I did some PPC SE adwords a while back and a bit of what i found is below.
target your ads as precise as possible, since you pay per click make sure the surfer knows that they will need to pay out some money on the other side of that link. If they are still interested they'll click and hopefully you'll be good enough to sell them. If google terminates your campaign because your CTR was too low just start another one.
target mistypes they have a lower bid in most cases and still get clicks
target specific program names, they know what they want but for whatever reason don't type it in the URL
target webmasters, they've spent more money on the internet then most surfers ever will. replace the words "free porn" with "free cash" and watch your referred affiliates jump.
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