How can I set competitive bids to improve Ad Rank in Bing Ads?

Setting competitive bids is crucial for improving Ad Rank in Bing Ads, as it directly impacts where your ads appear on the search engine results page (SERP). Here's a step-by-step guide to setting competitive bids effectively:

### 1. Understand Ad Rank Components

- **Bid Amount**: Your bid is the maximum amount you are willing to pay for a click on your ad.
- **Quality Score**: A measure of how relevant your ad, keywords, and landing page are to the user's query.
- **Ad Extensions**: Additional information and options that enhance your ad's visibility and relevance.
- **Expected Impact of Ad Extensions and Other Ad Formats**: The