inkedIn is one of the most powerful tools available to B2B marketers. It's the only platform that offers business-related targeting like job titles, industry, and size. For this reason, LinkedIn charges a premium. The average cost-per-click per advertisement is $4.83, while Twitter only charges $0.78. Additionally, LinkedIn users are more passive than users of both Twitter and Facebook. This makes it more difficult to encourage an audience to engage and take action, despite the significantly higher advertising costs.
We've run loads of campaigns across all major social platforms for ourselves and our clients. These tricks we've learned will help you to get the most out of your LinkedIn budget. Please read on.
If the size of your target audience on LinkedIn is 1 million people, then you'll need to spend over $700,000 to reach them all. (See our blog on the cost of generating 60+ high quality leads in under two weeks for stats). To make things more complicated, not every one of those people is going to log in every day. LinkedIn will run your ad regardless, which means that your impressions - and budget - will be wasted on the same people seeing your ad multiple times.
LinkedIn is a US-based company, and runs on US time. If you've budgeted, say, $500 a day, then your budget allowance of roughly 70,000 impressions will start being spent at the beginning of a day in the US. For companies targeting Australians or Kiwis, this means that their budget will be wasted on a small number of early risers (or overseas travellers). It will run out by the time the majority of their target audience wakes up.
To ensure your budget is being spent wisely, consider pausing your ads when the majority of your audience is asleep and reactivating them first thing in the morning. Annoying, but well worth it. Remember that even if you select a pay-per-click/lead option, impressions will still affect your budget.
Gating content is the best lead generation method because it acts as a lead qualifier. Only people who are interested in what you're selling will give you their contact details. To maximise the number of leads you get for your budget, you'll want to remove as many barriers as possible. One such barrier is the scepticism of prospects about whether they will receive something valuable. Scepticism can be overcome by either using a carousel ad or video ad displaying excerpts from each page of your promoted content. This will give viewers a preview of what they can expect from you. While prospects won't be able to read your content, these ads will reassure them that you're offering something valuable and legitimate.
Another barrier to lead generation is the effort it takes for a consumer to pursue an asset. So, you'll want to make it as easy as possible for prospects to hand over their information. Using LinkedIn forms can limit your ability to automate some marketing tactics depending on your tech setup, however, it'll mean more leads for less money, because LinkedIn forms generate pre-filled contact information. This reduces the effort required by a prospective consumer to access your content. It will also reduce your investment, because you won't need to design and develop a landing page.
Last but certainly not least, make sure that what you're advertising is valuable and relevant to your target audience. If it isn't, then no matter how you promote your content, your budget will be wasted. Create content that addresses and solves a business problem, and ensure headings and descriptions cover the benefits the prospect will receive if they download your content.
The short-term worth of having a list of interested prospective companies is almost as valuable as the long-term worth of a comprehensive database. You can use this list for email marketing, social media advertising, event invitations, retargeting across the web, and creating look-a-like audiences to advertise to across cheaper social channels.