Anatomy of an AdWords account
Holdren explains the hierarchy of campaigns, ad groups, keywords and ads, and how budget, bids and targeting flow through it. Mastering the structure is the precondition for controlling spend and relevance.

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Holdren explains the hierarchy of campaigns, ad groups, keywords and ads, and how budget, bids and targeting flow through it. Mastering the structure is the precondition for controlling spend and relevance.
Google ranks ads by a combination of bid and Quality Score, which reflects click-through rate, ad relevance and landing-page experience. Advertisers can pay less for higher positions by being more relevant, not just by bidding more.
Keyword match types, broad, phrase, exact and negative, determine which searches trigger an ad and are the main lever against wasted spend. Disciplined use of negatives is presented as central to profitable campaigns.