You're about to set up a brand awareness ad campaign and you're not quite sure if you should bother setting up conversion tracking on the campaign. Your goal is simply to bring more awareness to the brand anyways, not conversions.
That may be the case, but more data is typically always better than less data. You don't have to view the conversion data on the campaign but if you want to, it would be nice to have the option.
I know brand awareness campaigns are popular with higher budget clients but I have yet to meet a client that doesn't also like to know conversion data on a campaign.
With most ad campaigns being of the digital variety, there's no reason not to include that data, even for a brand awareness campaign.
Now with that said, I think brand awareness campaigns don't make sense for 99% of businesses who are wanting to actually see a direct ROAS from their ad campaign. For that, you want to run a direct response ad campaign. The internet is a perfect channel for this type of advertising, especially Google Ad Search Campaigns since you're reaching people at the point where they're showing intent.
This FREE 6 Lesson Course Shows You How to Set Up Google Ad Conversion Tracking for Lead Gen Campaigns using Google Tag Manager.