An audit that lists spend, clicks, orders and return on ad spend has described an account rather than examined it. Every one of those figures is available on the first screen, and none of them answers the question somebody is actually asking, which is whether the money is working and where it is not.
The useful framing is narrower. Find the spend that produced nothing, establish why it is still running, and fix the reason rather than the symptom. Most accounts carry a surprising amount of it and almost none of it is there deliberately.
Search terms with spend and no orders, over a window long enough to mean something. This is the largest single pocket in most accounts and the easiest to fix, and it accumulates because nobody looks: a broad or automatic campaign keeps finding new terms, and each one is small enough individually to ignore.
Terms that convert into the wrong product. A click that buys something is not the same as a click that buys the thing it was advertising, and a campaign taking credit for sales of a cheaper variant is reporting a return it did not earn.
Placements, which are reported separately and rarely read. Top of search usually converts best and costs most, and a product where it does not is a product paying a premium for the worst placement it has.
Duplicate targeting, where the same term is bought in three campaigns and the account competes with itself. It shows as a rising cost per click that nobody can explain, because the competitor driving it is you.
Return on ad spend at account level, first and worst. It is an average of campaigns that are working and campaigns that are not, and the average moves when the mix moves, so it can improve while the account gets worse. The figure worth reading is per campaign and per term.
Attributed sales, because a campaign takes credit for a sale that organic would have made anyway. A brand defence campaign bidding on your own name looks superb and is often buying traffic that was already yours. That does not always mean stopping it, but it means reading it differently.
Performance marketing beyond PPC covers that in full.
Impressions and click through rate, which describe the advertisement rather than the business. A campaign with a superb click through rate and no orders has an excellent advertisement pointed at a listing that does not convert, which is not an advertising problem:
a campaign that spends without converting is almost always the page.
Start with total advertising cost of sales for the account against the same figure a quarter ago, because the direction tells you whether this is a leak or a level. Then break the spend into three: terms that produced orders, terms that produced clicks and no orders, and terms that produced neither.
The third group is a targeting problem and is usually harmless in cost. The second is the money. Work down it by spend, and for each one decide whether the term is wrong for the product or the product is wrong for the term, because the fixes are opposite: a negative keyword against the first, a listing change against the second.
Then check the structure, because most persistent waste is structural rather than a bad keyword. Duplicate targeting, budgets capping the campaigns that work while the ones that do not run free, and automatic campaigns with no negatives harvesting into nothing.
How automatic and manual campaigns work together is the shape that should be there.
The negatives, because they are reversible, immediate and cost nothing to get slightly wrong. Then the budget allocation, moving money from campaigns buying clicks to campaigns buying orders rather than cutting proportionally, which takes the same percentage from the best performer as from the worst.
Bids last, and gently. Bid changes take time to show and it is easy to attribute a seasonal movement to a change made the same week, which is how accounts end up with a bid strategy nobody can explain.
One change at a time, with a fortnight between, on any account with normal volume. An audit that produces forty changes in one afternoon produces an account nobody can reason about a month later, and reasoning about it is the whole point. That discipline is most of what
Amazon advertising management consists of week to week.
Monthly for the search terms, because that is where waste accumulates continuously rather than in events. A broad campaign finds new terms every week and each one is small enough to ignore individually, which is exactly how a large number becomes invisible.
Quarterly for the structure, because campaign architecture only goes wrong when something is added: a new product, a new campaign type, a launch that was meant to be temporary and is still running. Between those, structure does not drift on its own.
Immediately after any of three events. A launch, because launch campaigns are built to spend and are rarely turned down afterwards. A price change, because it moves conversion and therefore moves what every bid is worth. And a stockout, because campaigns kept running against an unavailable product spend against nothing and the spend is invisible in an aggregate report.
What is not worth doing is auditing weekly. The data does not settle that fast, and an account audited faster than it can produce a signal ends up being managed on noise, which is a more expensive habit than the waste it was looking for.
If any of the numbers this audit asks for are unfamiliar,
how Amazon pay per click works sets out what each of them is measuring before you go looking for waste in it.