In PPC, every decision is a gamble.
When you decide on a course of action, you’re betting that your decision will pay off.
It might work, or it might not work.
You don’t know in advance.
You CAN’T know in advance.
You have to test.
You have to take a chance.
As with all bets, you must put some “chips on the table” for a chance to “win the pot.”
The trick to making good decisions over the long term is to consistently try to maximize your payoff and minimize losing what you put at risk.
In other words, don’t “bet the total monthly budget” on a long shot that is highly unlikely to pay off.
Instead, make lots of small bets that have the potential of paying off big.
Placing small bets on new products, new keywords, and new audiences.
That’s how you grow your PPC accounts.
– Nils