---- January 2008: Are You Seeing The Lowest Numbers Ever?
tim222 - 4:57 pm on Jan 17, 2008 (gmt 0)
I opened an AdWords account a while back to learn a bit about that side of the equation. I wasn't offered, suggested, required, etc. to establish any conversion criteria. I don't even recall seeing it mentioned.
I think ypu're supposed to use Google Analytics to track conversions. But since many advertisers don't use that, apparently Google has other secret methods to determine ROI.
Here's a relevant comment by Google on the topic of Smart Procong. It's vague, as usual, but they do claim that they don't make money on Smart Pricing: