While you may have mastered the art of search targeting directly through the engines, building a targeting content network campaign can be an additional source of profit. By placing ads on 3rdparty sites you'll potentially reach an entirely new audience, allowing you to target potential customers that are browsing related sites. While the targeting methods on the content network are not quite a precise as exact search keyword targeting, you can find high value on-site placements that generate an impressive return on your marketing spend.
There are two main types of content network targeting: you can either select to place your ads on a chosen set of sites or let Google automatically match you to relevant sites based upon the keywords within your ad-group. Your ads can either be standard text ads or banner ads that meet the network's requirements (some animated ads and certain types of promotions may not be allowed). In general, bidding is done on either a standard CPC or CPM (cost per 1,000 impressions) basis, so you'll want to determine what your optimal campaign structure is.
Just as you can with the search network, it's possible to track conversions and ROI on content network campaigns. Within the content network reports, you can determine which placements are most profitable and can prioritize those settings, just as you would for keyword-level bids in the search network. Over time, you can place ads on priority sites and opt-out of low performing sites, providing you with a steady stream of targeted traffic from relevant 3rdparty network sites.
