What does the 'Cost Cap' bidding strategy in LinkedIn Campaign Manager aim to achieve?

The 'Cost Cap' bidding strategy in LinkedIn Campaign Manager aims to achieve the maximum number of results (such as clicks, leads, or conversions) while staying within a specified target cost per result. Advertisers set a desired average cost they are willing to pay for each result, and LinkedIn's algorithm automatically adjusts bids to try to achieve that target cost. This strategy provides a balance between maximizing volume and maintaining cost efficiency. Unlike manual bidding, where the advertiser sets a maximum bid, Cost Cap allows LinkedIn to bid more aggressively when necessary to acquire results at or below the target cost. It's best suited for campaigns with a clear understanding of the value of each result and a desire to scale performance while maintaining cost control. For example, if a company is willing to pay $50 per lead, they would set a cost cap of $50, and LinkedIn would optimize bidding to generate as many leads as possible while staying close to that cost.