Very helpful, thank you. I've only been using AdWords (after years of just simply being terrified to dive in!) for a few months now and am learning more every day. It's actually quite fascinating and one needn't fear the budget issue as I did for so long. I was so terrified I'd find myself in over my head in costs with little ROI, but Google helps you every step of the way to stay within any budget you desire. There's a lot to learn, yes, but I think there can be a lot to gain if you're willing to be patient, learn the ropes and work with their system!
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