One of the paid search areas that Google has made huge improvements in is the Content Network. The content network gives an advertiser a chance to place ads on relevant websites associated to a client’s website. The way a content network is structured is by inputting keywords into Google’s Adwords interface in order to try to match those keywords to relevant content with Google’s network of websites.
In the past, we would try to group themes of 10-20 keywords together in hopes to target sites. We would usually end up with about 10 ad groups total. However, in our most recent findings targeting has been much better if we group only 2-4 keywords within each ad group. In this case you would create 20-40 ad groups. Overall we have found that less keywords within each ad group leads to better targeting and better conversions.

