Advice needed

Confused about poor performance

[badass101]

Let me just start by saying I'm no expert with Adwords. In fact, I'm pretty novice.
However, every Adwords campaign I've run in the past has worked well for me and produced a decent ROI.

I've just launched a new e-commerce site and have started an Adwords campaign to drive a bit of traffic.
The campaign contains quite a few different 'product targetted' ads - ads whose keywords and copy and product specific and the landing page is the product page in the shopping cart.

I've set a campaign budget at £3.00 per day for the first month, due to other advertising costs, which brings me in-line with my business plan.

My CPC on most keywords was £0.03.
I know that these keywords, and variations of them, get searched well on Google, but my impressions suck.

To counter this, I tried raising my CTR to £0.15 but the impressions didn't increase, and the CPC stayed low.

I'm not getting near my £3.00 budget at all. I was hoping to be hitting it and needing to increase it. At the moment we're just testing the water and don't want to throw a ton of money on Adwords..

However, using the tools on the Adwords page recommended that on some of the keywords we should be bidding around £2.00 per click with a budget of £80 per day for max exposure.

What should we do? Try and find cheap keywords, or up the bids and budgets on more 'general' terms to try and get some traffic moving?
I'm just confused as to why we haven't maxed out our budget at the moment.

Please help, I think I'm missing something!

[Turkish]

If I remember correctly the current minimum bid for keywords on adwords stands at 5 cents. You said that your currently bidding 3. Other than that I would recommend that you increase your daily budgets slightly, which will increase the impressions figures which should then lead to some clicks on the ads.

[poster_boy]

The lowest minimum CPC is actually $0.01, but certain keywords require a much higher minimum CPC than that. If you're bidding on high volume keywords with a very low CPC, you're likely getting significantly beaten in the bidding war by your competitors. You must either bid on much more targeted keywords, or you need to work on building your CTR... it doesn't sound like your current keyword mix or price that you can afford is a formula for success.

[BluBay]

I think your daily budget is too low, dont bother with the low cost KW as the reason they are low cost is because they have little or no search volume. My advise would be to bid on popular terms for your product and bid a little higher than you normally do, set your daily budget to 'unlimited' and monitor your account and pause when you feel you have spent the most you can afford. . .

[badass101]

Ok...

I changed some of my bidding the other day to a much higher CPC and I upped my budget.
However, I'm still not even hitting my budget and my ad's aren't serving much.

Here is one example on a popular search phrase, without many advertisers:

On my adwords keywords I have the following:
"widget uk"
widget uk

I go into Google (2 days after this is live) and seach for:
widget uk reseller

And my competitors come up (2 adverts) but mine didn't show. Why?
The keywords are not inactive for search, and the ad isn't disapproved.

Do new keywords/ads need manual approval?