1. AdWords: Google make billions of dollars every year from the AdWords-AdSense combo. Why is that? Because they work. Adwords is probably the most efficient method to generated raw traffic for your website. In order to get started you should create an account, add lots (by lots I mean hundreds if not thousands) of keywords that are related your site and set the maximum Pay-per-Click rate at $0.01. After that raise the rate by $0.01 every week or so until you start getting the desired amount of daily clicks. Notice that at lower bids the keywords will be reported as “Inactive for Search”. Do not worry about it, it just means that your ads will not appear on the search network (Google’s search results), but they will appear on the content network (websites of people that use AdSense).
2. Site-Specific AdWords: if you pay attention to the AdSense units you will see that most of them have a link titled “Advertise on this site”. This feature enables AdWords advertisers to create customized ads that will be displayed only on specific websites. Those ads work on a CPM (cost per 1000 impressions) rather than a CPC (cost per click) basis, but they can generate a good amount of very targeted traffic since you will be in control of where the ad will be displayed and of the message. You can get even better results if you use some creativity when designing the ads