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Reduce Adwords CPC Cost - Tips from Adwords Pro

I am wondering if this is common practice, but this has worked for me with great cost/value benifit.

Generally start with keyword bids with whatever value it takes to get keyword enabled and start getting traffic. Once ad starts getting good CTR and position around 1-4, reduce the keyword CPC (keeping it still enabled).

This practice helped clients to reduce CPC significantly (50%) still maintaing decent ad position and CTR.

Few tips: