Have you been mistakenly overlooking the marketing power of LinkedIn advertising? If so, perhaps one of your 2020 business goals should be to improve your marketing strategy by incorporating LinkedIn advertising. Perhaps you’ve advertised your business on other social media platforms like Facebook, Instagram or Pinterest, but you've neglected to try LinkedIn advertising.
You might be thinking, But don’t people only use LinkedIn to look for jobs?
The truth is, LinkedIn is so much more than that now. It’s more than just a platform for job seekers, it’s also a platform for professionals to share ideas and connect. It's also a platform where experts in various industries share their content.
Recently, LinkedIn has improved its advertising and marketing functions. LinkedIn offers different types of advertising, and the ability to target your professional audience.
While everyone else was focused on Facebook, Instagram and Snapchat, LinkedIn quietly built itself into a content-producing powerhouse. And today, it’s one of the best places to build brand awareness if you’re targeting professionals in most industries. -Forbes
LinkedIn is a growing platform and is therefore full of potential. Marketers are beginning to recognize its usefulness, growing influence and authority as a business social network. Below are 5 reasons why your 2020 marketing strategy should include LinkedIn advertising:
Did you know that 92% of B2B marketers include LinkedIn in their content marketing campaigns? That’s no surprise. After all, LinkedIn’s users are on the platform to look for jobs, advance their careers, network or keep up with industry news and trends.
Compare this with other social media like Facebook which is used for more personal reasons. Facebook’s users are on there for personal reasons to connect with friends. Users log into Facebook to see what their friends or family have been up to, whether it’s through reading posts, or liking and commenting on pictures or videos.
So, if you plan on selling products or services that serve businesses, you’ll have better luck on a business platform like LinkedIn.
Since LinkedIn is a professional platform, you’ll find it easier to target the right people for your business.
But don’t other platforms have the ability to target specific audiences, too? Yes. However, LinkedIn advertising is different as it provides you with the ability to target your audience based on their professional profile. LinkedIn advertising allows you to target your audience by:
Company name and company size
Job title, function and seniority
Experience and skills
Since LinkedIn users keep their information up-to-date as they grow in their careers, you don’t have to worry about targeting the wrong audience.
I love using skills to segment out users of a certain product. Let’s say you’re trying to reach users of Salesforce – simply target that skill and show your ads only to users who’ve self-selected that skill. There’s no fussing with whether you’re showing ads to a massive group of irrelevant marketers or salespeople, and it leaves you with your exact target. -Bizible
Your products and services will be delivered in front of the right people, people who are actively looking for an answer that will help improve their position or business.
Now combine this specificity with the ability to create audience templates, ‘lookalike’ audiences (called matched audience by LinkedIn) and audience expansion, you have a powerful tool in your hand. A tool you can use to create powerful marketing campaigns to reach professionals that fit your ideal buyer’s profile.
Aside from features that allow you to reach more people on LinkedIn, there’s another feature that lets you reach similar people from beyond the platform: It’s called Audience Network.
After creating your campaign, the option to use Audience Network will appear. It shows your ads on the LinkedIn news feed and their partner apps and websites. This not only keeps your ads ‘in-sight’ of those professionals but also helps reach other professionals that fit your target profile.
Now, if you’re worried that those apps and sites aren’t trustworthy you don’t need to worry, LinkedIn keeps a close eye on these apps and sites to make sure they meet their quality and standards.
But, if you’re worried about your campaign’s performance outside of LinkedIn, the tool has features of its own that let you control your ad spend, track metrics and generate reports. This way you can decide whether the campaign is still worth running or to discover what works and what needs changes.
Are you still with me? Because Audience Network has one more trick up its sleeve. After you check Audience Network, you’re given the option to control which types of publishers your ads will appear in. This gives you greater freedom over who will see your ads and where, making it easier to target only the people who matter to you most.
LinkedIn has over 630 million professionals on its platform. And 63 million of them, about 10%, are in decision-making positions. If you can target these decision-makers then you have quality leads at your hands. And quality leads mean a higher chance of converting.
“LinkedIn has become a destination where professionals consume high-quality content from professional publishers - like The Wall Street Journal and The Economist - and from their peers who publish content to their feeds.” -Forbes
But how high exactly is the conversion ratio (CVR) on LinkedIn?
Well, Hubspot’s study indicated that LinkedIn generated a visitor-to-lead conversion rate at 2.74%, about 3 times higher (277% to be exact) than Twitter at 0.69% and Facebook at 0.77%!
Now does that mean you’re guaranteed to generate a similar number of leads and conversions?
It depends. Targeting the right buyer is just one of the steps.
Having the right marketing campaign will also determine whether they convert or not. Remember, you need to make content that’s valuable to the audience you’re targeting. Creating content that’s irrelevant to your audience won’t convert, let alone generate leads.
Yes, it’s been heard before, advertising on LinkedIn comes with high CPC and CPM costs when compared to other social media like Facebook. Facebook’s CPC can be as low as $0.27 and CPM at $6.35. LinkedIn, on the other hand, recommends a CPC minimum of $2.00 but suggests it be from $5.67 - $10.09, whereas the minimal recommendation for CPM is $10.50 but suggests it be $18.55 - $28.91.
I know those prices sound high, but the quality leads you get out of it are well worth it. Provided you have the right campaign targeted at the right people, you’re likely to get a high ROI on what you invested into the platform.
Facebook has a lower cost, but how many of those are quality clicks or views? And how long will you have to run your campaign just to get the leads your business needs now? Can users on Facebook even afford your product or service?
You should note that LinkedIn users have double the buying power than the average web audience. In fact, that’s probably one of the reasons for the high conversion rate that LinkedIn has over other platforms. After all, 10% of its users are in a position to make decisions, decisions like what product or service to purchase that will help improve the business.
Just because I’m advocating for LinkedIn advertising doesn’t mean you should exclusively use LinkedIn. Just as with any marketing strategy, you should have a good mix of digital platforms you can leverage to reach and engage as many people as possible. Never rely on just one.
You should always remember that your audience matters most. If you believe you can find a lot of them on LinkedIn then, by all means, use it. If you can find most of them on Twitter or Instagram then use those. Make conversations with your audience in the right places, don’t force them to come to you.
Now, if you don’t have the time nor the expertise required to create a marketing campaign you could always hire a copywriter who specializes in LinkedIn advertising. As you already know, creating effective campaigns require the best writing there is, writing that speaks to your customers’ needs directly.
Feature image credit: 13_Phunkod / Shutterstock.com
Neil Jorvina is a copywriter who writes to help companies and individuals achieve success. He helps businesses go from zero to hero. He enjoys looking for ways to improve what he has written. He doesn't settle for good writing, he only settles for his best work. He makes all this possible through Jedi Mind Tricks... But please, don't let Vader know.Hire Neil