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As of this post, there is no easy way to bulk import Zip codes, postal codes, or large lists of locations into Microsoft Ads.
This results in many affiliates & marketers not being able to properly leverage the full capabilities of Microsoft Ads.
Some affiliate offers (and/or businesses) are fine with targeting a handful of cities or states.
But other certain offers and promotions require a very specific zip code/postal code or cities list for either a) giving you the best price per conversion, which has different prices per zip code, or b) some offers only convert within a specific set of zip codes.