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My actions would depend on a lot of things.
If it was an unknown traffic source I might assume the source was crap, but would likely test it out with other offers to be sure.
I might also think the e-mail submit is scrubbed to venus and back and worthless. But if it is converting with other traffic sources, then I would again think the traffic is crap.
I would also check my keywords see which ones are getting traffic. In some cases only a couple keywords can get almost all the traffic, and if one of them is questionable or bad, it can skew all your results. So I would check that as well.
I find submits to be a pain for me in PPC just because the payout is so small, and the cost to get clicks too high. You can make slim margins on them, but rarely will you find one where they convert like you might expect.
Logically you think, someone is interested, why would not like EVERYONE put in their zip code. Or at worst case 50%, but a lot of people don't, the just leave. And of course the source is probably scrubbing those that do, and the rest.
Those systems are fine tuned to make the advertiser good money, a little bit harder for everyone else.
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