Google PMax vs Search vs Display for B2B SaaS: Costs, Performance & When to Use Each

We've been managing Google Ads for B2B SaaS companies long enough to know that "Which campaign type should we use?" is rarely a simple question.

Performance Max promises automation and reach. Search campaigns deliver intent and control. Display offers visibility and retargeting. They all work - just not for the same things, and definitely not at the same cost.

At Aimers, we've run the full spectrum across our portfolio. The difference usually comes down to knowing what you're buying and when to use it.

So if you're trying to figure out the differences between Search Ads and Performance Max Ads, or wondering about PMax vs Display for your funnel, this is the breakdown you need. Real costs, actual performance data, and straight talk about when each campaign type

What Are You Actually Choosing Between?

Before we compare Performance Max vs Search campaign setups or dive into costs, let's get clear on what these campaign types actually do.

Quick Decision Framework: Which Campaign Type Do You Actually Need?

Google Performance Max (Or: What Happens When You Let the Algorithm Drive)

Performance Max is Google's AI-driven campaign type that runs across their entire ecosystem: Search, Display, YouTube, Gmail, Discover, and Maps. You feed it assets, set conversion goals, and Google's machine learning decides where, when, and how your ads appear.

The pitch sounds great. Maximum reach, minimum effort. And when it works? It genuinely delivers reach you couldn't manually replicate.

But you're trading control for convenience. Google picks everything. You can't manually exclude placements or pause underperforming inventory. The black box nature makes it tough to explain to your CFO why you spent $15K when all you can say is "the algorithm decided."

We've had clients come to us after running PMax for months with no real understanding of where their budget was going. For setup guidance, check our guide on how to optimize performance max campaigns.

Search Ads Are the Old Reliable

Search campaigns are the OG of paid acquisition. Someone types "project management software for agencies" into Google, and your text ad appears. Direct. Intent-driven. Trackable.

With Search, you control everything: keywords, match types, bids, ad copy, and landing pages. This precision becomes critical in B2B SaaS, as buyer intent can vary widely from one search to another.

The transparency is what makes Search valuable. You see exactly which search terms triggered ads, conversion rates by keyword, and quality scores. This visibility lets you optimize based on what's actually working.

Display Ads Play the Long Game

Display shows visual banner ads across Google's Display Network. It's not about capturing adsintent - it's about staying visible while prospects research and decide.

Display works best for remarketing and mid-funnel nurture. It's how you keep your brand warm during long buying cycles. The costs are lower, but so is direct intent.

PMax vs Search: The Core Comparison

Let's tackle the comparison that matters most: PMax vs. Search for B2B SaaS lead generation.

Control and Transparency

Search campaigns catch prospects right when they're hunting for answers. Your ad shows up exactly when they type their query into Google.

Performance Max spreads your budget across Google's properties based on who the algorithm thinks fits your customer profile. It might find perfect prospects or waste time and money on junk traffic. You won't know which until the money's gone.

Here's the Google Ads campaign types comparison:

When to Use Google Performance Max

Performance Max for B2B SaaS works for specific scenarios:

Top-of-funnel awareness when you're in an emerging category where people don't know to search for your solution yet.

Creative testing at scale because PMax automatically tests combinations without manual setup.

Expansion beyond saturated keywords in competitive categories where search CPCs hit $50+.

One HR software client had unsustainable Search costs. We added PMax to reach new audiences affordably. It worked because Search was already profitable. PMax expanded what worked, didn't replace it.

Red Flags vs Green Lights: When Each Campaign Type Works

Why Search Dominates B2B SaaS Budgets

If we're honest, we allocate most client spend to Google Ads Search campaigns. B2B buying behavior favors precision over reach.

High-intent keywords equal high-quality leads. When someone searches "alternatives to [competitor]" or "SOC 2 compliant project management software," they're actively evaluating 

Analyzing Google Ads examples across clients, we found Search campaigns deliver 40-60% higher lead-to-opportunity rates for demos and trials. Why? Searchers have already researched solutions and are ready to take action.

