Other advertisers who are participating in the same auctions as you can affect your campaign’s ability to serve. For example, if a new advertiser begins entering the same auctions as your campaign, this can affect how many impressions your ads receive.
Example
Another advertiser might decide to lower their target CPA, which means your ad no longer serves on the first page of search results, leading to a drop in impressions. Your Performance Max campaign will adjust automatically to this, so while you may notice a temporary drop in performance, it should start serving again assuming you have no target (tCPA or tROAS) set.
If you do have a target set and there is a drop in performance, consider adjusting your targets (raising CPA or lowering ROAS) to improve your performance or contact support.
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