LinkedIn Ads – The times they are a changin
**This is the first of a 4 part series on The State of Online Advertising in 2014- In this first installment, we’re taking on recent changes on Linkedin, and how they are now a real player in the Online Marketing World**
LinkedIn is a dinosaur by internet standards. Launching around the same time as Myspace, it’s been on a significantly different trajectory then the incredibly irrelevant-to-anyone-except-for-your-local-dj Myspace. Hell, even Tom from Myspace has gone on to greener pastures
You probably noticed in the last few months a significant change in the Linkedin interface. Some of the changes include:
- A more sleek, updated design
- A new Social function that allows you integrate social media accounts such as Twitter and Facebook
- Improved profiles with the clever new “Endorse” function that allows you to endorse skills from your connections without necessarily having to write a long, forced recommendation
- and lastly, improved positioning of Ad Space
Until recently, Linkedin’s user experience rendered their Ad platform almost irrelevant, which is truly unfortunate. We get clients all the time that want to leverage Linkedin’s awesome targeting potential (C-Level execs, specific companies, etc) to serve ads. Usually any attempt at LinkedIn usually reported a very low ROI (or bang for our advertising buck)
That is, until now.
With an improved user interface, and a more prevalent positioning of advertising, Linkedin has shown themselves to be a real player in the online advertising space. We measure ROI very closely in any ad campaign we run, and the last few clients we’ve launched on Linkedin have been returning unprecedented Conversion Rates and Return on Ad Spend (ROAS).
As I mentioned before, the targeting possibilities are EXTREMELY enticing. Most every C-Level exec/decision maker has a presence on Linkedin. The same can’t exactly be said for Facebook. If you are a B2B company, how can you not look at that as somewhat of a Holy Grail of Lead Generation.
One drawback has always been the cost of advertising, but improvements are being made on that front as well. Linkedin locks you into a flat CPC rate with advertising, but they also offer CPM bidding.
Usually a best practice is to start with the flat CPC rate. After you really optimize your click through rate (CTR) and conversion rate, it maybe an option to go for CPM bidding (CPM bidding refers to cost per thousand impressions). If you get really efficient with your ad account from a CTR and Conversion Rate standpoint CPM bidding could potentially save you significant money on advertising on Linkedin, nullifying it’s relatively high cost.
Perhaps the best part of LinkedIn’s advertising platform is that it’s fairly easy to manage ala Facebook. There’s nothing stopping a novice from launching a campaign today. If you have any questions on getting a campaign up and running, don’t hesitate to contact us!