If I were in this situation, the first thing I’d do is change the keyword match type to Broad Match if I was previously using Phrase or Exact. I’d pair it with a Max Conversions bidding strategy and add strong negative keywords. This usually helps Google find cheaper traffic and reduces the overall CPC.

The second thing I’d check is the landing page quality. Many times ads are running with an unoptimized or irrelevant landing page, and that pushes the Quality Score down, which directly increases CPC. Quality Score depends on factors like ad relevance, landing page experience, and expected CTR, so I’d make sure the ad copy, keywords, and landing page are all aligned.