Why do my Google Ads conversions drop even when traffic volume stays stable?

Stable traffic but falling conversions typically point to algorithmic misalignment caused by incomplete feedback loops. When tracking drops data or landing pages don't align with search intent, automated bidding models start targeting low-quality cohorts that never convert. Restoring consistent first-party data capture and ensuring pre-click to post-click continuity trains the algorithms to focus on high-intent buyers again.