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I am very confused about the AdWords daily budget.
I used the Traffic Estimator tool to help me determine the daily budget & max CPC. When using the tool, I left those fields blank so that I could see the max.
I setup the campaigns with those max variables, and I have yet to see any impressions.
How do I explain this very confusing situation to my client?
1) Don't set your daily budget higher than you can afford to spend/lose. G may even go slightly over it. And you need to get a handle on how things work by starting with a small budget and increasing it slowly as you get it tuned and more cost-effective.
2) Traffic is strange at the time of year. People are maybe sleeping off NY hangovers rather than surfing.
3) Ads have to be manually approved before they go live for most purposes. There are not a lot of G staff on duty at the moment IMHO, and you can bet there is a HUGE backlog waiting to be dealt with for when they do get back. If you are desperate for some action, send a polite non-whining email to AW support late-ish tomorrow asking them if, as this is your first time, they'd give reviewing your ads a little more priority than usual...
Hoever, if I had ever got clode to bidding the suggested maximum bids, then I would expect to see some traffic almost immediately - unless there is a problem.
Have you confirmed that you have the correct URL for the landing page?
Maybe there is something about the Ad, KeyWord or landing page that requires some action (e.g. a manual review of some sort) before it is cleared.