There is now a new way to target relevant searches with Dynamic Search Ads that are cleverly generated from your own website.
Suited specifically to online businesses that have tens or hundreds of new listings or products that regularly change, keywords that you haven't previously considered or product availability that is in flux, Dynamic Search Ads generate ad text with a headline based on the search query and adds body text based on your most relevant landing page for that product.
Dynamic Ads enter Actions as normal but do not qualify if you already have an Ad in your Campaign that has a keyword-targeted phrase that was searched for.
The effectiveness of this type of Ad can be seen with a 5-10% increase in clicks and conversions due to the fact that customers are more likely to click on Ads that deliver text that is exactly what they have searched for. Some customers have even seen a 50% increase on conversions when using new Ad type.
For more information visit the Adwords Blog.