A budget that is too low doesn't offer enough data to see what's working and what's not. Read and find out what the ideal monthly start up should be here.
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.
What can we do to reduce our CPC?
Technically, you’ll start to see results right away; however, it takes about 90 days for a campaign to “normalize” to the point of understanding how it will perform long-term.
Is there a point where it can run on auto-pilot, or is it dynamic, changing & adjusting forevermore?