Google AdWords is one of the best methods to attract targeted visitors to your online business. Instead of spending thousands of dollars and waiting months to possibly get listed in the organic search engine results (the listings on the left) your ad can be displayed immediately on the first page.

Here are 10 tips for creating a profitable AdWords Campaign

1. Use a variety of keyword research tools

Instead of using the AdWords Keyword Tool that everyone else uses include other tools such as WordTracker, Keyword Discovery, WordPot and Thesaurus. Look for related keywords and misspellings. Often you can find keywords that no one else is using for their AdWords campaigns.

2. Use the right keywords in your ad

When bidding on a particular keyword make sure you include it in the title and body of your ad. It will get bolded making it stand out amongst competing ads.

3. Create different ad groups

Don't place all your keywords in one ad group unless they are all closely related. Your ad group should be tightly targeted with your ad. For example "italian red shoes" should be placed in one ad group and  "fashionable red shoes" placed in another.

4. Split test your ads

Write 2 ads for your ad group and have them rotate evenly to see which one receives the most clicks. If one ad is not performing well, delete or pause it and write a slightly different one. Keep doing this to increase your CTR (click through rate). A high CTR will increase your conversions so you make more sales.

5. Turn off Content Targeting

Only show your ads on Google search, Search Partners, Desktop and laptop computers unless you're an AdWords expert. Turn off the other options such as content targeting. This will stop you spending a lot of money and generate specific data related to your ads.

6. Set a daily budget for your keywords

Calculate how much you wish to spend per day and per month. This will stop you from overspending. For example if you set your daily budget at $5.00 you'll spend $150/month.

7. Set the maximum cost per click (CPC) for your keywords

Use the Google Keyword Tool to view the average CPC for your keywords. Bid above it if you want to be listed in the number 1 position on the page. Bid lower if you want a lower position. Remember you can always adjust your bids after setting up your campaign. Also don't believe what Google suggests as often their suggestions are incorrect. Take charge of your campaign.

8. Track your keywords

You need to know what keywords triggered your conversions. I use AdTrackz to track all my keywords. It only takes a few minutes to set-up and you can view the results for each campaign. For tracking your landing pages or web site use Google Analytics. It's a free tool offered by Google that tracks traffic, conversions and ROI (return on investment).

9. Track conversions

The standard conversion rate is 1%. This means one sale per 100 clicks. For example if your CPC is 30 cents, 100 clicks will cost you $30.00. Always work to improve your conversion rate.

10. Analyze and tweak campaigns for maximum conversions

After letting your campaign run for a day or 2, analyze the data, then adjust your bids, write a a new ad or try alternative keywords to improve your click through rate (CTR) and conversions.

If you're starting out with Google AdWords, it may take several campaigns before you find a profitable one. The key is to try different products by setting up a campaign for each one then pausing or deleting those that aren't profitable.