If the one of the enemy players engages try using Tempered Fate on other enemies trying to followup.
You can use Tempered Fate before the fight to catch a high priority target out of position, this is especially effective during late game rotations.
Be especially wary of ruining your teammates' ultimates when using your Tempered Fate - try to focus on delaying other enemies rushing to the fight or allies with low health.
Bard is commonly played as an lane bully support who utilizes massive amounts of cooldown reduction and tanky items in order to take advantage of his ability to setup teamfights from afar.
Bard can also utilize magic penetration due to the nature of his Meeps gaining large amounts of magic damage as he collects chimes. This allows items such as Abyssal Mask and Liandry's Torment to compliment the tanky nature of his build.
Boots of Mobility is a valuable item for Bard as he succeeds in his lane bullying endeavors. As this allows him to extend farther to collect more chimes and return to lane in a timely manner.