This question is indeed one liner but not the answer
You will have to look at the Quality Score of your keywords and see what's the status. Is it good, bad or average. What's the CTR for for your account and is there a possibility to improve it.
What sort of keywords matching options you have and whether you need to rethink the type and change it. Also from the reporting perspective, you could extract the Auction Insights Report and try to benchmark that as well. More details here:- https://support.google.com/adwords/answer/2579754?hl=en-GB
I hope this helps!
Being on top is all about the ad-rank.
A brief about Adrank:
A value that's used to determine your ad position (where ads are shown on a page) and whether your ads will show at all. Ad Rank is calculated using your bid amount, the components of Quality Score (expected clickthrough rate, ad relevance, and landing page experience), and the expected impact of extensions and other ad formats.
So you need to maintain the best QS and higher bids as well as ad-extensions to be on the top of them.
Additionally, there is a flexible bid strategy which will adjust your bids to be on the top of a particular competitor.(target outrank share bidding)
Note: any automatic bidding is most effective when you have a good QS for your keywords.
Else, always use metrics: estimated top page bid and estimated 1st position bid to get help for what to bid for a particular keyword to beat competitors.
Apart from this, there are bid adjustments for location, device, ad-scheduling which will alter you bids for selected locations, device(mobile), and specific times of a day respectively.
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