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It definitely works but not because Google panics — because it works exactly opposite of expanding your budget. Ever notice how when Google recommends that you increase your budget it tells you that you will get X more conversions at X amount of CPA increase? It’s because it’s already delivering you the most efficient audience and expanding it means higher risk audiences. So when you contract your budget, it contracts those higher risk audiences. Incrementally decreasing budget will increase efficiency. But it will also decrease the number of sales (obviously).