PMax traffic tends to be earlier in the journey - clicked while watching YouTube, not actively searching. Lower cost per lead often means lower-quality leads when they hit sales.

What About Display?

Performance Max vs Display Ads both prioritize reach over intent. So what's the difference?

Display Does Retargeting Well

Display works for:

• Retargeting site visitors during weeks-long comparisons.
• Mid-funnel nurture through visuals and social proof.
• Segmented messaging for different audience behaviors.

We, as a PPC agency for B2B SaaS, rarely recommend Display to cold audiences in this sector. But for following people who already know you? Cost-effective and persistent.

When Each Makes Sense

Use Display when you need retargeting control and placement reporting. Use PMax when you want to test channels without managing separate campaigns.

For most B2B SaaS companies, Display serves retargeting while PMax is an expansion experiment.

The Real Costs

According to WordStream's benchmarks, B2B costs vary by campaign type. We've tracked similar patterns managing over $30M annually.

Search Ads Cost More Because They're Worth More

Search Campaign Costs:

• CPC: $3-5+
• CTR: 2-3%
• Conversion Rate: 3-5%
• CPL: $100-150+

Demos from Search convert to opportunity at 18-28% in our accounts, versus 8-12% from PMax. Higher upfront cost, better economics. See our Google Ads cost analysis.

Display Delivers Cheap Clicks

Display Campaign Costs:

• CPC: $0.50-1.00
• CTR: 0.4-0.6%
• Conversion Rate: 0.8-1.5%
• CPL: $120-180

Clicks are cheap in passive contexts. Value comes from assisted conversions over time.

Google PMax Cost for SaaS

PMax Campaign Costs:

• CPC: $2-4
• CTR: 1-2%
• Conversion Rate: 1.5-3%
• CPL: $100-130

The Google PMax cost for SaaS lands between Search and Display. But without placement visibility, you don't know if you're getting Search-quality conversions or Display-quality awareness.

Side-by-Side Comparison: What Your Budget Actually Buys

See how to calculate ppc budget for planning.

When to Use Each by Growth Stage

Early-Stage (85-90% Search, 10-15% Display): Prove Search works profitably before experimenting. Skip PMax until fundamentals are proven.

Growth-Stage (60-70% Search, 20-30% PMax, 10% Display): With proven PMF, use PMax for expansion while Search drives revenue.

Scale-Stage (50-60% Search, 30-40% PMax, 10% Display): Run everything but prevent cannibalization. Check our improved Google Ads tips.

Budget Allocation by Company Stage (Monthly Ad Spend)

Google PMax vs Search Lead Quality

Cost per lead versus lead quality makes or breaks quarters.

Search delivers:

• 18-28% lead-to-opportunity rates
• 8.5/10 sales scores
• 20-30% higher LTV

PMax delivers:

• Lower top-funnel costs
• Higher volume, mixed quality
• Better awareness metrics

Is Google PMax good for B2B SaaS? Yes, but not for the same job as Search. PMax expands reach. Search captures ready-to-buy intent.

Running Both Successfully

Most companies need both, structured to complement not compete:

Search owns bottom-funnel: High-intent keywords, tight messaging, aggressive bidding.

PMax handles expansion: Discovery, creative testing, and different conversion goals.

Display manages retargeting: Segmented by behavior, separate from PMax.

Exclude top Search Keywords from PMax. Use different goals. Segment audiences. See our best practices Google Ads for the SaaS guide.

What We Tell Clients

Start with Search. Always. It's the most predictable channel. Add Display for retargeting once you have traffic. Test PMax carefully when Search is profitable.

Don't trust algorithms blindly. Measure what matters: cost per SQL, CAC, LTV/CAC ratio, win rates by source.

Stop Guessing, Start Growing

At Aimers, we build and improve Google Ads strategies for B2B SaaS that know where every dollar goes. We structure campaigns aligned with your growth stage and pipeline goals.

If you're wondering where your budget is leaking, book a strategy call. We'll show you exactly what's working, what's not, and what to do about it.