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This is generally what I’ve seen too. Makes sense. There is an argument that phrase is just a poor version of broad match because broad match uses 3x more signals when targeting. And because phrase matches so much in intent now. But I’m finding that phrase is still more precise, and less work to maintain than broad which requires a ton of work to keep clean.
Yeah it’s a hard question to answer in terms of which one is “best” but Phrase generally spends the budgets the best for me and drives the best quality leads. I’ve switched to Broad Match as a test several times this year for long-term accounts and it generally doesn’t improve our performance. For higher budgets and lower average CPC I have more success with broad keywords, but other than that I usually don’t.