Google Ads has introduced a new ValueTrack parameter called {search_term_matchtype}. This parameter captures the match type of the search term that triggered an ad. It records “e” for exact, “p” for phrase, “b” for broad, or “a” for AI Max broad expansions and keywordless matches.
Advertisers can utilize this parameter in conjunction with {matchtype} to separate AI Max expansion clicks from standard keyword traffic in their analytics. For example, AI Max expansion traffic is identified when {matchtype} is set to e, p, or b, but {search_term_matchtype} equals a. In contrast, standard keyword traffic is indicated when {search_term_matchtype} does not equal a.
Read the official help page here: Set up tracking with ValueTrack parameters.
This update was spotted by Hana Kobzová.