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by Marketing Guru (9.3k points)

If your product categories have different customer intents, creatives, or margins, then yes, separate PMax campaigns are better.

If they're similar or part of a tight niche, one campaign with multiple asset groups can work just fine.

When to create separate PMax campaigns:

  1. Different product categories or verticals
    (e.g., running shoes vs. yoga mats vs. supplements)
    → Each category may have distinct audiences, creatives, and performance metrics.

  2. You want more control over budgets
    Separate campaigns = separate budgets. If you're spending heavily, this helps avoid starving important categories.

  3. You need cleaner reporting or ROAS optimization per category
    Google doesn't let you set ROAS per asset group — only per campaign. So splitting by campaign lets you optimize per category.

  4. You have different seasonality or promo periods per category

When one campaign with multiple asset groups works:

  1. All products serve the same audience type

  2. You have low spend or limited conversion volume
    (Google needs 50+ conversions/month to optimize well — splitting too much can hurt learning)

  3. Your categories have overlapping keywords and visuals

  4. You're in testing or early-growth phase

Pro Tip: Hybrid strategy works best

  • Start with 1 PMax campaign, use asset groups to separate categories.

  • Once a category shows consistent traction and scale, spin it out into its own campaign for tighter control.

This gives you:

  • Better learning early on
  • Easier management
  • Flexibility to scale what works
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