I have a question... I'm using google Adwords Keyword Tool to find keywords to bid on. However...I've found some long tail keywords that have "Very Low Advertiser Competition" and yet when I do a Google search on it, a whole bunch of ads come up in those paid positions. 1 or 2 of the ads have the keywords in the title and some don't. So what's going on here? How are they ranking for these terms if the competition is supposed to be "Very Low?"
very low competition doesn't mean NO competition. They don't have to have this keyword in their title. It all depends on several factors, some of them being - their bid on the phrase - pagerank - score for their content You should look and analyze their pages to see why are they there
The exact match terms get lowest click but can give you good conversion because it is more targeted however if you chose broad match terms they will clicked more often and will cost you money and will have poor conversion.