How Google Ads Performance Max Campaigns Cannibalize Your Search Spend

Lucas and Luna dig into a problem many PPC managers are facing in mid-2026: Performance Max campaigns that silently steal traffic and budget from your well-optimized search campaigns. Using a detailed case study of a mid-market e-commerce brand that saw a 22% drop in search conversion rates after launching PMax, they explain how Google's algorithm prioritizes its own 'portfolio' over your existing campaigns. Topics include asset group structure, audience signals vs. audience exclusions, and the critical fix — setting up campaign-level negative keywords and seasonality adjustments. Perfect for anyone running Google Ads who suspects PMax is stepping on their search toes. #GoogleAds #PerformanceMax #PPCStrategy #PaidSearch #Marketing #DigitalAdvertising #CampaignOptimization #SearchAds #Ecommerce #AdSpend #ROAS #ConversionRate #NegativeKeywords #AudienceSignals #BiddingStrategy #GoogleAdsTips #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo