yes... assume you bid on the word "dog" and average account bidding on dog will spend $200 a day. If your budget is $50, then Google will display your ad when competition is at its lowest in order to meet your budget goals.
If I wanted to spend $50 then should I set my budget to about $1500 a month. Just upgraded to the "standard version" so I'm still getting used to it.
no absolutely not... Setting a budget that high means you need to have the ability to pay $1500 in one day. Budgeting is set daily. A $50 a month budget would require a $1.6 a day budget. If you plan on spending so little, i do not recommend adwords as a marketing method.
You can control when the ads are displayed so if you see over time that more people buy at 12 noon everyday you can run your ads only at that time...this is a tactic I have tried in the past and it works of you can figure out a pattern of when people are most likely to buy.
I was using the "Starter Edition" and just upgraded to the "Standard Edition" which seems to be a little different. I currently have my budget set to $20 a day and have my maximum CPC set to $.15. They're also let me get the keywords "wholesale" and "wholesale products" for that amount. I'm currently bidding on about 1,000 related phrases. If I just bid on 10 keywords/phrases will I show up more for those phrases?
"If I just bid on 10 keywords/phrases will I show up more for those phrases?" You will show up for those keywords, but it depends on the keyword how often you will show up, because there are high-traffic and low-traffic keywords.
I finally figured this whole thing out. Whenever you start a new campaign, Google will test out your advertisement for the keywords of your choice. If your ad doesn't generate enough clicks, your CPC will go up. I honestly think their system is stupid and they could double or triple their profits if they came up with a more solid system. Also, they limit what you can do with the ad which also contributes to the fact that many people ignore the sponsored ads.
this is a good system in my view. google rewards you for a good landing page, keyword relavancy, good QS, and high CTR. these are the things that set you apart from a get rich quick person. your CPC is based on your QS and CTR therefore higher the CTR and QS, lower you pay. if you are playing competitive, then google rewards you with competitive pricing. if not, then you pay 3 times more. this system is designed to weed out scammers and spammers who load thoudands of keywords where their keywords don;t match ad copy therefore have poor QS and doesn;t trigger much click as the ad copy doesn;t match keywords therefore low CTR. google cannot treat all kinds of advertisers the same way. people who play fair game should be rewarded for their extra effort