You are right

howiejs,

We will insert the most relevant keyword from your Ad Group into the creative, space permitting. The deliver of your ad on the content network is determined by the overall theme of your Ad Group, but the system will select the most relevant term within the Ad Group for insertion. It will also use that keywords maximum CPC and destination URL settings as well.

AWA2

AWA2,

If the most relevant keyword is always selected, how come we cannot get stats per keyword for content match? Everything seems aggregated into stats per adgroup even if we do a keyword report. Is there any way to get clicks, costs etc. per keyword for content match?

If we have defined a specific content match max cpc on the adgroup level, is the keyword max cpc then still used for content clicks?

I wish ad stats were stratified as well. Running content masks the stats that are most important - ad ctr on the search network ONLY.

Thanks AWA2 - I appreciate your reply:

"We will insert the most relevant keyword from your Ad Group into the creative, space permitting."

If the number of characters doesn't "fit"
will the default text be included:
{KeyWord:Default Text}

"The deliver of your ad on the content network is determined by the overall theme of your Ad Group, but the system will select the most relevant term within the Ad Group for insertion. It will also use that keywords maximum CPC and destination URL settings as well."

Interesting I didn't realize that the CPC of the closest keyword is run.

peer_esv,

Because the ad is delivered on the content network based on that overall Ad Group theme, the individual keywords themselves aren't as particularly important as they are on search. As a result, we show stats at an Ad Group aggregate level. Associating the actual impression to a specific keyword allows us to fine tune delivery for the actual placement, as well as take advantage of those keyword level settings that should lead to a better user experience and advertiser conversion rate.

Using separate content bids will override any keyword level CPC setting, but the URL usage and keyword insertion still applies.

Currently, there are no AdWords reports that break content traffic out at the keyword level.

howiejs,

If the keyword would exceed the character limits, then we will use the default ad text.

AWA2