Everyone is going to have their own ways and means for this -- but here's a few ideas to chuck into the mix...
- Try not to concentrate on page views. A campaign is much easier to optimise if you have tight integration from Adwords to Analytics and you can easily view which keywords are leading to Goal Conversions, and which aren't. If for example you can see that 15% of your ad spend is going on keywords that are either never converting to a goal, or are hardly ever converting to a goal, put all these keywords on Pause and you've just taken one quick and effective step of controlling your spend.
- Remove ads from the content network, leave it for a month, and see if you get better ROI. Almost universally, I've found that this helps the bottom line.
- Look for any broad match keywords that are getting a lot of impressions, but very few clicks. Run phrase and exact matches for the same keyword for no less than a month and see what works better. Rinse and repeat.
- Consider restructuring the Ad Group hierarchy. A lot of campaigns will tend to structure ad groups "from the business end", i.e. they'll be broken down into product lines or service areas offered by the company. This often isn't the best way to do it -- try using multiple ad groups for a product or service that are split by keyword sets, geographical locations, etc. The idea here is to make sure that if a user searches for 'widgets' they are returned an ad with 'widgets' in the headline and description; likewise if they search 'wodgets' or 'wadgets' then if those exact keywords are in the ad copy, you stand to get a higher CTR.
- This kind of feeds into the above point -- but one of the best ways of getting insight into how your campaign can be tweaked is to put yourself in the mind of a customer. Sounds bloody obvious, but there'll be a lot you can learn from looking at how your competition are treating the same online space. Likewise, where does a user arrive when they click on an ad -- can anything be done to change there initial experience of the site? What sort of bouncerate do you get from Adwords visits? A bad client/boss says "make adwords perform better." A good client/boss says "work with my dev team and make adwords more effective."
Strictly my two cents worth... as I say, we all have our own methods and ideas about doing this. In many ways, a client with budgetary hands tied (i.e. who can't increase ad spend at all) can be a frustrating one to work for, but that's where the challenge is -- anyone can chuck more money at a problem and get better results, but to get better results by creating a lean and tight ad campaign is where skill lies. (I think!)
Good luck and don't forget to report back and tell us how you went
