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take a test budget like 10% of the total budget approx and run all audiences and creatives in parallel with the same bid stratgies. after a week, pause all campaigns and compare all metrics: CPC, CTR, CVR, CPL etc. and then decide what you want to keep running and what you want to pause.

Aniruddh is right, rather than relying on projections, I would also recommend you start the new regions with a test budget and for cpc, provide 50% less average cpc than US regions. On the basis of the results you can increase or decrease the bids and budget. Some hacks: -> Review your competitors' traffic by country using Semrush, and you will gain more insight into the potential of specific countries -> If your company is organically strong, analyze the region's organic performance in terms of traffic, conversions, and lead quality prior to all these things.

To get to a initial CPL for “mota mota” calculations, consider the lower end of industry benchmark. Like 2% CTR on the ad, 1% conversion on the landing page, avg. CPC shown by keyword planner. Can be done on a excel sheet.

Thanks all for your inputs and help! I guess the best way (as suggested by most of you) would be to get actual numbers by running a trial ad for a week and making a decision based on that.

@Shubhanjali whenever I have been asked to present a rough budget plan this is what I do 1. Google Keyword Planner - Get the volume and bid cost for top 5-10 keywords 2. Assume my bid will be 10% above the bid cost 3. Take industry conversions rate (and dial it down). If industry conv rate is 4% - i would take mine as 3.25% (no specific reason for the delta) 4. Then i get a budget - which is generally approved 5. Then I run the campaigns as suggested by @Aniruddh Jain and then see data and keep correcting my budget Everyone wins 😄