So my site features specific household brand names; individual pages for specific brands. Let's say I do a Google search with the brand name in the query, my page will come up in the organic results. I have 2 ads on that page. The specific brand the entire page is about is an Adwords advertiser, but 9/10 times, their ad only shows after about 5 impressions of useless semi-related ads. So I am missing out of clicks - as is Google. Sure I understand that the ads that show up are supposed to be the highest paying advertiser, but I actually don't believe that is how the ads are showing up all the time anymore. And I always clear cookies/cache so it's not a retargeting issue. It's so frustrating to see the best ads so many impression deep in the click cycle.
I believe it's not only about context and rotation, it also involves some weird algo calculating what's paying, because G gets money from working clicks not just clicks (just as we all) so they supposedly seek the best performing stuff for your content... funny becuase the overall feeling around adsense seems to be low performance lately