When starting a new pay per click campaign, there is no need to get into a bidding war with your competitors before you know how well your campaign converts. Rather, focus on very specific, long tail phrases that are likely to have less competition and a lower cost per click than the more general short tail phrases.
Additionally, don't start out with broad match phrases. Instead, start testing with exact and phrase matching on your keyword list. This will help your ads to only show up for highly relevant searches. Using only very specific phrases will give you a better idea of how your creative performs and how your landing pages convert without breaking the bank.
Once you have your ad copy and landing pages optimized based on your campaign data, then you can start including more broad phrases.
