If your campaign is profitable, the answer is yes.
With a profitable campaign, you should try to get as many impressions and clicks as possible.
If you’re reaching your daily budget and your campaign stops serving, you’re likely to lose some potential conversions.
You should gradually increase your budget, but always ensure your campaign remains profitable.
Campaigns by ‘Limited by budget’
Filter all your campaigns by ‘Limited by budget’ to find potential campaigns that are losing impressions. Analyse at least 1/2 weeks of data.
Campaigns > FILTER > Status > Eligible to run > Limited by budget.
Have a look at the Search lost IS [Impression share] (budget).
(If you don’t see the Search lost IS [Impression share] (budget): COLUMNS > Modify columns > Competitive metrics > Check Search lost IS (budget).
In this example, a campaign shows 58.53% Search lost IS (budget) and Cost per conversion, €30.98.
Now I can compare this Cost per conversion with the cost per conversion in other campaigns. If it is lower, then the daily budget in this campaign should be increased.
In this example, a campaign shows only 1 conversion and a high Cost per conversion, £313.01.
Now I can compare this Cost per conversion with the cost per conversion in other campaigns. If it is higher, then the daily budget in this campaign should not be increased. If that cost is far too high, the daily budget should be decreased instead.
Extract from my tutorial ‘Making Google Ads Work’.