April 18, 2019
With well over 500 million professionals, LinkedIn is the leading social channel for B2B marketers. But is LinkedIn Suitable for your business? The decision boils down to TWO important factors 1) Your Target audience 2) Your budget. LinkedIn reports that research from several sources found that: 80% of B2B marketing leads from social […]
With well over 500 million professionals, LinkedIn is the leading social channel for B2B marketers.
The decision boils down to TWO important factors
1) Your Target audience
2) Your budget.
LinkedIn reports that research from several sources found that:
A recent article on MarketingLand made the case that three types of businesses will find most success on LinkedIn:
In short LinkedIn, Advertising isn’t for everyone. That same article also identifies the following, who should stay away from advertising on the channel:
To find out why, we have to dig deeper into two factors, target audience, and Budget.
Let’s explore this
1) LinkedIn audience
Buy now you must have understood that LinkedIn’s audience is primarily business professionals. If that doesn’t align with whom your brand is targeting, you can rule LinkedIn ads completely.
2) LinkedIn audience location
Seventy-five percent of LinkedIn users are located outside of the US. So if you are targeting audience globally you will find higher value in LinkedIn ads while brands operating on a local or regional scale may not see the same returns.
3) Male Vs Female Ratio
As far as male/female ratio, LinkedIn’s audience is pretty evenly split, with 56% men and 44% women. So no problem there for a brand which is targeting both male and females.
4) User Behavior
We know that LinkedIn is often used to find new job opportunities, which is why it makes sense for recruiters to invest in advertising on the platform rather than in hiring a new employee or consultant to do recruitment for them.
It is fact 50% of B2B buyers use LinkedIn when making purchasing decisions. So businesses with B2B products can get meaningful results from LinkedIn.
It is highly recommended that only those B2B businesses with an average deal size of over $15,000 should use LinkedIn, otherwise, the price of the sale may not make up for the high CPCs (Cost Per Clicks) on LinkedIn.
The other big barrier to entry is the budget.
Simply speaking, advertising on LinkedIn will cost more than other platforms.
According to AdStage, LinkedIn’s ad breakdown looked something like this in 2017:
* Actual costs will, of course, vary on your targeting and ad placement options.
Now that we understand who can use LinkedIn Advertisements, let’s find out when you can use them.
1) To Drive More Traffic
When you are looking for more engagement on a post to promote your company updates, share pieces of content, drive users to a landing page so they can take an action like attend a webinar, opt-in for a free trial and so on.
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2) Personalised Direct Messages
When you are looking to send highly personalised messages to your target audience then LinkedIn Sponsored InMail ads can play an important role. . There is also 100% deliverability. LinkedIn sends out a sponsored InMail to a user only when that user is online. Therefore, it will be placed right at the top of their inbox. This will get you a higher CTR and more leads.
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3) Get Users to Like your LinkedIn Company Page
You can use LinkedIn ads to drive users to like your company page. You can also offer a free ebook to those who like your page with an instant download button.
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4) Lead Generation
Lead generation is the most important goal of any business. LinkedIn advertisements can help you generate quality leads with their Lead Generation forms. If you opt-in for LinkedIn Lead Generation form ads, LinkedIn will pre-fill the forms for seamless data collection without forcing users to navigate away from LinkedIn.
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5) To Fill Vacancies
As LinkedIn is a platform for serious professionals many companies use this platform to fill up their Job Vacancies for Managerial level and above.
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Here Seer Interactive is using LinkedIn ads to drive more job applications. They are also telling applicants that they have moved office ..underlining the fact that they are in an expansion mode.
6) Sell Education Programs
Graduate programs are always seeking out the highest caliber of candidates, but finding and engaging them isn’t always easy. By tapping into LinkedIn’s unparalleled demographic data, you can easily promote your graduate program and generates engagement and leads.
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Here Utah State University was able to use LinkedIn set targeting parameters around geography, expertise, and career level to reach the right audience for their course.
Is LinkedIn ads for you? Well, maybe.
If you’re a high-rolling B2B, absolutely.
If you’re a B2C, better to stick with other social channels with more B2C users.
Beyond that, here are a few key takeaways:
Of course, there are exceptions to every rule, and sometimes your best bet is to experiment.
If you decide to give LinkedIn advertising a try, start with a low budget first and see how it goes.
Share your experience with LinkedIn Marketing in the comments below.
If you need an expert to set up your LinkedIn ads help is here. We will be glad to put together a LinkedIn advertising strategy for your business.