You are paying for searches that never convert
The biggest leak hides in your search-term report: terms with plenty of clicks and zero orders. Each is money spent for nothing. The fix is to block them as negative keywords. Doing it once helps; doing it every week is what keeps ACoS down. See how to find negative keywords.
Your bids are higher than the keyword can support
A keyword that converts 1 in 30 clicks cannot carry the same bid as one that converts 1 in 6. Overbidding inflates ACoS fast. Trim bids on low-converting targets toward what their real conversion rate justifies — not a flat number.
You never set a break-even target
"Losing money" only has meaning relative to your margin. Your break-even ACoS is the margin left after product cost and fees; below it you profit, above it you lose. Work yours out on the break-even ACoS calculator, then aim every campaign below it.
The clicks land on a listing that does not convert
Ads can only do so much if the page they point to is weak. A poor main image, thin bullets or an uncompetitive price means you pay for clicks that bounce. Improving the listing lifts conversion, which lowers ACoS without touching a single bid. See listing health.
Stop the bleed automatically
Each fix above is simple; doing all of them every week across every campaign is the hard part. AIAdKing does it nightly — blocking wasted searches, trimming overbids, tuning dayparting — with a logged reason for every change and a preview before anything goes live. The goal is profit, not the lowest ACoS at any cost.