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Google Ads Performance Max: What Actually Moves ROAS

After managing $12M+ in Performance Max spend across 40 accounts, here are the seven levers that matter.

Rohan Kapoor Jul 8, 2026 7 min read
Google Ads Performance Max: What Actually Moves ROAS

Performance Max, decoded

PMax is a black box — but it's not random. After managing $12M in spend across 40+ accounts, we've isolated the seven levers that consistently move ROAS.

  1. Asset group signals (audience seeds)
  2. Search themes for intent shaping
  3. Conversion value rules
  4. Enhanced conversions with LTV feedback
  5. Product feed hygiene (for shopping)
  6. Negative keywords at account level
  7. Creative refresh cadence

Skip these and you'll burn budget on brand cannibalization.

#Google Ads#PMax#ROAS
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