Nikhat I.
I would look at this from 3 perspectives, considering:
I usually add a custom layer (ratio report) on top of ordinary reporting that tells me: this percentage out of overall ad spend brought this percentage of out of overall conversions. Screen attached for better illustration.
For example, on line 17 you can see that 34% of overall ad spend brought 16% of overall conversions. This can be applied to markets, channels, campaigns etc.
Based on this, you'd get some insights which channels might be less significant contributors. To validate the idea, I'd decrease/pause them in certain markets to see the impact on the business.
