This process will vary greatly depending on whether it’s a site redesign or a new domain….
You will see consistent correlation.
If you're already achieving 3%, 5% or even 10% conversion rates, is that as high as you're going to go?
Avoid sending hot leads to competitors and gain extra data for optimization opportunities.
E-commerce Campaigns but built as Lead Generation.
Start new campaigns with a manual bidding strategy until the algorithm has enough data to switch to automatic. Then, see how high you can push the algorithm to automatically raise its goal (i.e. target CPC of $X could be the goal). You must have conversion tracking set up correctly before running any campaigns or else you will be feeding the wrong data into the machine learning algorithms, which will obstruct its ability to get results. You can check this by going to the Conversions report and checking the “Include in Conversions?” column and making sure that only the appropriate conversion actions are included.
Conversion Actions - To be able to track a conversion, we would need a "trigger" for that conversion action.