One can use PPC as primary acquisition channel or a supplementary one just to figure out potential keywords, one does need the tracking reports beyond the click through rate and average cost per click offered by Google adwords to know how well the web traffic is performing.
For an effective PPC campaign one needs to know keyword cost to you, effective keyword conversion rate, because the real cost of the click is calculated by comparing what we paid for the click against the revenue that click generated.
For instance most of affiliate management software’s feature PPC Tracking tools that allow tracking PPC campaigns and let us knowing how certain keywords convert for referrals. By using proper tracking tools one can always keep the ongoing optimization play a role in improving the effective return on investment for advertiser.