Keyword research is incredibly important when setting up a google Adwords campaign. Most SEO experts can discover your products/niche/industry high value keywords in a few minutes without having to use the adwords keyword finder tool. A few simple google searches and source code competitor analysis will provide all the insight one needs.
At JumpSearch, when creating an adwords campaign we pull the high value target keywords, begin compiling a list of long tail keywords and doing CPC and search volume analysis of our keywords. Once we have our keyword list discovered and budget/campaign/adgroup and ads created we will add our keywords. We have found many clients make the mistake when adding keywords they choose broad match when inputting their keywords and the majority of their budget goes to non value keywords. Sadly, google will make broad match the default set up. This will lead to many clients using broad match setting for their campaigns not knowing the effect this has on their spend. If the majority of clicks are going to broad match keyword search terms it will likely have a very negative effect on your campaign – unless your campaigns focus is branding as oppose to bringing in leads. If you do have an active broad match campaign, check your search terms and clicks to discover which broadly related terms your ads are showing for. After, cross reference this with your bounce rates – likely to be high!
The best way to begin a Google Adwords campaign is doing an exact match selection when inputting your longtail keywords to ensure all of your ads are showing with max bids on the keywords you complied prior to setting up the campaign. Create multiple ads and landing pages for each of the keywords and review your analytics and adjust accordingly as your campaign matures.
By sticking to an exact match Google Adwords campaigns you will not lose your shirt and get the high value clicks that your brand deserves!