Can you please discuss about importance of landing pages in Google Adwords? How important is landing page?

I agree with answer provided by Wasim and in addition to the above check if your landing page has the below elements also?

Does your Landing Page have a Hero Shot?

Does your Landing Page have a clear and direct headline?

Does your Landing Page have a clear call to action?

Does your Landing Page have one final strong persuasive message above the call to action?

Does your Landing Page have a web analytics package?

Do you regularly analyze the data from your web analytics package?

On your Landing Page, do you test a variety of interactive calls to action?

Does each one of your LP absolutely match the source campaign creative?

And possibly Build Trust on your site or brand?

Using effective landing pages for your PPC campaigns can result in higher conversion rates and a lower cost-per-click. Which lower your overall spends.

Here Adwords performance strength is determined by three things:

Ad relevance

Expected click-through rate

Landing page experience

Hence, having appropriate landing page will improve overall PPC campaigns performance.

Thanks,Pradeep

Landing page is very important in SEM/PPC as it help in Overall Qulaity Score of and Account.

It helps to reduce overall PPC cost

It helps to increase keywords Quality Score

It helps to improve conversion rate

It helps to reduce CPA

It helps to increase return on investment

It helps to reduce Keyword average CPC