This is what I would do:
1) pick high paying offers. Assume you will get one conversion per 40 clicks, at 0.20 cpc you need something that pays at least $8 to break even. Try to find offers in the $10+ range
2) pick relevant offers. The demographic of bing users is known. Elderly people who are not tech savvy, they are running internet explorer and never bothered to switch to chrome/Firefox. What would the majority of this population want to see? What would make it easier for this type of person to convert?
3) I think direct linking is better. Several say to use a landing page to pre sell. Pre sell is important but one thing that I’ve learned doing cpa back in the day is that you should always be testing. It’s ineffective to invest tons of your time making HQ Landing pages per offer and spending weeks only testing one offer at a time. You need to be flexible and quick. You need to be able to test offers quick to get the data you need and determine if this offer is a winner. So I would direct link and test offers until you get at least 100 clicks. If you get 0 conversions at that point I would move on. Test one or a few offers a day, hit 100 clicks, determine if you should still stick with this, if not move on
4) try to lower cpc as much as possible. This is obvious. In high traffic countries like us, uk, Australia, the cpc will generally be higher since more people compete there. Cpc is also dependent on your niche. If you select whacky niches with no competition, you may benefit by getting low cpc. Now you may be able to tolerate only 1 conversion per 80 clicks. As long as your investment is lower than the payout you are getting your CTR should not be a major issue. This is granted that the CTR remains the same and doesn’t start falling once you’ve accumulated a lot of clicks
This is just my speculation of things at the moment. I haven’t tried bing ads + max bounty but that’s how I’d go about it