Bid strategy determines how Meta spends your budget to get results. This lesson covers the main options — Lowest Cost (Meta automatically tries to get the most results for your budget, recommended for beginners), Cost Cap (setting a target cost per result while letting Meta optimize within that limit), and Bid Cap (setting a maximum bid for more advanced, hands-on control). Understanding when to use automatic versus manual bidding helps balance getting enough ad delivery against controlling your cost per result.