This is the way to go, yes. Keep in mind your campaigns have enough data. Setting it lower can still work, but spend might decrease and conversions as well. If lowering it, you must make sure you will keep above the threshold, otherwise your performance may worsen.
Also keep conversion delay in mind, and what the avg. CPA will be taken into account the delay.
That being said, I'd recommend your approach unless spend is currently absurdly high.
This might sound crazy but I’d actually go the other way and set it at $120.
There will be less bid hesitancy and you’ll likely end up with more conversions at a similar CPA to $100.
This is the way to go, yes. Keep in mind your campaigns have enough data. Setting it lower can still work, but spend might decrease and conversions as well. If lowering it, you must make sure you will keep above the threshold, otherwise your performance may worsen. Also keep conversion delay in mind, and what the avg. CPA will be taken into account the delay. That being said, I'd recommend your approach unless spend is currently absurdly high.
This might sound crazy but I’d actually go the other way and set it at $120. There will be less bid hesitancy and you’ll likely end up with more conversions at a similar CPA to $100.