The phrase "to increase the bid" means to offer more money or resources than what was originally offered in order to win a competition, auction, or negotiation. Full definition
If they're good, consider increasing your bids across the board. (entrepreneur.com)
So, in reality, although slowly increasing your bids feels like a good way to save money, this strategy actually loses you money in the long run. (digitalmarketinginstitute.com)
I should probably even increase my bid adjustment more. (woorkup.com)