How to do Bidding on LinkedIn Ads
When bidding on LinkedIn Ads, you must start with Cost Per Click or CPC.
CPC is ideal because we need people to see our ads and click on them at the end of the day. Thus LinkedIn will distribute the ads accordingly.
But once you have reached the above LinkedIn Ads benchmark, i.e., above 1% in Click Through Rate or CTR, you can switch the bidding to CPM.
CPM will give you volume.
Since your CTR is good, there is a high chance that your ad is being clicked by many people; thus, switching to CPM will give you volume, which can help you with an even higher CTR.
PS: I will link a document in the comment section with all the LinkedIn Ads benchmarks.