In Google Keyword Planner first-position bidding shows $0.70 for a specific keyword. But Google suggests $1.20 (Manual CPC). What can I do? Keyword Planner is estimated don't go by that. Google is saying $0.70. Why is it charging me $1.20? It all depends on how many competitors they are, as simple as that. That bid will keep updating and changing in real time.
So as long as you are getting the impressions, and the clicks and not losing out on the impression share your bids need to be competitive and you want to show your ads as many times as possible when somebody researches for that keyword. So I won't stress too much about what Google says, it's actually what we are getting. And if I'm paying more and my conversion rate goes high, it doesn't matter because my cost per conversion will go down if my conversion rate is high. So I don't want a cheap click and a lower conversion rate because then my cost per conversion will go up. As simple as that.
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