What is your daily budget set at? Also, how targeted are you KWs?

If you are going through $300 in an hour I am guessing that you are paying $2-3 per click trying to end up on the front page. Super competitive KWs are generally a bad idea unless you have the cash to burn and don't mind paying for your data.

My advice would be to drop your bid price down a bit, even if it does kick you off the front page. This way you can take some time to analyze your data. You can scale up after you know what converts.

Also look at some more targeted KWs that get between 2k-8k searches monthly instead of one or two that get 500k+. Google will decrease your first page bid once your campaign has an established CTR... always try to keep it above 1%. I had a campaign with a CTR of 6% and my first page bid went from $.75 to $.10 within a week.

Finally take a look at scheduling to see if you can limit the times your ad shows to peak time for wherever you are. This will help with increasing your CTR as well.

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