I'm running some site-targeted campaigns, and want to know what other people's experiences have been like with adwords. my first 300 impressions netted... 0 clicks. even a free adswap i used to run got more than that (initially; then it stopped getting clicks and i removed the ads.)
Oh, and some google news: maps are now available for ads New! Advertise on Google Maps Since this campaign is locally targeted, we thought you might be interested in creating ads associated with your Google Maps business listing.
They work OK for me but in very small doses. I usually set a CPM of £0.20 (about 35 cents) and just take what comes. At that CPM it's very few but it IS cost effective. As soon as I move up the CPM price ladder it is not cost effective per click. I tried a CPM of £10 once and it ended up costing me over £1 a click. Besides I tend to get bumped off as the only sites really worth targeting are competitor sites and they usually filter me out eventually. If you think about it there are other "uses" besides being clicked. For example I have a "subscription" website and it can be useful to attract new subscribers if they see you actively "advertising" on other relevant sites. Likewise for clients looking for cheap "branding" exposure - i.e. clients who may not be really bothered about getting visitors but are more interested in their brand being exposed in large quantities, usually over a short period of time.
You make a good point about the branding. As a friendly tip, if CTR is irrelevant, you can make CPC ads that intentionally are written to avoid clicks. Offer a high bid, and you might get lucky with good position and no/little costs as no one clicks. get lots of keywords going and you'll be getting tons of free impressions.