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The Google team has put together their checklist adhering to best practices for mobile ads.

  1. Use mobile ad creatives and extensions to be mobile friendly
  2. Target mobile devices
  3. Measure the impact of mobile
  4. Make your mobile bids
  5. If you don’t have a mobile friendly site use call only ads

Get the entire checklist here.

Source: Create Effective Mobile Ads: Google Best Practices – AdWords Help