PMAX shift from maximise conversions
Hello,
For the past 3 years i've been scaling our ecommerce business. this year im heavy on pmax campaigns. cost per conversion are pretty good this year opposed to previous years. So i have 4 pmax campaigns running, for 2 campaigns per country. cost per conversion is 65, 80, 110 and 160 euro. I have everything heavily optimized. advertising cost is around 12% of revenue (previous years was around 18-25%).
Now im pretty happy with performance, but i need to scale up.
Problem is that in the past this market has been very fragile, any changes in campaigns can overnight drop conversion to almost 0. Needless to say i've never encountered a difficult market like this before. These are all one time buyers, they dont come back and half of conversions is a significant sales amount.
Historical roas for each pmax campaign is:
7.0x
2,8x
3,8x
2,9x
Lets take the 7.0x campaign. im wondering if i set a targer ROAS of 500%, what can i expect? Google keeps suggesting a target CPA, but i just dont know what is the right next step.
I run many many ad accounts and i know pmax take a lot of time and optimisation to make it profitable, but this account is so fragile that i need to have a clear picture of what does what and what might be the correct next step.
To be clear about fragile, 2 years ago i had search campaigns only and they ran pretty well, than weekly optimising and excluding garbarge keywords overnight it stopped converting. nothing weird changed, and whatever i did, conversions didnt came back at the same spend. eventually started over in a new account.
Hope someone has a some experience and knows what to do.