A Complete Guide to LinkedIn Ads in 2023 – LinkedIn Ads Bidding (3/4)
LinkedIn Ads Bidding
There are so many choices when it comes to bidding on LinkedIn Ads, it can be overwhelming. My advice is to keep it simple and keep it manual CPC to start with (unless you have a CTR >1%). Yes this sounds like more effort, but going manual has 2 key benefits:
- Budget – bidding manual allows you to control your budget more than any other method. You should always start with as much control as you can until you gather data on avg CPC and cost per lead.
- Control – LinkedIn ads work on a second price auction, meaning you’ll end up paying £0.01 more than the bidder that is below you. To decide what you’re pay, LinkedIn will give you a ‘relevancy score’ which inevitably effects where you’ll be placed within the auction. And there are 2 factors that contribute to this score. Firstly, they look at your early CTR % and the second is your bid. The relevancy score is invisible, so I strongly suggest controlling what you can control (the bid).
In terms of deciding on what to bid, it is a good question. If you’re not put off by the recommended range provided in the campaign manager by LinkedIn, then I suggest you go between 80-90% of the highest bid in the range LinkedIn provides.
For example, say LinkedIn suggests other advertisers are bidding between $3-$10 – then you’ll want to be 80%-90% of $10 so you’ll start with a bid between $8-$9.
Hope these tips have been helpful. In essence, once you see what the avg CPC is you can adjust your bid accordingly – just be willing to pay what you bid. Talk soon, Tom