Microsoft this week announced portfolio bid strategies are now rolled out globally. Portfolio bid strategies use an automated bidding feature that manages bidding across multiple campaigns.
Portfolio bid strategies automatically adjust the 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.
Microsoft recommends using shared budgets with portfolio bid strategies to allow campaigns to draw from a single budget while sharing that common goal.
Portfolio bid strategies are not supported across accounts, and smart shopping campaigns are not supported.