You can optimize your campaign bids and budget using one of these methods:

• Spend Efficiency. The optimiser tries to spend the campaign budget based on how you value events in the sales funnel.
• Business Objective Target. The optimiser tries to spend the campaign budget and reach a performance goal for your campaign. To define the goal, you need to select a metric (like cost-per-click or cost-per-acquisition) and set its target value.

You can also specify other settings that guide how the optimiser tries to meet your goals. For example, you can specify ad placement preferences, bidding constraints and more.

Learn how to optimize your campaign by setting spend efficiency
Learn how to optimize your campaign by setting business objective target