How to Get a Spend Report by Asset Groups in Performance Max Campaigns: A Complete Google Ads Guide

A spend report by asset group in Google Ads is a breakdown of cost, conversions, and performance metrics at the individual asset group level inside a Performance Max (PMAX) campaign. If you run Performance Max campaigns, one of the first things you want to know is where your budget is actually going. Getting this report is not as straightforward as it is for regular ad groups, but it is possible. This guide covers how to find it, what the data means, and how to use it to make better decisions.

According to the Baymard Institute (2024), the average e-commerce cart abandonment rate sits at 70.19%. A big part of that problem is misallocated ad spend. Knowing which of these groups are driving conversions and which are wasting budget is one of the most direct ways to fix it.

What Is an Asset Group in a Performance Max Campaign and Why Do these groups spend reporting matter?

An asset group is the core building block of a Performance Max campaign. Instead of traditional ad groups, Google uses these groups to bundle your text, image, and audience signals together. Google's own systems then decide how and where to show them across its full network, including Search, Display, YouTube, Gmail, Maps, and Discover.

Google Ads does not give you a clean, automatic breakdown of spend by asset group the way it does for standard campaigns. According to Google's official Performance Max documentation, cost data at the group level is limited compared to what you can see at the campaign level. That makes reporting harder, but not impossible.

Feedback at the asset group tier matters because if you have multiple groups targeting alternate audiences, products, or brand categories, you need to know which ones are eating your budget and which ones are actually converting. Without that data, you are optimizing blind.

Tinuiti's own case studies illustrate why this matters. When working with a specialty apparel brand running multiple overlapping PMax asset groups segmented by brand, the agency found the structure reached the right audience but didn't always align with search intent. After restructuring to an audience-first approach using audience signals, search themes, and tailored creative per asset group, click-through rates increased by 19% and onsite conversion rate increased by 44%. This is exactly the kind of gain that's easy to miss without visibility into performance at the asset group level, making per-group reporting even more important as you scale.

Why Google Ads Does Not Show Full Spend Data at the Asset Group Level in PMAX Campaigns

Performance Max campaigns run across Search, Display, YouTube, Gmail, Maps, and the Discover network all at once. Google's algorithm controls budget allocation across all of these in real time. Because the system is optimizing across the full network automatically, Google does not expose granular cost per group by default.

Google's Help Center (2024) confirms that groups are not the same as ad groups and do not have their own individual budgets. The campaign budget is shared, and Google decides how to split it based on predicted conversion value and return on ad spend targets.

When you search for a cost column at the asset group tier, you will find it is either missing or shows limited data. Google's own support documentation states explicitly: "Cost data may not be available for all asset groups, particularly in campaigns with low traffic volume or conversion history." But there are still diverse & valuable ways to get a spend report that is close to what you need.

The impact of getting this right shows up in real accounts. Google's own case study on MoneyMe, an Australian fintech, found that after six weeks of running Performance Max with properly configured asset groups and audience signals, the company saw a 22% increase in conversions alongside a 20% reduction in cost per acquisition. Results like this depend on knowing which asset groups are actually driving that improvement, which is exactly what asset-group-level reporting shows you.

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Key Metrics Available in an Asset Group Spend Report

Before building your report, it helps to know what data is actually available at the asset group tier and what each metric tells you. Cost shows total spend attributed to the asset group. Impressions show how often assets from this group appeared on the network. CTR shows whether your assets are relevant and compelling to users. Conversions show how many actions were completed from this group. Conversion value shows total revenue or value generated. ROAS shows return on every dollar spent from this group. CPC shows average cost per click for this asset group. Interaction rate shows how users engage with your assets beyond clicks. Asset strength shows Google's rating of how complete and varied your asset collection is.

Note that cost data availability varies by profile. Google's support documentation confirms that cost columns at the asset group level require a minimum volume of activity before they populate. If you see dashes, the workaround methods below will help.

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How to View Asset Group Performance Reports in Google Ads Step by Step

Step 1: Go to Your Performance Max Campaign

Log into the PPC platform. In the left menu, click Campaigns. Find your Performance Max campaign and click on it.

Step 2: Click on "Asset groups."

Inside the campaign, click the Asset Groups tab in the left navigation. This gives you a list of all asset groups inside that PMAX campaign.

Step 3: View the Asset Group Table

The default table shows metrics like impressions, clicks, CTR, conversions, and conversion value. You can differentiate between performance across multiple asset groups from this view.

Step 4: Customise the Columns to Add Cost Metrics

Click the Columns button at the top right of the table. Then choose Modify Columns. From here, add:

• Cost
• CPC
• Impressions
• Conversions
• Conversion value
• ROAS
• Interaction rate

Step 5: Choose Your Date Range

Use the date range selector in the top right corner. You can compare alternate time periods to see how spend and performance change. This is effective when you want to evaluate the impact of adding new assets or updating audience signals.

