Some potential reasons are you are in a competitive industry, you have other key phrases that have proven to convert, there's low search volume, and where you are searching (Google) from.
A smart approach would be to work your way to the top by generating affordable leads in a short amount of time with a small amount of budget by bidding on lower position, higher quality keywords. Then start to scale.
“My website is slow. How important is it to have a fast website and does that affect ads?”
If you are launching a new product, there are a few ideas to get it out there.
It's possible to target competitors beyond the basic competitor campaign (which is where we show an ad after someone searches for a competitor). We can do this using affinity & intent audiences (which are audiences of people who are frequently associated with the competitor's business).