This is the 14 th post in the SEM Intermediate Series , a collection of posts intended for search engine marketing professionals looking for guidance in monitoring and adjusting the key performance indicators (KPIs) that determine the success of a PPC campaign. This series is a continuation of the SEM Beginner Series . If you haven't already read the SEM Beginner Series on dynamic text , dynamic text is a word, phrase or other information that is inserted into ad copy.