in 30 minutes.
