With PPC you decide who should see the ad and how much you are willing to pay for a visit. Until someone clicks, you pay nothing. The click price is set in an auction between advertisers.
The advantage over other channels
You see results the same day and every euro can be traced to an order. A campaign can be paused, adjusted or have its budget moved to what works at any time.
Where money gets wasted
Keywords that are too broad, missing negatives, ads pointing to the homepage and tracking that does not see real conversions. Then the campaign optimises for clicks, not profit.

