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Why is PMax the standard campaign type used by all advertisers nowadays?
From what I've seen on different accounts, most performance marketers just run PMax campaigns for their clients, regardless of the industry/niche. They don't take into account the type of product/service and the intent behind it.
My question is, why is that?
Let's say you have a product/service with high purchase intent, that consumers wouldn't just impulsively buy when stumbling upon an ad. Let's say you have a company with an e-shop that sells tennis rackets.
Now obviously, only people interested in playing tennis would buy a tennis racket, and because they already have the need, they are pros or just started playing tennis and want to become the next Federer; thus it's a high intent product.
Most advertisers I know would run a PMax campaign for tennis rackets, for this tennis racket e-shop.
From my understanding, PMax randomly shows your ads in all placements, including low-intent ones like Display ads on partner sites, gmail ads, youtube, whatever, and you can't control it.
Is my understanding of it wrong? Otherwise why would you then waste money on low-intent placements, when you could run Search/Shopping instead?
You could counter-argue saying that a feed-only PMax can be created; but then I ask, why run that instead of standard shopping, does it have any advantages? Why doesn't Google just phase out Shopping campaigns then, and just create different types of PMax? A PMax for Search, one for Shopping, etc.
I hope you understand my dilemma here; if PMax has both low-intent and high-intent placements and ads, why do advertisers use PMax for high-intent products when money will be wasted? I get it for low-intent, it seems to be befitting that purpose well. But again, most advertisers I've seen run it for everything, thoughtlessly.
The only solution I can think of is that my understanding of PMax is wrong and you can indeed control placements and other variables, and that PMax indeed has advantages over classical campaigns due to AI and machine learning and whatnot. But then, why do classical campaigns exist anymore and aren't phased out?
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