How We Reduced Cost-Per-Conversion by 17.5%

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It’s been a great few months working with this client. Since kicking things off, we’ve helped cut their Cost-Per-Conversion by 17.5% and dropped their Cost-Per-Click by nearly 50%.

While Performance Max (PMAX) campaigns often get a bad rap for bringing in low-quality leads, the truth is: if you set them up the right way, they can drive killer results.

Here’s why most people struggle with PMAX—and what we did differently.

Why PMAX Campaigns Can Go Wrong

1. Launching PMAX too early or without enough data
If your account is brand new or has limited conversion history, don’t touch PMAX yet. You’re basically handing Google a blank canvas and hoping it paints a masterpiece - it won’t. PMAX thrives on strong, historical conversion data. In our case, the account already had a healthy data set, which made the campaign much more effective from the jump.

2. Ignoring exclusions for placements and audiences
PMAX may look like a “black box,” but there are levers you can pull, if you know where to look. Exclude irrelevant placements like parked domains, mobile apps, and certain YouTube channels. Also, be intentional about audience exclusions. Job seekers and competitors often eat up budget without converting.

3. Skipping negative keywords
Contrary to what many believe, you can use negative keywords in PMAX campaigns. Doing so helps prevent your ads from showing for irrelevant or low-intent searches, which directly impacts lead quality.

Blending PMAX with Standard Search for Better Control

One of the keys to our success has been running PMAX alongside tightly controlled Search campaigns. PMAX is great for scale, but standard Search gives us precision.

• We use Search to target high-intent keywords directly, with more control over ad copy and landing pages.
• PMAX supports the broader funnel: reaching new users, retargeting, and filling gaps that Search alone can’t cover.

This hybrid approach allows us to maximize volume and maintain quality. When done right, the two work in harmony rather than competing for budget.

“Encipher is a pleasure to work with and they get results. Since hiring them, they've doubled my lead volume - and the leads are high quality and responsive. They go above and beyond to help create ad copy, communicate with other vendors and are always receptive and helpful with new ideas. If you want real results with your Google and/or Meta ad spends, this is your team!”

- Celine Lacroix, Brattleboro Storage

Want to see if this kind of setup could work for your business? Let’s talk.

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