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I Was Told That Google AdWords Was Nothing but Just a Waste of Money, Is it Right?

I was told by one of my friends that the Google AdWords was just a waste of time, however on the other hand, i searched on internet and they are saying that it will something that can make or break your business, what you would say?
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>>>But overdoing SEO can be detrimental to company's representation on the Web which can lead to devastating results in customer acquisition

Hi, interesting comment Bill, can you explain more?
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>>Google Adwords is always good for SEO, just not always worth what you are paying.

>>The mention of "too much SEO" refers to onsite SEO and gray/blackhat SEO techniques.

So do you think an organic content-driven strategy is best?
Absolutely. Your bounce rate will testify this even if you increase your Google Adword budget
Yes, I do this intensively but, save for being in a micro-niche,  there WILL ALWAYS be a competitor with money to blow on Ad Words who will get ahead of you!
Yup, that is true offline too
In order to get the best from SEM/PPC/AdWords, you need to pay attention to these three factors:
•      Expertise
•      Experience
•      Effort

In point of fact, you need the expertise, a little bit of experience, and lots of effort to be able to produce an effective and successful PPC results.  Most businesses that fail with PPC usually lack in at least two of these factors.
Very sound advice Ruby - I think "P" could be added to that list also.

The importance of pivoting your PPC if it's not working out is also crucial. Some people have the attitude of "Let's move on" and abandon PPC without finding out the root-cause why results were less than optimal.
There is no verifiable way to calculate ROI or CPA, or even if you could it would be prohibitively expensive. Also unlike old fashioned magazines, trade magazine etc. you really can not target specific demographics, lets say mechanical engineers, or software codes in accounting software.