However, there are other bid types available depending on your specific marketing goals, where you can set your exact bid value. Keep in mind that if your bids are too low, or not as competitive, you may miss out on an opportunity to reach your audience. One way to improve your odds of winning an auction is to set a high, competitive bid. But don’t worry, even if you set a high starting bid, you often end up paying a lower cost per result once your campaign runs. That’s because on LinkedIn, your ads compete in a “second-price auction.” That means the winning bid in an auction pays just $0.01 more than the second-highest bidder. By strategically placing your bid, you’ll have a stronger chance of getting in front of audiences that are most likely to take an action on the ad (e.g. a click).

Smart bid management will improve the quantity and quality of your results, such as clicks or impressions, and markedly improve your ROI. You can find useful tips and ways to navigate bidding from the latest guides for bidding on LinkedIn.

When you run ads, you will pay only for clicks, impressions or video views, depending on which bid type you select.