Bidding Strategy for LinkedIn Ads : 7 Golden Rules to keep in mind
What should be my bidding strategy for LinkedIn Ads? How much should I bid on LinkedIn Ads? Let's try to answer this question?
Always go in for Manual CPC Bidding. Never go in for Automated Bidding (which is another name of Bidding by Impressions) or CPM Bidding . Also always deselect the box for Enhanced CPC.
Now another question that comes up is - What should be your bids
Select the minimum bid possible to run LinkedIn Ads whether it's 3 dollars or 4 dollars or 5 dollars. LinkedIn would tell you what is the minimum bid required. Select that minimum bid.
Only increase the bid if you are not able to spend your total budget for the day
Now if your CTR (Click Through Rate) >1% then change the Manual CPC to CPM or Automated Bidding and when you are switching back to CPM, bid high in that case
Now over a period of 4-5 days , you will see that the CTR again goes below 1 % , the average frequency metric (the number of times a user would see your ad) would start rising above 2 which is indicating saturation, so when the CTR goes below 1 % switch that CPM again back to Manual CPC
Never accept LinkedIn Recommendation of suggested bid or what other advertisers are bidding.
So here are the 7 Golden Rules for Bidding on LinkedIn Ads :
1. Always go in for Manual CPC bidding
2. Never go in for CPM or automated bidding
3. Never Click the box for Enhanced CPC
4. Always start with the minimum bid required to run your ads
5. Only increase your bids if you are not able to spend your total budget for the day
6. When the CTR >1% change from Manual CPC to CPM or automated bidding
7. Once your CTR becomes less than 1 % change back from CPM or Automated bidding back to Manual CPC bidding