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How to Build a Custom Asset Group Spend Report Using the Google Ads Reports Tab

Their inhouse, Reports tab gives you more flexibility than the default campaign view. Google confirms in its Ads Help documentation that custom reports support a wider range of dimensions and metrics than the standard interface, making this the recommended method for detailed asset group analysis.

Step 1: Open the Reports Tool

In the top right of Google Ads, select the Reports icon (bar chart icon). Select Reports, then Create Report.

Step 2: Choose Table as Your Report Type

A table report is the most effective format for spend breakdowns. It lets you sort, filter, and export the data easily.

Step 3: Add Asset Group as a Dimension

Under the Dimensions section, search for and add Asset Group. This tells Google to break down your data at the asset group level.

Step 4: Add Your Metrics

Add the following columns to your report:

• Cost
• Impressions
• Clicks
• CTR
• Conversions
• Conversion value
• ROAS
• CPC

Step 5: Filter by Campaign Type

Filter the report to include only Performance Max campaigns. This keeps the data clean and avoids mixing PMAX results with other campaign types.

Step 6: Select Your Date Range and Run

Pick your preferred date range and run the report. You can download it as a CSV or save it inside Google Ads for future use.

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Reporting Methods Compared: Reports Tab vs Looker Studio vs Google Ads Scripts

Different reporting methods suit alternate use cases. Here is a direct comparison to help you choose the right one.

The Google Ads reports tab has low setup complexity since it is built into Google Ads with no extra tools needed. Its data granularity is medium, covering the asset group level with personalised columns, making it ideal for quick one off reports and CSV exports. Google Looker Studio has medium setup complexity, since it requires connecting a data source and building a dashboard. Its data granularity is high, offering visual dashboards with multi campaign views, making it ideal for client reporting and ongoing monitoring across multiple accounts.

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Google Ads scripts have high setup complexity, requiring JavaScript knowledge and script setup. Their data granularity is high, fully custom and exportable to Google Sheets, making them ideal for agencies managing many accounts that need automated weekly or monthly reports. Supermetrics has medium setup complexity as a paid tool that connects via API. Its data granularity is high, pulling raw Google Ads data into Sheets or Looker Studio, making it ideal for teams that want automated data pipelines without writing code.

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Porter Metrics has low setup complexity as a no code connector for Looker Studio. Its data granularity is medium to high, with pre built PMax templates available, making it ideal for smaller teams or freelancers who need fast Looker Studio setup.

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How to Compare Asset Group Performance Across Multiple PMAX Campaigns in Google Ads

If you run more than one Performance Max campaign in your account, comparing asset group performance across campaigns requires a slightly alternate approach.

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Option 1: Use the Reports Tab with a Campaign Dimension

Build a personalised report as described above. Add both Campaign and Asset Group as dimensions. This lets you see all asset groups across all PMAX campaigns in one table and compare cost, conversions, and ROAS side by side. Google's reporting documentation confirms you can combine diverse dimensions in a single databse report.

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Option 2: Use Google Looker Studio

Google Looker Studio connects directly to your Google Ads account and lets you build visual dashboards that pull asset group data across campaigns. According to Google's Looker Studio documentation, it supports Google Ads as a native data source with no extra setup required. This is the best option if you manage different ad accounts or need to share reports with clients. Looker Studio is free to use.

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Option 3: Use Supermetrics

Supermetrics is a paid data connector that pulls Google Ads data, including asset group metrics, directly into Google Sheets, Looker Studio, or Excel. Supermetrics is particularly useful for agencies that need to automate reporting across dozens of ad accounts without writing code. Pricing starts at around $99 per month depending on the data destinations you need.

Option 4: Use Porter Metrics

Porter Metrics is a no-code Looker Studio connector with pre-built Performance Max report templates. It is a faster alternative to building Looker Studio dashboards from scratch and is popular with freelancers and smaller marketing teams. A free plan is available with paid options from around $29 per month.

Option 5: Use Google Ads Scripts

Google Ads Scripts let you pull asset group data programmatically and export it to Google Sheets. Starter scripts are available in the Google Ads Developer documentation. This works well for agencies managing multiple accounts at scale.

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How Asset Group Strength Affects Spend and Performance in Performance Max Campaigns

Inside each asset group, Google shows an Asset Strength rating. Ratings go from Incomplete to Low, Good, and Excellent.

Asset strength is closely related to how much budget Google allocates to a group. Google's Performance Max documentation states that asset groups with higher strength ratings reach more users because Google has more content to work with across different ad formats and placements.

According to a Search Engine Land report on Google's Ad Strength guidance, Google has confirmed that a low Ad Strength score can help explain a lack of impressions for a campaign, since Ad Strength reflects the breadth and depth of assets available for Google to work with across formats and placements. The same report notes that advertisers who use PMax's built-in asset generation tools have a 63% higher chance of reaching a "good" or "excellent" Ad Strength rating.

If an asset group is getting low impressions or low spend, check its asset strength first. Adding more text variations, images, and relevant audience signals is often the fastest way to improve reach. An Excellent rated asset group gives Google the flexibility to show ads in more formats across more of the network, which typically results in higher total spend and more conversion opportunities.

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How to Improve Asset Group Reporting Accuracy and Get Better Spend Attribution in PMAX

Use distinct asset groups for different product categories or audience types. Separating groups by product line, brand versus non-brand, or customer segment makes your reports more useful and your optimization decisions clearer. Google recommends creating separate asset groups for meaningfully different audiences or product sets to give the algorithm clearer signals.

Label asset groups clearly. Use names that describe exactly what is inside. For example, "Summer Sale - Returning Customers - US" is more useful than "Asset Group 1" when you are reading a report or sharing it with a client.

Add audience signals that match each group. Google uses your audience signals as a starting point. Better matched signals lead to more relevant impressions and more reliable attribution in your reports.

Check reports weekly. Performance Max campaigns can shift spend quickly. A weekly review of your asset group report lets you catch underperforming groups before they waste too much budget. Google's own optimization guidance recommends waiting at least six weeks before making major structural changes to a PMAX campaign to allow the algorithm enough learning time.

Identify conversion goals at the campaign level correctly. If your conversion tracking is not programmed correctly, your ROAS and conversion data in the asset group report will not be accurate. Google's conversion tracking guide is the most reliable reference for getting this right.

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Common Problems When Getting a Spend Report by Asset Group and How to Fix Them

Problem: The cost column shows dashes or no data. Google's support documentation states that cost data at the asset group level requires a minimum volume of activity before it populates, typically after 30 to 50 conversions in the campaign. Use the custom Reports tab and try different dimension combinations in the meantime.

Problem: Asset group data is missing from Looker Studio. Make sure the Google Ads connector has the correct account permissions. You need read access to pull asset group data. If your data source shows campaign level data only, create a new data source and select Asset Group as a dimension.

Problem: You cannot compare asset groups across campaigns. Use the Reports tab and add Campaign as a secondary dimension alongside Asset Group. Download as a CSV and build your own comparison table in a spreadsheet.

Problem: Data looks different in Google Ads versus Looker Studio. This is usually a date range mismatch or a difference in attribution model settings. Check that both tools use the same date range and the same conversion attribution window. Google defaults to a data driven attribution model for PMAX, which can differ from last click settings used in older reports.

Problem: Supermetrics or Porter Metrics is not pulling asset group data. Check that your connector has the Asset Group dimension enabled in its field settings. Both tools require you to manually add Asset Group as a field in your data source configuration. Their support documentation covers this setup step in detail.

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Summary: How to Get a Spend Report by Asset Group in Performance Max Campaigns

Getting a spend report by asset group in Google Ads takes a few extra steps compared to standard campaigns. Here is the full process in order:

1. Go to your PMAX campaign and select the Asset Groups tab.
2. Modify your columns to include cost, ROAS, conversions, and other relevant metrics.
3. For more detail, use the Reports tab to build a custom table report with Asset Group as a dimension.
4. Connect Google Looker Studio, Supermetrics, or Porter Metrics for visual dashboards and client-ready reports.
5. Use Google Ads Scripts for automated, large-scale reporting across multiple accounts.
6. Keep asset groups organized by product category or audience type so your reports are useful.
7. Check asset strength and keep it at Good or Excellent to help Google allocate more spend to your best groups.

Full spend transparency at the asset group level in Performance Max is still limited compared to traditional campaign types. But using the methods above, you can get close enough to make informed optimization decisions and understand where your budget is going.

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Frequently Asked Questions About Asset Group Spend Reports in Google Ads Performance Max Campaigns

Can I see exact spend per asset group in Google Ads? Not always. Google's documentation confirms that cost data at the asset group level requires a minimum activity threshold before it populates. Use the Reports tab to check what is available in your account.

Is an asset group the same as an ad group in Performance Max? No. Asset groups replace traditional ad groups in PMAX campaigns but work differently. Ad groups control bids and keywords. Asset groups bundle creative content and audience signals, and Google controls how and where to show them.

How often does asset group data update in Google Ads? Most metrics update daily. Some conversion data can take 24 to 48 hours to fully process depending on your conversion window settings.

Can I set a budget for a specific asset group? No. The budget is set at the campaign level in Performance Max. Google decides how to distribute spend across asset groups automatically based on predicted performance.

What is a good ROAS for a Performance Max asset group? It depends on your business, margins, and targets. A useful starting point is to use your historical campaign ROAS as a benchmark and evaluate each asset group relative to that number. Google recommends setting a target ROAS based on at least 30 days of conversion history before making optimization decisions.

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