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How do you master AdWords?

I'm having trouble finding good keywords that don't cost an arm and a leg, and my ads are getting disabled. How have you 'mastered' your AdWords efforts?

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it is about finding a niche. I got example. My client selling sport thing wanted to target on "olympic games" issue. Word "olympics" was pretty expansive, but I found that people wrote many times "olimpics" with wrong letter "i" :-) So we bought this wrong word and found more than 100 customers

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