Bing has replaced “Manual CPC” with “Enhanced CPC”. Google will follow it (Google is following footsteps of Bing! Strange!) sooner or later. Yes that’s true. Bing has decided that now is the time to end the Manual CPC, and replace all existing Campaign’s bid strategy to Enhanced CPC. Microsoft has already announced that starting from March 2021 till April 2021, they will migrate Ads Campaigns without automate Bid Strategy with Enhanced CPC automatically. The excerpt is given below:

Starting in March 2021 and continuing through April 2021, all existing search, shopping, and Dynamic Search Ads campaigns without any automated bidding strategies in place will be automatically migrated to Enhanced CPC. All ad groups and keywords will also be set to inherit bidding from their parent campaign.

To make this migration seamless, starting on April 5, 2021, any new campaigns created will no longer have the option of Manual CPC. By April 30, 2021 any campaigns not yet using eCPC will be automatically migrated.

Google on the other hand, hasn't given any time frame yet, but it will also end the Manual Bid Strategy sooner or later.

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