Well it's hard to say exactly what went wrong but I'll give you some important tips that may help.
1) It can take 100 - 200 clicks to get a sale in many affiliate programs.
You split up your efforts and had to stop too soon.
2) PPC takes TESTING, TRIAL and ERROR. It's much easier to do when you are new if you concentrate on ONE product or primary keyword.
3) You need LOTS of long tail or 3,4,5 word related phrases to be able to get enough clicks and get lower KW costs. If you were mainly bidding on the most obvious 2 word phrases you paid way too much per click to be profitable.
HOW MANY KEY PHRASES did you have for each campaign???
DID YOU INCLUDE THE MONEY WORDS that signify people are ready to buy and not just searching for random info? Buy golf clubs, best prices golf clubs...
4) You need to use negative KW to eliminate people who are clickers but not buyers. Example you promote XYZ software negative KW may be "free, ree trial, cheat, warez, crack" for people who don't want to buy but ware just trying to get a freebie.
5) You also need an affiliate program that you know converts well, tracks well and pays. Sometimes you can't tell these things up front and you need to test.
6) In order to test and learn you need some gambling money that you can afford to lost.
7) You Also MAY VERY WELL NEED to study and learn more about PPC before trying it again.
Those are just a few points off the top of my head
BUT I am NOT an Adwords expert and don't play the PPC game for profit.
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Your Partner in Success,
Linda Buquet :: Affiliate Program Advertising, Promotion & PR (Publisher Relations)
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