LinkedIn Advertising: Who Could Benefit?
Are you looking for a new job? Chances are if you’re a professional, or pre-professional individual interested in entering the workforce, you created a profile on LinkedIn. As of 2020, LinkedIn has over 575 million users with over 260 million active monthly users. Over 150 million of those users live in the United States. While those numbers are impressive, LinkedIn falls behind Facebook, Twitter, Instagram and YouTube in monthly active users despite being older than its four competitors. So why would someone use LinkedIn Advertising to market their business or services?
What is LinkedIn Advertising?
According to LinkedIn’s marketing solutions, LinkedIn’s advertising, targeting professionals on its network, has twice the buying power of typical audiences, and it’s the premier platform for b2b lead generation. Like Google Ads, LinkedIn offers spending and bidding options based on daily budget, cost per click and cost per impression. In fact the set-up process resembles that of Google Ads: setting up campaign objectives, identifying target audiences, creating ads, bidding and evaluating. The advertising suite includes sponsored content, message ads, video ads, text ads, dynamic ads, carousel ads and lead generation forms. Lead generation forms, message ads and email marketing options, compared to the lack thereof in Google Ads and Facebook Ads, add value to LinkedIn’s marketing abilities. Combining LinkedIn’s already business-driven audience with the specific tools used by the ubiquitous Google Ads makes this an appealing option to markers. Right?
LinkedIn and Other Paid Advertising Platforms
Despite these advantages, LinkedIn advertising is not the most cost-effective compared to its competitors. With a minimum CPC bid of $2, LinkedIn advertising costs can add up, especially when you have a limited budget. For comparison, Facebook’s minimum daily budget is only $5 for clicks, likes, videos or post engagements. Other than the lead generation forms and email marketing positioning, Facebook offers a comparable suite of advertising solutions. Furthermore, Google Ads has no minimum daily budget, and while this may not be to the advantage of the marketer, it offers a cost-effective solution for a niche business. So who is using LinkedIn advertising?
Who Uses LinkedIn Advertising?
Typically, LinkedIn Advertising appeals to B2B marketers as opposed to B2C. Why? The audience is already business-focused, so there’s no need to cut through additional noise. According to Nicole Conte, LSC Digital’s go-to paid advertising whiz, LinkedIn is good for any client looking for more B2B opportunities as well as anything that is slightly more professional. Whereas B2C, such as retail, wouldn’t be a good fit for LinkedIn. In addition to strictly B2B campaigns, advocacy, education, employment services, insurance and legal services are among other campaigns that would perform well using LinkedIn’s audience. On the other hand, travel, home goods and anything personal (like dating sites) could see better results using other marketing tools.
Which category does your business fall under? Yes LinkedIn or no LinkedIn? Not entirely sure? Working with an agency (like LSC Digital) can help hone in on what your business goals are and where to best spend your marketing dollars.