As a business-oriented online service that operates for around two decades, LinkedIn is one of the most successful social platforms growing fast with 690+ Million followers. It is employment-oriented and professional networking. Among its members, four out of five have the power to impact business decisions, and they have double the buying power compared to typical online audiences. All of it makes LinkedIn paid advertising services the most attractive promotion technique to maintain business leads. But you must be aware of its advertising facilities and options to make sure that you get maximum benefits from it. Let’s find out some.
What are the benefits of using LinkedIn paid ads?
Just take a look at an interesting fact. According to the reports from AdStage, Facebook has a median Cost Per Click (CPC) of $0.63 where LinkedIn has $3.99, which itself is an increase of 7.3% from 2018 to 20019. What makes this possible? How it became the most preferred advertisement channel among the other digital platforms?
Let’s find out what makes LinkedIn paid ads a tremendous marketing tool for investors and business entrepreneurs?
- It increases engagement on our website effectively.
- It can bring you qualified leads.
- It is provided with the facilities of retargeting the users who did not convert.
- It can remarket the existing customers.
- It is very effective in gathering followers.
Based on the purposes they are getting used, LinkedIn paid ads to get classified into awareness ads, consideration ads, and conversion ads. LinkedIn provides better options to implement, control, and test advertising campaigns, and it helps to popularize LinkedIn among professionals. Some innovative options make LinkedIn paid campaigns much more effective than others.
Targeting Audience options
The most compelling benefit of using LinkedIn paid promotion is that you can hyper-target your audience. LinkedIn not just allows you to target a particular business firm, but the employees that it contain. Since professionals like to specify their job titles, company names, seniority, and other professional-related information on LinkedIn, it can provide more updated information about your business clients. Remember that around 73 million members are senior-level influencers and 45 million are decision-makers on LinkedIn. All these ensure that your LinkedIn paid campaigns can be beneficial in every sense.
It also has several options ensuring the ads are getting shown to the audience of your choice. You can do this by controlling your budget and also save your audience as a template to layer on later to test the effectiveness of your LinkedIn paid campaigns. These campaigns can get done with different promotion tools, including text messages, videos, images, etc. Each type of them serves unique purposes to bring you business leads.
Types of Ads and their benefits
Generally, LinkedIn paid advertising can get characterized into four types as,
- Text Ads
- Sponsored Content
- Sponsored In-Mail
- Video Ads
Text Ads show up at the top of the right-hand side of LinkedIn’s desktop feed. It is an effective method to build strong leads with professional demographics. At the same time, sponsored content, also known as native ads, will show up on the audience field distinguished as ‘promoted’ no matter what type of device you are using. It is one of the most popular LinkedIn paid ads, and it provides carousel ads, image ads, and video ads. A video can get paid with $.06 - $0.14 per three-second view.
Sponsored In-Mail is another effective LinkedIn paid campaign that lets you directly advertise LinkedIn members in their inbox with effective mails. Experts suggest that 89% of consumers prefer that businesses stay in touch with messaging, but only 48% of companies using this interactive technique effectively. LinkedIn paid promotion can get even more personalized with dynamic ads. According to Carolanne Hornung of Vistage, Dynamic Ads have allowed them to increase their lead pool by 25% while it costs 24% more efficiently than their previous efforts.
LinkedIn paid promotion cost depend on several factors, including target audience, campaign objective, and bids. Different from other social media platforms, LinkedIn paid promotion cost depends highly on your bids and budgets. It means your overall ad spend will vary depending on your business goals because this determines the types of ads that you choose for your campaigns and the budgets. It also depends upon the ad relevance score as that a high ad relevance score can lower your LinkedIn paid promotion cost. It is because LinkedIn wants to serve users relevant and engaging ads.
How can we control the ad spend on LinkedIn?
Three ways are there to control your LinkedIn paid ads price.
First among them is setting the total budget per campaign. To run a campaign with a specific budget, you must spend at least 10$ per campaign. A daily-budget campaign is also there that allows you to run the ads continuously, and it operates at the same cost. Another one is setting bids, through which you can fix the amounts you are willing to pay for clicks, impressions, and mails.
On average, the cost of LinkedIn ads is $5.26 per click, $6.59 per 1000 impressions, and $0.80 per send. If we go into detail, LinkedIn paid ads price can get specified as,
- $10 daily budget per campaign
- $0.35 - $0.85 pay-per-spend
- $10 total budget per campaign (Only for Sponsored Content)
- $2 bid for Cost-Per-Click or Cost-Per-Impression on Text Ad campaigns
It points that before stepping into LinkedIn paid campaigns, you need to determine the model of advertising that you want to use. Getting familiar with LinkedIn paid advertising techniques can be helpful for you to make effective advertising campaigns with flexible costs.
Tracking and Testing Options
You can have the facilities of tracking and testing your LinkedIn paid promotion campaigns through various methods. With the facilities of tracking, you can compare the effect of your LinkedIn paid ads on the audience and can monitor the overall performance of your campaign. It can get achieved by verifying how many peoples have seen, click, and convert your ads. It helps you to compare each ad campaign’s performance and see how you can improve your low-performance campaigns.
At the same time, testing your LinkedIn paid promotion can bring you the facilities to make changes on advertisements that you have already aired. Through this, you can verify the changes that have brought you a better outcome. You can also ensure that you put on the best version of your LinkedIn paid advertising, and can have the facilities to compare it with the previous one. All of it can help you to improve your performance a lot.
As a business and employment-oriented social platform, LinkedIn opens the doors of tremendous business opportunities to every business entrepreneur. Joining hands with someone who can help to find the best digital marketing and advertising solutions can effectively improve your business performance in this regard. Since digital platforms have made their place in our day-to-day lives, as businessmen, you cannot turn your head towards LinkedIn paid advertising techniques.
Being a reputed agency with tremendous experience in digital marketing and advertising, our expert team can offer you the best digital marketing techniques. If you are trying to explore the possibilities of LinkedIn paid advertising services, we can lead you to the right ways to business growth and success. Keep in touch with us at firstname.lastname@example.org