LinkedIn has about 450 million global users. Unlike any other social network, LinkedIn has a well-defined and specific demographic range. This network, though, is so much more than profiles and resumes. It’s actually a perfect environment for targeted business messages. This makes advertising on LinkedIn a cost-effective channel for leads generation for B2B marketers.
But the burning question is, how to start? What goes into LinkedIn advertising?
Advertising on LinkedIn: The Basics
Getting started with linkedin advertising is surprisingly straightforward. LinkedIn even summarized the process in seven steps.
1.Choose an Ad Campaign Type :
Self-service ads and managed campaigns are 2 types of ad campaigns you can run on LinkedIn. You can launch a self-service ad campaign in just minutes. This is possible with the in-built Campaign Manager. Managed campaigns, on the other hand, are launched and managed with the help of a dedicated LinkedIn Team.
2.Set up a Campaign Manager Account :
Only when you have a Campaign Manager account can you access essential features and create ad campaigns. The Campaign Manager is where you can manage your self-service ad campaign. Also, you can tweak campaign details like budget and ad duration on the Campaign Manager’s interface.
3.Choose an Ad Format :
The availability of ad formats depends on the type of ad campaign you want to run. For self-service campaigns, the following formats are available:
Account-managed campaigns, on the other hand, are available in these formats:
4.Create your ads :
Next is the creation of ads itself. It is advisable to create different variations of the ad ( for split/testing purposes) . For Linkedin Sponsored content, you can create variations using different links, photos, and/or images. Linkedin Text ads can have up to fifteen variations using different headlines, descriptions, and images. You can just toggle an ad off if it isn’t performing well.
5.Target your audience :
Linkedin Audience targeting can make or break the ad. For the location, you can target an entire country or a specific city. You are then asked to select specific targeting criteria based on LinkedIn’s demographic of professionals. There’s also an option to expand the ad’s reach to a similar audience or to LinkedIn’s partner audiences, bringing your ads beyond the feed.
6.Set your budget :
Once your LinkedIn ads are ready, you can allocate the budget for the ad campaign. Options include bid type (CPC or CPM), bid amount (minimum bid is $2.00), daily budget (minimum is $10.00), and start date.
7.Measure and optimize your campaign :
The last step involves tracking the performance of your ad campaign. There would be a dashboard on the Campaign Manager for reporting key metrics and analytic data. The analytics data available can give you insights about your audience.
Tips for Advertising on LinkedIn :
Strategies that work for other advertising networks most probably work for advertising on LinkedIn. But if you are a newcomer in the industry, it is best to start off on the right foot. Most of these are basic tips you can encounter all throughout your marketing experience.
- The Linkedin ad copy should have a powerful message ( CTA ) and relevant images. Everything starts with great ad content. In LinkedIn, the ad copy is just 75 characters long for the description and 25 characters long for the headline. Therefore, the message should be effective, with an appealing call-to-action. The same applies to images. Image ads are especially effective on LinkedIn, generating up to 20% more clicks. Just make sure that the image you use matches with the offer.
- Target the right audience. Define your target audience to the right prospects with the use of the 1 or 2 targeting criteria like Company industry and Job function. But the audience size should not go below 100,000. You can easily narrow or broaden your target audience by targeting specific individuals from LinkedIn groups.
- Don’t forget to optimize your landing page. Your ad’s landing page should have excellent offers and call-to-actions, enough to encourage the filling out of forms or eventual conversions.
- Spend your advertising budget wisely. Don’t set your daily budget to the minimum cap. This can cause your ad to underperform, only receiving as much clicks and impressions as the budget allows. Also, you will still be charged for clicks or impressions that are delivered shortly after your daily budget ran out. So it is best set a buffer of up to 20% of your daily budget. In addition to this, spend a higher amount or ‘front load’ your daily budget at the beginning of each new campaign. Once you are able to accumulate statistically significant data, adjust your daily budget accordingly. You can do this by calculating the average of the total spend per day and comparing it to your daily budget.
- Don’t forget to monitor your ad’s performance. As stated earlier, you can access analytics data from the LinkedIn Campaign Manager. Once you are familiar with the Campaign Manager’s interface, start monitoring your ad’s key performance metrics. These metrics depend on your marketing and business goals. Most of the time, one of the key performance metrics is CTR.
It is also important to measure off-site performance. Use your landing page’s analytics to measure and track any increase in website and referral traffic. Also measure qualified leads, conversions, and cost per lead (CPL). In order to track the ads that are bringing more leads, create unique tracking URLs for each ad and adjust as you go.
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