I started a new campaign 4 days ago, and the CTR average for the last four days is 6%.....
there is NO competition for the only one keyword I am bidding on....
When it started it asked me $0.20 CPC, now it's down to $0.10........
the keyword is not profitable for me until it hits $0.02 CPC......
Does anyone have any idea how long it takes before Google says to themselves, hey the word has NO competition, a good CTR of 6% so why can't we give him a good price like $0.05 or less?
Please note that one's minimum bid is not related to how many or how few competitors there are for a given keyword.
Rather, minimum bid is the amount assigned to a given keyword as used in in your account, and based on its Quality Score.
There's lots of info in the AdWords Help Center on the subject of Quality Score, minimum bids, etc., for those who who'd like more detail.
AWA