So, I'm new to adwords and was just wondering everyone's opinion on when to freeze or delete an ad and move on. I've heard people say move on if it hasn't made a sale (on average) after $5 in clicks. I started an ad yesterday, made a sale yesterday after about $7, but today i've gone through more than twice that on that product and haven't sold anything, i've lost all my profit from it. Time to cut and run or what? I don't know, the landing page is quite nice, well put together and professional like, and it seems like a perfect online bought product, just i've had a ton more clicks today compared to yesterday and no sales and roughly the same ad position, i don't know. What would you all do? Thanks for the advice!
It's really apples to oranges. You're indicating $5 in clicks is too much, our keywords...something like imprinted bic pens will run us $5 a click even with a good QS. How many clicks are we talking about, and how many clicks have you actually had? You need a larger sample than two days to make a decision. At $5 a day what do you really have to lose aside of $10 to give it two more full days?
You should really be running two adverts at the same time. When it's clear that one works better than the other, delete the bad one, and write a new challenger. This way, you'll be able to gradually improve your adverts over time, rather than constantly having to guess whether the current one is better or worse than the one you just got rid of.
What CustardMite said is great, but you can also try running about 3 ads, and make minor changes to the worst one to become like the best ad, but a bit different.