After all, writes Michie, "Why would a company keep spending money when the ROI turns south? 'By golly, we're going to spend this last $10K even if it doesn't generate a sale!'"
On the other hand, "Why would a company stop spending money when the ROI is good? 'I know that every time I give you $10 you'll hand me back $11, but I can only spend so much...'Neither of these statements make any sense to us."
The one exception to the no-budget rule: companies with "some component of branding" in their search campaigns."The more divorced the goals are from profits the more budgets make sense."