What are key factors to keep in mind when choosing a bidding strategy for your campaign?

What are key factors to keep in mind when choosing a bidding strategy for your campaign?   Performance, auctions, and user journey complexities   Budget, competition, and user thought processes   Location, calls-to-action, and user conversion costs   Targeting, auctions, and campaign cost-per-click  

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What are key factors to keep in mind when choosing a bidding strategy for your campaign?