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Now, when there's a particular conversion action that happens on a certain ad, the system can obviously link them up, but prior to the first conversion happening, how does the system know what goes with what, in order to present it to publishers?
So, once you create an ad, include your keywords (i think 20 is the limit), and establish an action. That's all you need to do...it's up to the publisher to find you and use your ads.
(I tried 'em, but took em off - lots of clicks, only a couple conversions)
I'm not seeing that either. I've got 3 campaigns, and 3 actions, which I can manage by clicking on the "Manage Actions" link. I don't see any place that particular actions get linked with particular campaigns. The new-campaign setup process does not prompt for creating an action.