Split Testing and Current Analysis

OK, so two things. First, for PPC (specifically for Bing Ads), what exactly is split testing....and what parameters might I go about testing and tweaking for a PPC campaign? I don't need a complete answer, but something to help me get started testing my campaign.

Speaking of my campaign, here's my current analysis (without specifics of course), if you see any red flags, I would greatly appreciate the notification:
Ads: 1
Keywords: 23
Current sales: 0
Impressions: 1111
Clicks 77
Bid max: .75 usd
Bid min: .50 usd
Bid mode: .50 usd (20/23 keywords has this bid)
CTR: 2.43%
Most viewed keyword has 44 clicks out of the 77.

This IS a direct link, to the landing page of the clickbank product I'm promoting. I DO trust that this is a good landing page, but I suspect I'll have to create some kind of funnel to help with conversions..but I'd honestly like to do everything i can to learn how to appropriately split test because I want to learn the ins and outs of how people think in PPC before I start adding stuff that's going to take a lot of my time.

Again, any help is appreciated!

Split testing basically means that you are testing two things to see which has the better results. In PPC, typically you split test two ads to see which gets a higher click rate since that's a main goal. I test for conversions too. You could test different bids and see where that places you and the resulting CPC. Note however that you need to take into account other factors. Others are changing bids too and testing different ads and many other things.

You are not split testing. You have just one ad, if I read your stats correctly. I hope you are segmenting those keywords properly, each in their own group. Are you aware of the different keyword match types and how they work? No sales in 77 clicks is not indicative of anything, at least not without much more information. It could be poor keyword choice, maybe you have all in one group when they should be split off in different groups, it could be a poor sales message on your landing page.

You don't mention average position or your QS. You don't mention if this is search (likely is) and if you're using search partners or even a clue of the niche. For all I know, you may be mixing search and display. So the numbers you provide mean very little on the surface without digging deeper. That's what split testing is all about with emphasis on testing.

I understand. The information you provided was very useful, thanks a lot! I do only have one ad group (I didn't tell my niche, because I really don't want this one saturated, I feel like it's a really good one), and the keywords were not segmented...I will try to do this.

The QS and stuff like that I need to figure out but my average position for the keywords I had chosen was 2.6, which I thought wasn't too bad for the new set-up. As far as I know, this is low competition, but as a result, some of the volume was very low too, which I planned on "cleaning" those keywords out. I'm still learning about negative keywords and how to use them. Also, most of my matches were broad, I think I had maybe one or 2 of them exact but no other choices, I'm not entirely sure of the differences yet, but I plan to take the time out and learn the differences.

I guess if I was to give a hint of the niche, it would probably be animals, but idk if that's helpful or not lol. This does give me something to go off of and gives me next steps to test. Thanks a lot!