THE COMPLETE MATCH TYPE PERFORMANCE STUDY: THE BEST MATCH TYPES BY BID METHOD

Summary from the TLDR Marketing newsletter

Exact match delivers the best efficiency with higher ROAS and lower CPAs across bidding methods. Broad match supports revenue-driven strategies, especially with Max Conversion Value bidding. Phrase match underperforms in low-data accounts but improves with Target ROAS or Target CPA as Google gains data. Smaller advertisers should start with Exact and expand to Broad, while larger advertisers can layer in Phrase and then Broad based on budget. Exact match should remain the foundation, with adjustments by bid method and account size.