If you ever wondered why concentrating on conversion makes sense, the pinch that most of us are feeling right now should clear your mind.
Dollars for PPC are just not there. Internal battles for advertising funding have never been more hard fought.
Focus on conversion instead. If nothing else, remove barriers to sales. Make sure your shopping carts or registration processes don't confound the few who WANT to buy.
Make a promise to yourself to do one thing tomorrow that will remove obstacles to online sales. It's high time.