[Need Advice] Running PMax for Jewelry E-commerce – Low Conversions & Next Steps

Hi everyone,

I’m running a Google Performance Max campaign for a jewelry e-commerce brand. I’ve managed B2B search campaigns before, but this is my first e-commerce setup, so I’d love some advice.

The brand has 5 categories, but with a $60/day budget I’m only promoting 3 (rings, earrings, necklaces). Each has ~18 products, but I cut it down to 9 per category to avoid spreading the budget too thin. Google recommends adding all products (claims +20% performance), but I’m not sure if that’s wise with a small budget.

So far: 26 days running, $1,200 spent, 3 conversions (about $250 revenue), all within the last week. It looks like the algorithm is starting to optimize.

Questions:

Should I keep limiting products or add all of them?
What’s realistic performance to expect from PMax for e-commerce in the first 2 months?
How long should I wait before deciding whether to stick with Google or move budget to Meta Ads?

Thanks in advance for your responses! 🙏

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