Which ad bidding strategy is generally the most effective for achieving consistent results when running ads with a limited budget?

For achieving consistent results with a limited budget, the 'Lowest Cost' bidding strategy (also sometimes called 'Automatic Bidding') is generally the most effective. This strategy instructs the Instagram Ads algorithm to get you the most results possible within your budget, without requiring you to manually set bids. The algorithm automatically adjusts your bids in real-time to optimize for the lowest cost per result, given your budget and targeting parameters. For example, if you're running an ad campaign to generate website clicks with a daily budget of $20, the 'Lowest Cost' strategy will attempt to get you as many clicks as possible for that $20, automatically adjusting bids based on the auction environment and competition. While other strategies like 'Cost Cap' or 'Bid Cap' offer more control over individual bid amounts, they can be less predictable and may not fully utilize the budget when there is a limited budget available.