Reddit mentions of Advanced Google AdWords

I would try PPC first to make sure they keywords are worth the effort. Best reference: http://www.amazon.com/Advanced-Google-AdWords-Brad-Geddes/dp/0470500239

Otherwise, to get links you should use linkbait. Use your imagination; how do you get the hordes to link to you? Infographics, catchy stuff, a useful resource, etc. Here's the best beginner's guide if you've never read it, it's the basics though: http://www.seomoz.org/beginners-guide-to-seo

No problem. Just be careful that you won't be taking too many clicks away. If the client is used to seeing X number of clicks a month, and all of a sudden this month it's X-400, you might have some explaining to do.

You really should be focusing on getting the right kinds of clicks though. Do you have AdWords synced up with Analytics? If you do this, you can see which terms are actually providing ROI for your client. At this point, you can make the case that while clicks are diminishing, you're freeing up more budget to get clicks from terms with better conversion rates.

While I learned most of this on the job, I highly recommend this book: Advanced Google Adwords