Yes, you absolutely can segment your Performance Max (PMax) campaigns by product price tiers, like grouping items $100+ in a Target ROAS campaign and under $100 in a Target CPA campaign—but you'll need to use feed filtering and custom labels to make it work.
1. Use Custom Labels in Your Product Feed
Inside your product feed (via Google Merchant Center), set up a Custom Label (e.g., custom_label_0) to define price ranges:
custom_label_0 = high_value for items $100+
custom_label_0 = low_value for items under $100
If you're using Shopify, WooCommerce, or a feed management tool like Feedonomics or DataFeedWatch, you can automate this rule easily.
2. Create Separate Asset Groups or Campaigns
In your Google Ads account, create two PMax campaigns:
Campaign 1: Set to Target ROAS, filtered by custom_label_0 = high_value
Campaign 2: Set to Target CPA, filtered by custom_label_0 = low_value
This gives you better budget control and optimization strategy tailored to how each product tier performs.
3. Adjust Bidding Strategy per Campaign
- Target ROAS works best for higher AOV items with consistent conversion value.
- Target CPA works better for lower-priced items where ROAS fluctuates but conversion cost matters more.
- Use campaign exclusions to prevent product overlap.
- Monitor performance closely—the algorithm needs time to learn.
Don’t forget to check product diagnostics in Merchant Center to ensure all filtered items are approved and eligible.
