What causes smart pricing? Google say it's down to the conversion of the clicks. However, there are plenty of niches that don't convert online. For example, google is unable to track offline conversion. If I pick up the phone and call the widget seller, google won't be in a position to track that click. Therefore, if it's in a niche that doesn't use online tracking how do they decide on smart pricing? Does anyone think that smart pricing is related to CTR? Assuming you are seeing a low CPC, what have you done to change your site to improve the CPC. How long has it taken for these changes to reflect in higher earnings? If you were in the mortgage niche, would you consider a $1 click to be smart priced?