Anyone wants a Google AdWords campaign that is scalable. Many factors go into making a campaign scalable but one of the most important things is to find the most portable keywords. While every account is different, there are three things to look at that matter no matter what your AdWords campaign structure is.
Profitable exact match keywords are the most reliable keywords because increasing the budget or bid will result in getting more of the same instead of variations of the same. The latter would be the case with broad match keywords for instance.
In order to find the most profitable keywords, start looking at all exact match keywords that converted or take the top 20 with the highest conversion rates if you are dealing with a large account. Then try to identify the keywords that would benefit most from an increase in bid or tailored ad creative.
Long Tail Keywords
Long tail keywords are typically considered as keywords with high chances of converting because they imply that the potential customer knows exactly what he or she is looking for and has a concrete purchase intention. However, be careful to differentiate window shoppers from actual buyers.
Look at conversion rate and the cost per conversion of your well performing long tail keywords and set up your bidding in a way that maximizes your reach. Ideally, you want to show up for all searches as long as it is profitable for you.
High Volume Keywords
The battle between getting high margins and lower volume versus high volume and low margins is typical for small business owners, startups and first time advertisers. The reason why Fortune 500 companies advertise with the goal to get volume is not because they have an unlimited budget. As a matter of fact, the budget is often planned to a T and limited per department meaning a relatively small portion of that chunk (< $3M) is then allocated to AdWords for instance.
The reason large companies want volume is because the payoff of being among the top three ads beats the higher margins of a lower volume. In other words, you sell so much more that the margin could also be $0.01 and it would still outweigh the profit of selling less but earning more per sale.
Note: Keep in mind that Google blocks accounts that start increasing their budget too quickly. Even companies with large budgets have to start small and raise their budget slowly over time. Some of the campaigns we created for the Olympic Games started already in late 2011 in order to raise the budget profitably to millions.