I have read blogs, books and even paid a so-called professional firm (well known in the Yahoo Store World) and I have not improved my metrics. Doing the same thing over will never get you different results.
Until now...I have completely changed the way I structure my account.
I will use AdWords for all my examples.
1. I am always afraid of overspending and thought the way I controlled that is through setting my daily spend at a certain amount (for our example $100/day). Well what this does is limit the number of times your keyword is shown, not good you want your keywords to show as often as they can.
I now set my daily spend at $9,000 / day. Thats right $9,000 per day. I never come even close to this. In fact, I spend less, much less than when I had the settings at $100 / day. HOW?
2. I created my kewords (and I have tens of thousands) in these group types. For longer term phrases I use BROAD Match, for two or more kewyords I use PHRASE & EXACT.
This limited my traffic and not what I really wanted. My CTR went up, My Cost/Conversion went down...but I want more qualified traffic. HOW?
3. Broad single, two keywords are the way to get a ton of traffic and I mean a ton, but I want Qualified those that may buy what I have at www.johnnylew.com
. What I have learned is how to effectively use the Negative Keywords. For example I see 5 Quart Galvanized Pails with NFL and MLB team logos. So of course I have "Dallas Cowboys Metal Bucket" and every variation of "Cowboys Bucket/Pail" imagineable.
But I now bid on "Metal Bucket" and "Beer Buckets" etc... This has increased traffic exponentially. Of course when I first turned this on I was getting traffic for "Metal Buckets for Horses" and "Buckets of Beer".
HERE IS A HUGE AND VALUABLE learning: Watch your server logs like a hawk, hour by hour in the beginning and daily look at all the search terms. Google AdWords even has a search term report you can use.
All the words you dont want traffic for simply add to your Negative list.
4. Back to Why $9,000 a day...Oh yeah I also set the ads to accelerate and not show evenly. Why? Because you want your ads to show as often as possible. Back when I was at $100/day and show evenly, my ads were shown sporadically. Now they show much more often, and like I said before I never come close to even the $100 /day. My traffic is converting higher and lower CPC's because my Quality Score is higher.
Its awesome, throw out everything you thought about setting the PPC campaign settings.