Google just rolled out a new setting inside Performance Max campaigns called “Smart Bidding Exploration.” This toggle changes how your ROAS targets behave, and it’s already showing big shifts in how campaigns perform.

It’s not rolled out to everyone yet, but it’s coming fast. And if you’re running PMax or selling anything online, this is the update you need to be ready for.

What’s New: Smart Bidding Exploration in PMax

Google is now giving advertisers the option to loosen their own ROAS targets inside Performance Max. This setting lets Google “relax” your ROAS boundaries in pursuit of more conversions.

This feature was previously available within for text campaigns running Broad Match keywords on the Target ROAS bid strategy earlier this year. Now it seems they’re bringing it over to PMAX with the introduction of negative keywords for the campaign type. 

The goal? Unlock additional traffic and sales that tighter bidding may have been ignoring. But as always, there’s a tradeoff: more scale might come at the cost of efficiency.

Here’s what we know so far:

• It’s a toggle inside your campaign settings labeled “Smart Bidding Exploration”
  
• Turning it on tells Google to pursue more volume, even if it means dipping below your target ROAS
  
• Google reports a +19% increase in total conversions and +18% more unique converting queries for early testers
  
• You may see higher spend, more impressions, and better coverage, but possibly at a lower return on ad spend

If you’re running PMax already, you’ll likely see this show up soon, if it hasn’t already.

Why This Matters for You or Your Clients

This is a big shift in how Performance Max behaves. Instead of strictly protecting your return, Google wants to help you grow volume, and it’s willing to break some efficiency rules to do it.

For clients stuck with flat results or capped reach, this toggle could be a way to tap into new opportunity. Especially if you’ve been pushing aggressive ROAS goals and wondering why your campaigns stopped scaling.

But this is also a risk if your margins are tight. Because PMax can shift budget quickly, loosening ROAS can burn through spend faster than you expect.

This also changes how you monitor success. You can’t just look at ROAS anymore — you have to track total conversions, average order value, and incremental revenue. You need to know what you’re gaining, not just what you’re spending.

And if you’re not already measuring success beyond platform numbers? This is your signal to start.

What You Should Do Next

This toggle could be a fundamental strategy shift if used in the right way. Here’s how to approach it:

• Test With Intentional Campaigns: Start by enabling it only in lower-risk campaigns. Avoid flipping it on across all PMax efforts at once.
  
• Watch Efficiency Closely: Monitor ROAS, CPA, and budget pacing daily. Don’t let Google run away with your spend without oversight.
  
• Use Budget Caps Wisely: Keep hard budget limits on new test campaigns to avoid surprises.
  
• Track Total Business Impact: Compare total conversions and revenue to see if the growth is actually incremental.
  
• Don’t Set It and Forget It: This feature requires close observation. Check your numbers, and adjust quickly if results tank.

Need Help Deciding If This Is Right for You?

Smart Bidding Exploration is promising, but it’s not for everyone. If you’re not sure how to use it,  or if it fits your goals, book a call with our team. We’ll show you exactly how to roll this out safely, test it properly, and turn the insights into real performance.