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5 Tips To Derive Value For Your Business Through LinkedIn

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LinkedIn is currently the most important platform a B2B company can use. While SEO or E-mail marketing efforts of a company may bring in more leads than social media efforts, it still has a better chance of generating a lead than most of the traditional sources (source: http://blog.hubspot.com/marketing/where-do-marketers-get-leads-data). LinkedIn, in fact, is the most successful source of generating social media leads and which is why more and more companies are diverting their focus towards it.

Linkedin share

(source: http://cdn.business2community.com/wp-content/uploads/2014/03/linkedin-b2b-infographic.jpg)

With over 400 million members and over 100 million unique monthly visitors, it is the world’s largest professional community (source: http://www.slideshare.net/linkedin/linkedin-q4-2015-earnings-call). Whether your objective is to generate leads, building your company’s brand image or simply networking, LinkedIn can be tremendously powerful to help you with them.

Keeping these things in mind, here are a few tips to derive value for your business.

Tip 1: Perform Branding and Lead Generation in Tandem

LinkedIn marketing can be viewed as a full funnel professional platform. Most B2B companies have varied objectives for their social media campaigns, brand building, engaging audiences or generating leads. LinkedIn can be used to help a company throughout the marketing and sales funnel. It uses data provided by the users themselves, to help a company find the right person who may be interested in the product they are offering. So, you can adopt a LinkedIn strategy where you are not only reaching potential leads through your content but also using tools like Sales Navigator to nurture and grow your prospects to lead to an acquisition. A company would use Display/text ads and sponsored updates in the upper funnel and using the sales navigator, it can develop and nurture leads to finally lead to an acquisition. Developing a branding and lead generation strategy in tandem would also enable an organisation to have a uniform and consistent message throughout the sales process.

Marketing and advertSales Navigator

(source: LinkedIn Business solutions page)

Tip 2: Create a conversion focused company page

In LinkedIn, your company page is your sales person and it needs to be a lead generating, conversion focused powerhouse. Right from the images you use, to the description of your company and the content you share, should build your company’s brand image.

Screen Shot 2016-02-12 at 3.27.51 PM

(image source: Insightly LinkedIn page)

If you look at the Insightly company page, you will notice that the company description is incredibly simple and to the point. The statement “… web based CRM and project management solution for small to medium-sized businesses.” has already defined their product and target audience and the next couple of lines describe their value proposition. If a potential customer was to visit their page, he would be immediately intrigued to look further through their page.

Tip 3: Create and share content on your page that will lead to conversions

The content that a B2B company publishes on their page should always be customer focused. The content shared, should be used to attract, nurture and engage your potential clients. IBM has over 2.7 million followers on its company page and had over 1.8 million interactions in 2012 (source: http://blog.hubspot.com/marketing/companies-rocking-linkedin-company-pages and IBMs LinkedIn page). Their strategy seems simple enough where they share relevant data which may interest their followers and potential customers and drive interaction and engagement through it. If you look at the two updates in the images here, you will notice that one is pointing to an article by a website which describes how one of their products is being used. The other update is referring the audience to their company page, where they would find further information about a newly launched product.

Screen Shot 2016-02-12 at 3.42.38 PMScreen Shot 2016-02-12 at 3.18.26 PM

(image source: IBM LinkedIn page)

Both these updates had a simple and clear objective of attracting potential clients and peak their interests for the company’s offering. If a visitor, who may be your potential client, goes through your page and he finds such relevant and informative content on it, he would be extremely likely to investigate further by contacting you.

Tip 4: Nurture your leads using Social Selling

Social selling is a relatively new concept. LinkedIn’s global senior manager of social marketing, Koka Sexton, in his blog post “The Rise of Social Selling.” defines it as, “leveraging your professional brand to fill your pipeline with the right people, insights, and relationships.” Aberdeen group research data shows that sales rep tend to sell more when they are using social selling.

Why social selling

(source: https://blog.kissmetrics.com/social-selling/)

Sales representatives of any organisation can use LinkedIn in a powerful way to achieve their sales targets. A sales representative can search through LinkedIn’s members to find out prospective clients for his organisation and build a robust pipeline.

With social selling, the adage, “Everyone is in sales” is never truer. An organisation should leverage its employees social connections to build brand awareness and generate leads. Thus, giving an opportunity to each and every employee of its to contribute to the sales funnel.

Tip 5: ROI is your ultimate success metric

The sales process for a B2B organisation typically lasts over a number of months, and once you acquire a customer, they may have a long relationship with your organisation. So how would you know whether the amount you are spending on your marketing efforts has been worth it?

Typically a marketer, depending on the organisations objectives, would measure the following to access his LinkedIn marketing success:

  1. Leads generated
  2. Customers acquired
  3. Followers growth
  4. Engagement rate

But then, what impact are these attributes having on your organisations revenue? Thus, to assess this impact, one needs to calculate the ROI or Return On Investment for his campaigns.

Whatever the goal for your campaign may be, it’s always a good idea to start by assigning a monetary value to each of your goals. For example, you know that the lifetime value of your customer is Rs. 100 and out of 10 leads, typically 1 lead is converted. Thus, you may say that the value of each lead to your organisation is Rs. 10. Next you would want to find out how much you are spending to acquire each lead. Continuing the example, your LinkedIn marketing campaign spends are Rs. 2.

Customer Lifetime Value

Thus, in the example above, the organisation, on spending Rs. 2 is making Rs. 8, which means the campaign has a positive ROI and can be deemed as successful. Of course, this is a very simplistic example and the realities of calculating ROI are extremely difficult. The data may not always be readily available to you and you might have to take help from a number of departments in your organisation to come up with the monetary values for campaigns.

Conclusion

LinkedIn is definitely one of the most important platforms for B2B marketers today. Its importance is only going to grow in the future. Keeping in mind these few tips will help your B2B business attain more value from LinkedIn marketing campaigns.

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  • There are 4 comments


    • 2 years ago

      zeev   /   Reply

      Great Share..
      The last point was the one which caught my attention the most, spending on marketing campaign doesn’t have point if you are not aware of the profits.

      So, yes ROI is essential and one should keep checking from time to time to make most out of your digital marketing campaign especially.

      • 1 year ago

        Sangram Tawde   /   Reply

        Hi! Thanks for your reply. Glad you liked it.

    • 2 years ago

      digitalvillage.in   /   Reply

      A good and informative one. But, I would like to know about the scopes of only Social Media Promotions on LinkedIn. Like on daily basis we get to know the clients who really have a low budget for their Marketing. And it is a sort of challenge for us to provide them with best results without paid marketing. Can you please suggest some strategies for free promotions on LinkedIn.

      • 1 year ago

        Sangram Tawde   /   Reply

        Hi! Thanks for your reply.

        I think for someone with low budgets you could try optimising your company’s LinkedIn profile for search, keep sharing new and relevant content on your company page, create and participate in relevant LinedIn groups.
        Hope that answers your questions.

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