Portfolio bid strategies: Auto-bidding for performance goals

Portfolio bid strategies manage bids across campaigns and adjust bids on your behalf.

Portfolio bid strategy is an automated bidding feature that manages bidding across multiple campaigns that are all working toward the same goal.

We automatically adjust your bids to balance under- and over-performing campaigns that share the same strategy, whether to maximize conversions, clicks, target impression share, or other performance goals. Portfolio bid strategies could be a great option for advertisers who want to make sure their entire budgets are spent efficiently.

All you have to do is choose a bid strategy type and include campaigns with complementary budgets, and Microsoft Advertising will adjust your bids based on the performance of the entire portfolio.

Bid strategies and supported campaign types

Portfolio bid strategies work best with one goal in mind, using complementary campaign and bid strategy types. You cannot change a portfolio's bid strategy type. If you want a campaign in the portfolio to use a different bid strategy you can move it to another portfolio. Once you choose a campaign type, the portfolio can only include campaigns of that type.


Smart shopping campaigns are not supported.

Bid strategy type Campaign type supported
Maximize clicks Search, shopping
Maximize conversions Search
Target CPA Search
Target impression share Search
Target ROAS Search, shopping

Learn more: Let Microsoft Advertising manage your bids with bid strategies.

Create a portfolio bid strategy

  1. From the top menu, select Tools > Bid strategies.
  2. Select Portfolio bid strategies.
  3. Select Create, and then choose a bid strategy.
  4. Enter the details of your strategy.
  5. Select Save.

Optimize your portfolio bid strategy

We highly recommend you either create separate budgets for each campaign you include in a portfolio bid strategy or ensure none of them share a budget with a campaign that's not included.

For example, portfolio bid strategies work best with campaigns that have individual budgets or shared budgets that are all included in the same portfolio bid strategy. This way, they are all working toward the same goal. However, shared budgets with campaigns that are partially included in the portfolio bid strategy, might not perform their best—and neither will the portfolio bid strategies to which they are associated.

If you decide to include a campaign within a portfolio bid strategy that shares a budget that's outside of the strategy, we'll let you know it's misconfigured. You can fix this by removing a budget from a campaign and creating a new individual budget for that campaign. You can also add the outside campaign to the portfolio bid strategy.

Check your portfolio bid strategy status or change settings

  1. From the top menu, select Tools > Portfolio bid strategy.
  2. Select the name of your portfolio bid strategy.
  3. From here you can view the status of your portfolio bid strategy. If we see opportunity for improvement, this is where we'll let you know.
  4. Select Settings if you'd like to change the name or other settings.

Your portfolio bid strategy status can change over time

It will take a few weeks for a portfolio bid strategy to learn how your ads and bids are performing. It's important to understand that the more data becomes available, the more we can fine tune your bids and make the most impact. Here's how we will let you know how your portfolio bid strategy is performing:

  • Active: The bid strategy is active and optimized for your goals.
  • Learning: If you've recently added one or more campaigns to this strategy, we need a few weeks to gather performance data and learn how to make the most effective bids.
  • Limited: At least one of your campaigns is constrained by a low budget.
  • Inactive: The portfolio bid strategy has no active campaigns.
  • Misconfigured: At least one campaign using this bid strategy has a shared budget that could be limiting the performance.

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