The Performance Max campaign features two major innovations in the way it works. On the one hand, there are the automated ad groups, called asset groups, and on the other hand, there is an innovation in automated targeting, in the form of target group signals.
Instead of the ad groups known from the older campaign types, Google relies on asset groups in the Performance Max campaign. An asset group is composed of different asset types, such as image assets, video assets, and text assets. For example, a text asset can consist of a description, an ad title, or a call-to-action.
Smart bidding enables real-time bid optimization and better results across channels. Automation technologies available from Google are used for bidding, budget optimization, targeting, creatives and attribution, among others.