Helping out search marketers to update their bid adjustments regularly based on the latest performance of remarketing audiences, Bing Ads begin to show remarketing bid adjustment suggestions based on CPA data in the Opportunities tab in the web interface.
Bing Ads team recommend enabling of conversion tracking, to take full advantage of the suggestions made in the Opportunity Tab, or other tools like automated bidding and inline reporting. To get started, go to the Opportunity Tab, and review suggestions for your campaigns or ad groups, and select any of them to apply to your campaign.
The curated suggestions, which are based on historical ad performance data will suggest a higher bid adjustment along with estimated conversion increase, when the remarketing lists show lower cost per acquisitions (CPA). And, if the remarketing lists is higher than campaign average, "a negative bid adjustment along with the estimated spend savings will be shown," explains bing ads.
The image below shows where you can find your suggestions in Bing Ads and the potential conversion impact:
Also, you'll need to enable UET tags on your website and set up conversion goals associated with your audience list in Bing Ads. The UET tag, since it powers conversion tracking, and retargeting, "once enough historicaly performance data, along with conversion tracking, and audience list association are available," this opportunity will appear, says bing.
For audience targeting, get started by going to the Audiences tab on the campaign page and begin creating an association for each of your campaigns.
See this screenshot on how to create an audience association in the Audiences tab: