Originally Posted by openeye
6) Dont bid too high - Theres no point bidding at £2 per click if your budget is £10 per day. Try and work out the best bid prices which will get you the most amount of traffic per your budget e.g. can you get £10 worth of traffic per day by bidding at 50p and get 20 clicks - instead of bidding at £1 and getting 10 clicks.
I agree 100% with tips in this letter EXCEPT #6. In the very very beginning you will need to set the budget on in order to test certain variables (keywords, CPC, Ads, Landing Pages). BUT once your established - should be within 2weeks or so, if your still saying you need to have a Budget - something is WRONG.
You want your PPC Cash Machine to be running at a rate that for every dollar you put in your getting 2 or more out. Therefore if you limit your daily spend your limiting the daily potential revenue.
For my Adword Campaigns i have set a $27,000 daily limit. Why? Because I have my campaign running at a 300% ROI. For every dollar of ad spend I get three dollars in revenue. Why would I set a limit on that?
I want as much of that as I can possibly get every day.
When I hear people say they need to set a budget for their PPC that means that its not working.