We're considering pay-per-click advertising to bring traffic to our website. How should we go about determining how much to budget? Any other considerations we should be aware of?
Your budget is not really not most important thing when it comes to PPC. While a budget sets a cap on the amount you can spend the real question should be on how well your ads work with the pages they point to.
A well optimized page and ad is worth its weight in gold.
Just remember ad campaigns are not instant revenue most of the time. They are like all advertising, the more impressions to the same people the more trust.
Your budget needs to be a budget that you can run an ad campaign on for a long time. only you know how much you can afford.