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In pay per click analysis for your optimal pay per click bid management, the rule is test, test, test.
If your keyword is #1 on Overture (and you've spent big PPC dollars to get there), don't just assume the #1 spot will automatically turn your results to gold. Your pay per click report may show that your conversion rate is 10%. This may sound good (a 1% response is usually considered favorable in direct marketing), until you test the #2 or #5 keyword listing and discover that according to those pay per click reports, your competitor's keyword has a 20% conversion rate.
Many pay per click bid management services and software programs have built-in a pay per click tool that tracks ROI and conversion rates with automated testing. But there's still no substitute for doing it yourself.