Google Ads’ New Channel Performance Tool Helps Coworking Operators Improve Lead Gen
If you run Google Ads for your coworking space, you’ve probably heard about Performance Max. It’s Google’s “do it all” campaign that’s expected to get your business in front of people across Google Search Results, YouTube Videos, Gmail Ads, Google Maps, and more channels, all from one campaign. Sounds pretty great, right? Almost too good to be true.
Until recently, you couldn’t actually see which of those channels were doing the heavy lifting. Was it Google Search bringing in most of your tour bookings? Or was it Google Maps helping locals find you when they typed in “coworking near me”? That breakdown just wasn’t available.
As of June 6, 2025, that’s finally changed. Google has rolled out the Channel Performance Tool, which shows you exactly where your impressions, interactions, and conversions are coming from inside Performance Max campaigns.
With easy-to-read views like Performance Summary, Source of Conversions, and Channel Distribution, coworking operators now have the data to see what’s working and make smarter (and often harder – more on this below) choices about how to bring in more tours, memberships, and office space sign-ups.
High-Level Insights of the Performance Summary Section
If you’re a frequent performance max user, you’ve just struck gold my friend. The first window you’ll see via the Channel Performance Tool serves as a quick high level check into the health of your PMax campaign.
Titled the Performance summary, this section will go over high-level metrics including your cost per lead, the amount of time someone has interacted with your ads, the number of conversions you have generated, and the cost of having cast your marketing spells. Nothing too groundbreaking, but it serves as a good baseline before we transition into flow chart territory that’s really going to change the game.
The “Where Your Conversions Come From” Sankey Diagram
Enter Google Ads’ unimaginatively titled “Where your conversions come from” in the form of a Sankey diagram, exclusive to performance campaigns. This flow chart sections out all six of performance max’s channels as follows:
- Discover
- Display
- Gmail
- Maps
- Search
- YouTube
With this setup, you have all the colourful deets you need to figure out which of your channels are contributing the most to the conversion actions you’re aiming to optimize for:
By clicking on each individual band, you can section out to a particular channel and see which specific conversions it’s pulling in. This exercise can be especially useful if you’re limited by budget but still need to be getting those leads into your CRM:
- Search doing all the heavy lifting in performance max? Consider pausing your separate search campaign and saving on a budget for a month if you need to reserve some budget.
- YouTube not showing any movement at all? Get in your director’s chair and piece together a promotional video to attach to your performance campaign.
- Display getting clicks but not conversions? Get some professional photos uploaded that highlight the uniqueness of your space.
- Discover’s absolutely killing it? Well… good. That’s just the way the cookie crumbles sometimes.
The possibilities in taking actions post analysis are endless and there’s still more that you can do with this interface.
With this tab, you can further section out the channels based on:
- Cost (i.e. how much each channel is spending and if that’s worth the cost per lead)
- How ads with videos are performing vs. ads without videos
- Toggle between all conversions or just primary conversions.
It might have taken a while, but Google delivered on this long requested feature that can help you see past the blind spots so you can make more informed decisions on your marketing strategies when dealing with as automated a campaign type as performance max.
The Most Detailed View: The Channel Distribution Table
But wait! There’s more!
If you’re a geek like us, you have probably wondered or are currently wondering: hey, what happens if I wanted to know more about each channel’s metrics other than conversions, like cost, impressions, clicks, and that conversion value thing everybody’s always talking about. After all, not all channels are created equal and as such, aren’t all conversion focused i.e. Display, which is largely used for brand awareness as opposed to generating lead form submissions. Well fret not, dear reader for a quick scroll below will bring you to the Channel Distribution section.
If you despise colours and flow charts, you’re gonna love this:
This section pays homage to the most common form of data tables on Google Ads, not too different from what we see anytime we take a look at our All campaigns tab. Everything is perfectly laid out with each channel being treated like its own campaign, with metrics to match. If you’re looking to get down, get down, and move it all around, you have a number of options to choose ranging from enabling various segments and columns to report downloading for sharing with your marketing team and/or shareholders.
While some of the segments you can enable are still limited, it would come as no surprise when Google adds more options as it updates this feature over time. You can even enable the Reports segment to review search term reports for the search channel (yes, PMax now supports this) as well as placement reports for the YouTube and Display channels.
How to Find The Channel Performance Tool
If you’re ready to explore your own campaign and see this glorious update in action, check out the following instructions:
- Log into your Google Ads account: ads.google.com
- Click on the drop down next to the Select a campaign option in the top left
- Select the performance max campaign you’d like to review
- Hover over the “Campaigns” button on the left hand side tool bar
- Click on the drop down for the section titled “Insights and reports”
- Then, click on the option that reads “Channel performance”
- Once you’re on this page, make adjustments to the timeframe and you can get started on your analysis
Why This Matters to Coworking Operators:
So whether you’re a coworking operator who is running your first campaign, a Google Ads veteran, or just looking for answers, you can definitely benefit from adding the Channel Performance Tool to your arsenal. For coworking operators, that means knowing exactly which channels are driving tour bookings, memberships, and form submissions. No more guessing or hoping your ads are working when you can have the necessary data at your fingertips to generate assets for a high performing channel, better allocate budget, focus more on imagery, or even consider not using performance max at all.
Even though this tool does come with a lot of answers in terms of data and metrics, it raises just as many questions in regards to how best you can move forward when developing your strategy with these learnings serving as a foundation.
If those questions are keeping you up at night, Spacefully can help. Book a free introductory call to see how we help coworking spaces generate qualified leads, fill offices, and boost coworking memberships using all the tools Google Ads has to offer.
Trust us. We know our stuff.
