Nowadays no webmaster would argue against the value of Google's AdWords program for drawing traffic quickly. What many people don't know is that to profit off of AdWords you don't even need a website. Since AdWords allows you to link directly to affiliate sites you can harness the power of ClickBank publishers to promote and gain revenue for their sales.
ClickBank has many programs with higher than normal commissions. This is beneficial as you do have to pay Google for incoming clicks but making one sale would more than pay off for your traffic and turn a profit … if you're smart.
So how do you get smart ….
First you need to find a product on ClickBank to promote. Start with one and grow from there. Do some research and find some good keywords related to the product you want to promote. While you're at it, write a few descriptions for your AdWords ad.
Now, using your AdWords account, put up two to three variations of your product ads. Go for the lesser competitive keywords, they're cheaper and if you choose right will bring in the same amount, or more clicks for less money.
Keep checking your AdWords account at least daily. Push the more popular ads more, deactivate the ones that don't seem to generate enough impressions and clicks or simply tweak them.
If all goes well and you've done your homework you should start making sales, which means commissions. Keep a close eye on your spending on AdWords and keep your ads in top position. The Google keyword analyzer tool is invaluable for this. As long as you're making more on your commissions than what you spend on AdWords you're off to a good start. What I've done is use a cashback debit card for my AdWords account as I get some money back from my ad spending. Paypal debit cards work great for this purpose. There may be others out there but I'm not a fan of paying credit card interest so thats why I keep everything on the Paypal card.
Expand to different products as soon as your first one becomes profitable for over a week of promotion. Building more diversity will help you cover more ground and will equal more profit if you can keep your winning combination.