How do I get started in SEM with no actual experience in it? I want to do some Lead Gen for other businesses.

Let's take the example of a single keyword, which we aren't sure how it'll perform. We'll need to make a few more assumptions to get started. Hopefully, you can produce these based on similar activity in the account, or on your site. You'll need an Average Order Value assumption first. If you're targeting a specific product, that product's price is a reasonable place to start. We'll assume $150. You'll also need a Conversion Rate. You can either use data from a similar campaign, or your site's average. Don't worry--it can be a ballpark, as this will correct course quickly enough. We'll assume 3%. You'll need to know how much you're willing to pay for advertising, as a percent of revenue. Too high, and your margin erodes. Too low, and you give up market share. This figure is called your Cost Of Sale (COS), and is just the reciprocal of your ROI target. Let's assume you're looking to spend no more than 15% of revenue for these ads. Now, with the COS and the AOV, you can arrive at a Cost Per Acquisition (CPA) target. This is how many dollars you can spend per conversion. In our case, it's $150 * 15% = $22.50. That's how much we can spend to generate the clicks it takes to produce a conversion. If we have the Conversion Rate, then we know how many clicks (on average) that takes. At 3% conversion rate, we average an order for every ~33 clicks, so the $22.50 is all we can pay for them and still hit our goal. That's $0.68 per click, and that makes for a GREAT starting point. But how do you know when to give up? You can use Wolfram|Alpha to find out how many clicks it would take to get to 95% probability of a conversion: http://www.wolframalpha.com/input/?i=%281+-+.03%29%5Ex+%3D+%281+-+.95%29 The .03 is our conversion rate, and the .95 is the certainty we'd like to hit. This solves to ~98 clicks, so we'll run our test to at least that many. If you get a conversion sooner than that (with some sort of upper bound), you can bid based on the real conversion rate. For example, if you got a conversion after 25 clicks, you can bid using that 4% number. If that's actually too high, you'll have collected the additional clicks to know that fairly quickly, so it turns itself back down before it spends very much. If you aren't getting a conversion, you can also bid as if you had only one. If you are at 90 clicks, for example, and still haven't seen a conversion, you could bid as if you had one, bid using the 1.11% rate, and your bid will be cautious, skeptical even, and your spend will be controlled. Now, this was all for a single biddable entity, perhaps a keyword. What I'd recommend is to keep your long-tail keywords separate from your higher-action keywords, in different AdGroups. As you sift out higher-performers, move them to the main group. Slower-action keywords can stay in the long-tail. You may not even need to bid at the keyword level, if you use this strategy, as you can apply exactly the same logic to the AdGroup level. If the entire Group is a new test, then this will accumulate clicks more rapidly, and reduce costs. Now, how ever broad you go will set how much risk you're taking on. If you have one keyword, like this example, you're probably only going to spend about $50. If you do that thousands of times, then that number goes up with it. If you'd like to talk through this, I'd be happy to do so. My VIP link is: https://clarity.fm/roysteves/statbid

The way we usually do it it: Objective A,B,C. Action A, Result A, Action B, Result B. You want to make sure you're clear about your objectives and the client knows what success will look like weeks/months from now. Simple Headers and bullet-points are enough. This is a good example of really simple and useful document - http://webmeup.com/downloads/seo-checklist.pdf Also, don't forget about some conclusions, where you basically just wrap up everything, in case the client isn't patient enough to read the whole document. Good luck!

Technically you can bid on competitors. Take for example Autotrader who bids for keywords such as Honda, Ford, etc. But the best advice is actually here http://searchengineland.com/the-complete-guide-to-bidding-on-competitor-brand-names-trademarked-terms-118576

We have an overlapping but non-competing interest in this area. What I'd recommend is ... skip the books or guides on Google AdWords or the Bing equivalent. You've already read enough, and your question is framed with enough specific detail that you're obviously no slouch and probably past the beginner stage, I'd say. Reading guides would provide steadily diminishing returns. DIY time! Brainstorm keyword ideas. Research the search stats. Once you feel you've covered all the relevant search queries and prioritized them, then it's time to run experiments. That's why I say skip the books. At a certain stage, you have to leave biology textbooks behind and go dissect some frogs or observe the live frogs (your customers?) in nature. Nothing is more empirical than running an efficient SEM campaign. You know this. Rules are starting points to b left behind in this space. Books and guides might provide some preliminary tips (at best) or be authoritarian (at worst). Just arrange your spending alternatives as hypotheses. Measure which strategy performs better using some carefully planned A/B testing over a statistically significant period of time / impressions / clicks. Set aside the generalizations. No author will give you what you need because you're already thinking of your problem at a granular level of detail. Brainstorm. Plan tests. Measure. Rinse & repeat. If you want to put 2 heads together, I might be able to throw out some extra ideas. But you don't necessarily need another person.

I can discuss having done indepth research before we select Marin software