Google Inc. has announced the availability of AdWords Select, an updated version of the AdWords self-service advertising system with a number of new enhancements, including cost-per-click (CPC)-based
pricing. This pricing plan enables advertisers to pay only when their ads are clicked on by users. Google's Premium ads will continue to be priced on a CPM (cost-per-thousand impressions) basis.
Additionally, AdWords Select ads are ordered on Google search results pages in a new way. Unlike cost-per-click services, the top advertisement position (located to the right of Google's search
results) is not automatically granted to the advertiser willing to pay the highest price. AdWords Select ranking is determined by a combination of ad performance (click-thru rate) and how much an
advertiser agrees to pay per click. This advertisement ranking method ensures that users see the most relevant ads first. Google's unbiased search results continue to be produced through a fully
automated process and are unaffected by payment.