To install the Microsoft UET Tag with Google Tag Manager (GTM), follow these steps:

1. Find or create a UET code to install on all pages using GTM.
2. Set up a conversion goal in Microsoft Advertising and GTM.
3. Test your Microsoft Advertising conversion tracking to ensure it's working correctly.

For the detailed process, you would:

• Navigate to Conversions in your Microsoft Advertising account and click on UET tag to find your Tag ID.
• In GTM, create a new tag and select Microsoft Advertising Universal Event Tracking as the tag type.
• Paste your Microsoft Advertiser ID under the Microsoft Advertising UET Tag ID section.
• Set the trigger to All Pages and save the tag.

Additionally, you can install the UET Tag Helper extension on Chrome to assist with configuration and tracking verification.

To create a Microsoft Ads Tracking Conversion Goal, follow these steps:

1. Decide the type of conversion you want to track, such as website interactions.
2. Select a conversion goal type from the list provided, like 'Add to Cart' events.
3. Input conversion goal details, including naming your event and setting the Revenue value.
4. Set up Tagging to ensure the UET tag is installed on your website.

During this process, you may choose between manual installation or using Microsoft's no-code feature. If you're tracking eCommerce data, you'll need to create a custom event variable in GTM to use the add-to-cart event as a trigger. After setting up, you should test your conversion tracking with the UET Tag Helper extension.

To test your Microsoft Advertising Conversion Tracking, you can use the preview mode in Google Tag Manager or the Microsoft UET Tag Helper. In GTM's preview mode, complete the event action and check if the UET tag and custom event tags fire correctly. The UET Tag Helper is a Chrome extension that verifies if your tags are firing properly. After completing your custom event action, such as clicking an 'Add to Cart' button, use the UET Tag Helper to see if it registers the event and captures the correct value, confirming the setup is correct.

Tracking conversions is crucial in PPC campaigns because it allows you to measure the success of your ads and understand their impact on your business goals. It provides insights into how many leads or purchases your ads generate, helping you to optimize your advertising strategy. Without conversion tracking, you won't be able to establish the value of your ads or know how effective they are in driving valuable customer actions that align with your business objectives, such as brand awareness, sales, or lead generation.