PPC is ok as long as it's not just a one word click that you're trying to purchase. The word "HOSTING" on google is quite expensive - I believe WHIR puts it at the $50.00 mark as the value of the word.
Instead, going for a 2 or 3 word target is a much better investment. Just like in SEO, it's easier to rank for 3 words than it is for 1!
As for out of price range - you can pick up combinations for $0.10-0.20 per click if you use the right words and target market. The challenge you have to accomplish is your conversion. We often purchase $7-8.00 clicks on google, but we convert them too. It's no differnet than roulette
Pick 8 numbers on the roulete table and put a dollar on each. You start with a total investment of $40.00. You have 5 spins to make your money back with an 8 in 37 (or 38) chance of hitting your number. The payout is 35:1. So your $1.00 just made you $35 *IF* you hit your number on or before your 5th spin.
So the same approach is taken in advertising for us. Our goal is not to convert EVERY customer, but rather 1 in 4 with our package of $36.95/month. As long as 1 person buys, our investment in the advertising was covered. If two buy, that's profit (and lets not forget about the recurring revenue.
Advertising (and business) is a gamble, always was, always will be. You have to be willing to put it on the line and invest in what you believe is a good investment, but you must also have the conversion plan in place with effective copy.