The Advantages of Using LinkedIn for Your B2B Marketing Needs
Updated: Jun 8
You probably know of LinkedIn as a fantastic tool for networking and professional development. It’s a great tool for meeting other individuals and connecting across your respective field.
What you may not know is that LinkedIn is also an absolutely fantastic resource for B2B marketers to utilize for their marketing campaigns!!
LinkedIn, citing a emarketer report, states it has the largest share of B2B display advertising with 32% and was projected for $1.64 billion in ad spend in the United States and trending toward topping $2 billion in 2023. The $1.64 billion is a 27% increase from 2020.
Those are obviously great numbers that are appealing for marketing campaigns
Here are some reasons and appealing statistics detailing why you should consider LinkedIn for your marketing needs moving forward.
FOLLOW THE NUMBERS
Marketers want to spend their hard-earned money in strategic areas where there is vast potential, and signs are continuing to point in positive directions for LinkedIn. There is a strong outlook regarding return on investment and growth potential in the near future.
Let’s start with the basics.
LinkedIn claimed 774-plus million users spanning 200 countries and territories with 55-plus million companies as of last August. The company also has 2.9 million groups, according to its own data, which showcases a strong and diverse audience that can be specifically targeted.
Having such a massive audience that can be broken down into specific careers, paths and interests is certainly an intriguing and possibly financially rewarding option for marketers. You not only have a wide reach but also the chance to get as granular as you would like.
There also is a strong presence of some of the top companies in the world. LinkedIn is used by 97% of Fortune 500 companies, and 96 percent use at least one of its “enterprise products.”
Those are outstanding numbers and showcase the wide reach LinkedIn has both domestically and internationally, which is a major selling point if your company has an international reach.
LinkedIn’s internal data also reports that professionals are joining the site at a rate of nearly three new members every second. That’s a fantastic sign of growth, as is the BrandZ report from 2019 that LInkedIn is among the world’s top-10 fastest-growing brands.
You want to advertise with companies that are showing that noticeable growth.
Since LinkedIn is also being used for more than just connections, it provides an enticing opportunity for companies since there are ample opportunities to engage with organic content.
The company boasts that its Live streams are up 89% since March 2020, there was a 60% uptick in content creation from March 2019 to March 2020 and 6.3 million members attended LInkedIn virtual events in 2020. There also has been a 23% increase in messages sent.
You’re seeing a platform that is being used more and more and goes beyond just networking, which only enhances its appeal to marketers.
FOLLOW THE MARKETING TRENDS
The marketing trends are also very encouraging, which should come as no surprise since LinkedIn is inherently used for working professionals and businesses.
LinkedIn states it’s a top-three company in B2B digital advertising and growing “3x faster than our category,” surpassed $1 billion in revenue for a 2021 quarter, and is up 97% year over year. The platform’s advertising business has additionally grown five-fold over the past five years.
The platform also says that 96 percent of B2B marketers use LinkedIn for content distribution and 80 percent use financial resources with their content they post on the platform.
Seeing that four out of every five companies are willing to use their finances to spend on their ad campaigns with LinkedIn showcases the effectiveness of the platform.
An Analytics Partners Study also revealed that LinkedIn generates two to five times higher return on ad spend than other platforms and seven times more incremental customer sign-ups in financial services than display media. Within education, it’s two to four times more effective.
That effectiveness is a strong selling point since, obviously, marketing companies want to partner with platforms that will result in more-effective spending and resources.
LinkedIn uses an “objective-based advertising” experience designed to help streamline the process and help increase engagement, awareness and conversions, among other goals.
THE TRUST FACTOR
One of LinkedIn’s selling points is that the company has earned the trust of its users, which can be a sore subject for other social platforms.
LinkedIn reports it’s the No. 1 most-trusted social media platform for three straight years, according to a Business Insider survey that factored in security, legitimacy, community, ad experiences, and ad relevance. Obviously, those final two categories are relevant for marketers.
A Custom Nielsen Lab Study for LinkedIn from 2017 reported that brands that advertised with the platform were reported to be “perceived” as higher quality 50% of the time, more professional 92% of the time, more intelligent 72% of the time, and more respectable 59% of the time. Clearly, there is a certain reputation that comes with brands advertising with LinkedIn.
The large crowd of businesses and companies, especially the best in the world, helps create an atmosphere that breeds confidence in its users that the ads being displayed can be trusted.
Trust is a key trait for any and all businesses, and LinkedIn states that trust leads to a 10-15% increase in “short-term sales performance.” A Nielsen study also reported that LinkedIn ads proved better at “driving BrandLift” than other platforms, per the company’s page.
LinkedIn also separates from the crowd since there is less likely to be misinformation on the site compared to other similar platforms. Misinformation is a huge talking point, and companies trust that the information on LinkedIn can be trusted and won’t be seen as “fake news.”
We hope this information has helped showcase why using LinkedIn for your marketing campaign is certainly a worthwhile venture! Keep following along at Digicom as we explore the best opportunities, tips, and strategies to optimize your marketing campaigns!
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