I have spoken in the past about the value of tracking everything you can. Especially in Google Analytics. How ever when managing your paid advertising, Google AdWords Conversion Tracking is exactly what you need for fine tuning your PPC campaigns into a money making machine!
With AdWords conversion tracking you can track the true value of each individual keyword or key phrase. Also great way to see wich match type works the best as well, weather its broad, phrase, or exact. You can see exactly which one yields a Purchase/Sale, Lead Submission, Signup, Views of a Key Page, or Custom.
The stats you get are How many Conversions (people that took desired action), Conversion Rate % (conversions devided by clicks), and my personal faverote Cost per Conversion (total cost devided by conversions). With my past sales and marketing experiance it has alwayse been about how much work must be done or how much money must be spent for each sale. This is the exact answer. And if you know your Margins for the products or services you sell or provide you can figure out your exact needed budget.
My Duty as a PPC pro is to help get that cost per conversion down as low as possable at the same time as keeping the conversions as high as possable. Its not all about clicks, its about our viewers and potential customers being people who take action now. So if you do your own PPC management or plan to outsource later set it up and implement it as soon as posable to help now and in the future when you get to fine tuning and optomizing!