Position Matters. Your position in each auction is what determines the number of clicks you'll be able to generate. The #1 position generates significantly more clicks than even the #2 position so if you want to maximize the number of clicks you generate its critical to maintain the top position in the auction.

Campaign Under Delivery Risk. Its important to remember that if your bid is too low and results in a lower position in the auction, its possible that your campaign may not fully deliver meaning that you won't win enough clicks to even utilize your full budget.