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You're in charge of how much to pay per click with $0.05 being minimum you can bid. Their "Ad Words Discounter" ensures you never pay more than is necessary. If cost per click you picked is higher than what is needed for your ad to keep its place, CPC you're charged will be automatically lowered. You'll never pay more than one penny over what your competition pays. This is unlike Overture, where you constantly have to monitor and re-adjust your bidding.
Also unlike Overture, where you must bid a set amount on each keyword/phrase, with Ad Words Select you set a "maximum cost per click" which applies to all of your keywords. If you want to assign different amounts to them you'll have to set up a separate "ad group" and set a different maximum cost per click. There are no monthly minimums and you set maximum daily amount you wish to spend.
The position of your ads on search results page is based on two things; maximum CPC you bid and your ads' clickthru rate. Both of these factors together will earn you a higher position. Keywords will be disabled if their click rate falls below 0.05%, so you'll want to make sure your ad copy pulls.If some of your key phrases get deactivated, you can make changes to your ad copy and reactivate them again. There is another charge if this happens more than once. Reports on your ads' activities can be viewed online by logging into Google at anytime.
>From what I've seen Google's new Ad Words Select Program has a lot of potential and great features that should make Overture sit up and take notice. Between "Ad Words Discounter" and no minimum monthly to spend, I think Google may just become a major player in pay per click field.
For more information or to open an account go to....(no pun intended) https://adwords.google.com/select/main?cmd=Login
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