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I think with PPC (at leave Adsense) you can create self-competition. There are keywords that I take a break from and come back to to find only a low half-dollar bid, but as soon as I've added it to my campaign for a few days, the bid jumps to $10. I can't imagine how something unstable as that can work for me.
SEO is more stable and if you keep up, gives better returns, at least in my experience.
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