Should We Pay For LinkedIn Ads?
LinkedIn is the most audacious and influential B2B networking platform in the world. It’s like a Chamber of Commerce, but worldwide, and on steroids. No wonder then, that many companies are excited about the business development potential of LinkedIn Ads. But with a finite advertising budget and plenty of other paid options out there – Facebook and Google adverts being the most notable – are LinkedIn adverts worth the money?
To help you make a decision, here are what we feel are the main strengths of LinkedIn adverts:
1) Huge Audience of Relevant Leads
It is a safe bet to assume that all the major decision-makers you want to target will have a LinkedIn presence. Out of the 400 million or so global LinkedIn profiles, around 60% of active members hold a management or leadership position within their organisation. It is a social network for decision-makers, using it specifically to seek out new business opportunities. So you have the potential to reach your target market, while at work, while they are receptive to new ideas, in a way that you don’t with Facebook adverts. This alone is one of the main reasons businesses decide to commit a budget to LinkedIn ads.
2) Great Targeting Potential
LinkedIn allows you to target adverts at an extremely specific demographic. Choose a market by industry, country, age, gender, job title and a whole lot more. You can also target people with specific skills and interests, so you can be assured of a warm audience for your message.
3) Choice of Advert Format
LinkedIn stands out from other advert providers by offering users a choice of four types of advert. This gives you great flexibility to customise your content to get the results you need.
Poll Ads: These ads broadcast an online poll to your target audience, letting you canvass opinions on new products and test market demand. It is a convenient and cost-effective way of conducting market research.
Social Ads: Similar to the way Facebook targets adverts, LinkedIn Social Ads send content to users based on their interests and mutual connections. There is a synergy here with the way B2B marketers can use LinkedIn’s network marketing platform to increase their number of active leads.
Join Group Ads: These adverts invite a user to join a group. They are good for relationship building and establishing your authority within your LinkedIn network.
Video Ads: Target your audience with a short 30 second video. You can create the video specifically for your LinkedIn advert or use one already hosted on YouTube.
4) Flexible Budgeting
The great news is you can try LinkedIn Ads without breaking the bank. The minimum spend is only $10, which depending on current exchange rates is UK £7.70, and if your click through rate is decent you will only spend around two dollars (UK £1.25) per click. For lower click rates the cost is slightly higher, but even at this rate a small LinkedIn campaign is usually cheaper than the equivalent on Google AdWords.
Making The Right Decision
There are some attractive benefits to advertising on LinkedIn that many B2B businesses will find compelling. However, like any digital advertising, if the campaign is not properly coordinated then it is easy to spend a lot of money without many results. Learn more about how LinkedIn could be used for your B2B business with this article - How To Effectively Use LinkedIn For B2B Marketing.
If you are not already an active LinkedIn user then it is not advisable to jump straight into paid adverts. This is because LinkedIn ads complement the networking and marketing tools already native to the platform, rather than providing an alternative quick fix. Even if you are an active LinkedIn user, there may be better ways for you to spend your advertising budget. It all depends on what works best for you. You can read our thoughts on paid Facebook adverts here - B2B Facebook Advertising - Should We Pay For Facebook Ads?
Making the right decision on paid advertising is an important one, so it is good to get some expert advice. Our team of marketing specialists at JDR can advise you on the pros and cons of each platform and help you set up a bespoke portfolio of digital adverts that give you an optimum return for your business. Give us a call to discuss further.