Re: Daily Budget!
That's a hard one to answer without knowing what the data says. To improve performance of any account generally requires optimisation, regular management and measurement. In terms of refinements, some of the quick win places to look are match types, negative keywords and scheduling.
Google itself provides some tips on where to get started on improving conversion rate (see https://support.google.com/adwords/answer/2404198?hl=en-GB as an example), but I'd suggest some analysis of previous performance is the best place to start.
If you are unsure because you are new to AdWords, then this would be a good place to start: https://support.google.com/adwords/topic/3119143?hl=en-GB&ref_topic=3119141
Hope this helps.
Re: Daily Budget!
I don't know anything about your business, so can't suggest where you should allocate your money. There are so many factors involved, that any suggestion on where to put your money would quite literally be a shot in the dark i'm afraid.
The figures you've given suggest these campaigns are running on the Content Network. Is that the case? High impressions at reasonably low cost, and low CTR and conversion rates?
You've hit the nail on the head in terms of how to go about something like this - testing. It's a tried and trusted method.
Some comments I would make, from what little I know about the campaign, would be to look at what placements / keywords you're paying for impression for. <1% CTR is very low. Perhaps refining placements and better matching keywords would increase this CTR. Also, the conversion rate seems low, so I'd be looking at where clicks are coming from and going to.
As I say, lots of elements can impact whether you hit your goal or not, so I'd start testing.