How to Optimise Asset Groups in PMAX for Maximum Control and Conversions

Diving into Performance Max (PMAX) feels a bit like stepping onto a fast-moving train: plenty of ambition, some unspoken rules, and more than a hint of chaos if you don’t have your wits about you. Over the last year, I’ve worked through my fair share of fragmented account builds and misfiring asset group setups. Sometimes the results have been captivating, other times downright confusing. If you’ve been asking yourself how to claw back control, unlock better conversion rates, and keep your creative messaging in tune across Google’s scope, then this guide is for you.

Understanding the Role of Asset Groups in PMAX

Asset groups serve as the main creative and strategic toolkit inside every PMAX campaign. Think of them as the glue binding your targeting, creative, and messaging into a tidy package that the Google algorithm can run wild with. Each asset group contains a blend of visuals, copy, audience signals, and product feeds (for e-commerce), pushing your brand across Search, Display, YouTube, Discover, and Gmail.

In my early days with PMAX, I made the rookie error of lumping all products and creatives into a single asset group. The result? Blurry data and the sense that Google, not me, was steering the ship. Testing over dozens of accounts taught me this: the tighter and more considered your asset group structure, the more you can shape outcomes and keep messaging sharp.

Structuring Asset Groups: Product Category, Audience Intent, or Funnel Stage?

There’s no one-size-fits-all blueprint, but I’ve seen consistent wins from three main structuring approaches, each driven by a strategic question: What do I care most about controlling. Product themes, audience mindsets, or buyer funnel position?

1. By Product Category

Straightforward for e-commerce and retail. Here you split asset groups by logical campaign sub-sets:

• Product types (e.g., shoes, shirts, accessories)
• Brands or seasonal lines
• High-margin vs. low-margin stock

This approach spotlights your ability to tailor creative, offers, and even audience signals to each collection. It helps avoid the pitfall where, say, sports shoes and office loafers compete for the same ad space. Pairing product feeds with bespoke creative has delivered a strong uptick in relevant Search placements and shopping-focused conversions for several apparel brands I’ve worked with.

2. By Audience Intent

For businesses with more complex buyer journeys (think B2B services or big-ticket consumer items), grouping by audience intent can produce sharper focus. Here you distinguish groups such as:

• In-market vs. affinity
• Recent site visitors vs. cold prospects
• Previous buyers vs. lookalike audiences

One financial services client saw engagement rise by over 30% after we split high-intent, warm audiences from broader, colder ones. Creative could reflect exactly where a user was in their consideration cycle, cutting wastage and making retargeting efforts hum.

3. By Funnel Stage

Some brands, especially those running full-funnel marketing or with high-value purchases, prefer to split asset groups by stage:

• Awareness (broad/dynamic creative)
• Consideration (educational content, storytelling)
• Conversion (offers, urgency, testimonials)

This structure lets you nail the narrative, so users see the right style of creative at just the right stage. Especially useful when budgets are tight and you need every pound to count.

Best Practices for Linking Audience Signals to Asset Groups

Globally, PMAX’s automation can feel like handing your keys to a stranger. Audience signals let you grip the wheel more firmly.

• Be Specific: Tie each asset group to a clear set of audience signals that match your structure. If you’re splitting by intent, use audience lists (site visitors, custom intent, lookalikes) that genuinely differentiate the group.
• Leverage First-Party Data: Upload your best customer lists. This goes a long way, as the machine will prioritize users that look like your top converters.
• Stay Consistent: Avoid duplicating the same audience signals across multiple groups. The overlap waters down learnings and can scramble your reporting.

From hands-on testing, I’ve learned to refresh audience signals at least quarterly. Tastes shift, seasonality bites. What worked for Valentine’s Day rarely cuts it for Black Friday.

Managing Creatives and Messaging: Keep Overlap to a Minimum

One universal truth: creative fatigue is real, and it quietly strangles performance when you least expect it. To keep your asset groups humming:

• Differentiation is Key: Vary headlines, descriptions, and visuals between groups to ensure each asset has a job to do.
• Keep Messaging Relevant: Every product group should have creative tailored to its offer and audience. No more of that bland, catch-all promo copy.
• Monitor Asset “Best” and “Low” Labels: Google will flag what’s working and what isn’t. Cut out under-performers quickly, and swap in fresh assets. I’ve seen campaigns jump 20% in CTR overnight just by rotating in a few winning creative combos.

Analysing Asset Group Performance with the Latest Tools

Not all analysis tools are created equal, so let’s get specific about what’s working in the PMAX ecosystem right now. Over the past six months, Google’s campaign-level ‘Asset Group’ and ‘Asset’ reports have gotten meaningfully richer. Now you can segment stats not just by top-level campaign, but at a granular asset group layer:

• Asset Performance Ratings: Gives you ‘Best’, ‘Good’, or ‘Low’ labels for assets in each group. Use this as your north star for creative testing. When you see “Low” labels pile up, swap those assets before the group drags down the entire campaign.
• Insights Tab: This breaks down top-performing search categories, audience segments, and placements, letting you course-correct in real time. If one group is pulling conversions at double the cost of another, you spot it early and budget accordingly.
• Search Term Insights for PMAX: A recent addition, this tool offers visibility into actual queries driving results. Essential for refining both your asset group strategy and audience signals.

I make a monthly habit of sitting down with these reports, spreadsheet at the ready, slicing performance by conversion, ROAS, CTR, and CPA. Hard facts guide every change.

Bringing It All Together

There’s no denying it: PMAX can feel unruly. But setting up and optimizing asset groups with intention isn’t just busywork. It’s the secret sauce behind regaining control in an automated world. By combining intentional structuring, savvy audience signal use, and crisp creative management, you steer PMAX campaigns toward outcomes that matter to your bottom line.

Ready to take charge and see your conversions climb? Give your asset groups the attention (and creativity) they deserve. Check in regularly, swap in new ideas, and trust the process. Questions, roadblocks, or unexpected wins? Share your stories or reach out for a second opinion. The only bad asset group is the one you never learn from.

Frequently Asked Questions

How many asset groups should I include in a single PMAX campaign?

While there’s no universal magic number, I recommend starting with three to five asset groups, each with a distinct product category, audience segment, or funnel stage. This approach offers enough variety for meaningful data without overwhelming your reporting.

Is it better to use Google’s suggested audience signals or custom segments?

Custom audience segments, drawn from your own customer lists, site visitors, or purchase histories, tend to produce more tailored results. Google’s suggestions can still help for broader reach or when first-party data is limited, but whenever possible, lean on signals that reflect your actual buyers.

How often should I change creatives within asset groups?

Aim to refresh your creative assets every four to eight weeks, or sooner if you notice declining performance in the Asset Performance ratings. Continuously monitor for ‘Low’ labels and rotate assets to keep performance sharp and prevent user fatigue.

What do I do if asset groups overlap in targeting or messaging?

Review your audience signal definitions and creative strategy for each group. Remove unnecessary duplications and keep each group’s purpose clear. Overlap isn’t always bad, but too much can lead to fuzzy learnings and reduced control over where your ads serve.

Can I use Performance Max asset groups for brand awareness, not just conversions?

Absolutely. Asset groups can be structured for broad awareness by using upper-funnel audience signals and fitting creative. Just remember to review performance metrics that align with awareness goals (like impression share and video views), not only conversions.