How To Compete With a Very High PPC Bidder

I am running a successful ad campaign on Microsoft Advertising (formerly Bing). My page ranking averages 2.5.

I have a competitor in my business sector that has set very high first position bids. Most of them are over $40 per click. I do not have the budget to compete with these high bids and I know my service is better then the competitors. Is there a way to combat this/compete with this? I know who the competitor is and I know that they do not have the budget to sustain those high...

How To Compete With a Very High PPC Bidder

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