LinkedIn Ads have a reputation for being a bit on the pricey side, especially when compared to Google Ads or other social media advertising platforms such as Facebook or Instagram. This can definitely make smaller businesses or those on a tight budget hesitate. While it’s true that LinkedIn ads might cost a bit more upfront, they pack a punch that makes it well worth it for your business, no matter the size.
See, unlike the broad strokes of Facebook or Instagram, LinkedIn lets you zero in on your target audience with precision. You can target based on things like industry, job title, company size, and seniority – and with over 1 billion users you have access to a vast pool of professionals from various industries and sectors. That means every dollar you spend is reaching the people most likely to be interested in what you’re offering, maximising your return on investment, and making sure that your advertising efforts are highly targeted and effective.
Plus, LinkedIn is not just your average internet user. It’s professionals, decision-makers, people with the power to make things happen. So, if you’re a B2B business or offering professional services, LinkedIn is where you want to be seen. And the ad options? There’s something for everyone – sponsored content, InMail, text ads, you name it. Whether you’re trying to boost brand awareness, drum up leads, or get people to your website or event, LinkedIn has got you covered.
In today’s article, we will delve deeper into the unique advantages of LinkedIn Ads, explore how they can help businesses of all sizes achieve their marketing goals, and provide practical tips for maximising the effectiveness of your LinkedIn advertising campaigns.
What are LinkedIn Ads?
Let’s get the basics out of the way first. LinkedIn Ads are, as the name suggests, advertising opportunities offered by the LinkedIn platform to promote businesses, products, or services to its vast network of professionals and decision-makers.
Now, onto the different types of ads on LinkedIn:
- Sponsored Content: These ads blend into users’ feeds, featuring images, videos, or carousel formats. They’re perfect for boosting brand awareness and engagement and driving traffic to your website.
- Text Ads: Positioned in the right column of the LinkedIn interface, these desktop-exclusive ads comprise a headline, description, and optional image. They’re cost-effective for generating impressions and increasing brand visibility.
- Dynamic Ads: These personalised ads are displayed in the right column of the desktop interface, featuring the user’s profile picture and customisable messages. They excel at personalised targeting and driving engagement.
- Conversation Ads: These are interactive message-based ads appearing in LinkedIn messaging. They enable advertisers to engage with their audience through pre-defined message options, which are ideal for driving engagement, leading, and nurturing prospects.
- Document Ads: These ads promote documents directly in the LinkedIn feed, allowing members to read and download content without leaving the platform. You can choose to share content freely or gate it with a Lead Gen Form to capture leads.
- Event Ads: Promote LinkedIn Events from your Company Page to your audience. Displayed as Sponsored Content in the main feed, these ads highlight event details and encourage attendance.
Each ad format serves specific goals, providing businesses with versatile options to reach their target audience effectively on LinkedIn.
How much do LinkedIn Ads cost?
Advertising on LinkedIn has got a reputation for being expensive, and to be fair, there’s some truth to that. This can be discouraging for smaller businesses and startups operating with limited budgets.
The cost of advertising on LinkedIn fluctuates depending on several factors, such as the target audience, ad format, bidding tactics, and the level of competition.
WebFX conducted a survey involving 270 marketers to gauge their LinkedIn advertising spending. The survey found that 57% of businesses reported being happy with the ROI they received from LinkedIn ads.
On average, the costs for LinkedIn advertising are as follows:
- $2.00 – $3.00 per click
- $5.01 – $8.00 per 1000 impressions
- $0.26 – $0.50 per send for Sponsored InMail campaigns
It’s worth noting that LinkedIn mandates a minimum bid of $2.00 per click and per 1000 impressions, alongside a daily spend requirement of at least $10.00.
Sure, LinkedIn advertising might be pricier compared to other platforms, but there’s a reason for it – it works better. A whopping 82% of B2B marketers report success from using LinkedIn. This can be largely attributed to the platform’s unparalleled targeting capabilities and its professional user base.
There are compelling reasons why businesses, whether budding startups or seasoned players, should integrate LinkedIn ads into their B2B marketing strategy.
Why small businesses and start-ups should advertise on LinkedIn?
Starting a business is often an exciting journey filled with highs and lows, but it’s not for the faint-hearted. Sadly, the stats don’t lie – a lot of startups don’t make it. According to data from the BLS, approximately 20% of new businesses fail during the first two years and 45% during the first five.
So, why do so many fail? There are many reasons, one major one being struggling to reach the right audience. In today’s crowded marketplace, getting your product or service in front of the people who need it most is essential for success.
For startups, the struggle to connect with the right audience can present itself in various ways. It might mean failing to effectively communicate the value proposition of their product or service to the people who would benefit most from it. It could also involve targeting the wrong demographic or failing to understand the needs and preferences of their target audience.
Ultimately, the ability to reach and resonate with the right audience is crucial for startups looking to establish a foothold in their respective industries. LinkedIn, as the world’s largest professional social media network, provides an excellent platform for startups to make relevant connections and increase brand awareness, making LinkedIn the perfect platform for startups. LinkedIn ads, in particular, offer startups a powerful tool to address the challenge of audience outreach.
With LinkedIn ads, startups can choose from various objectives designed to meet their specific business objectives. Whether the aim is to improve brand awareness, drive traffic to their website, engage with their audience, or generate leads, LinkedIn ads provide a comprehensive suite of options to support these goals.
For instance, if a startup is in the initial stages of establishing its presence in the market, prioritizing brand awareness through LinkedIn ads can help to create visibility and recognition among the target audience. By strategically creating ad campaigns that showcase the unique value proposition of their offerings, startups can effectively capture the attention of potential customers and distinguish themselves from any competitors they may have.
While startups and small businesses seek to drive traffic to their websites or landing pages, LinkedIn ads offer an effective solution. By directing ad campaigns to encourage clicks and visits to specific web pages, startups can channel interested prospects directly to their online platforms, facilitating further engagement and conversion opportunities.
Lead generation is another critical objective that LinkedIn ads can help startups with. By leveraging lead generation forms within their ads, startups can capture valuable contact information from interested prospects, nurturing them through the sales funnel and ultimately converting them into paying customers. This feature streamlines the lead acquisition process, so startups can quickly and efficiently build their customer base and drive revenue growth.
Why medium and large-sized businesses should consider advertising on LinkedIn?
It is not just startups and small businesses that can benefit from advertising on LinkedIn. The truth is medium-sized and larger businesses can benefit greatly from it.
Some of these bigger companies might think they don’t need LinkedIn ads because they’ve been successful without them for years. However, overlooking LinkedIn advertising means missing out on valuable opportunities. LinkedIn ads can help all kinds of businesses increase their brand visibility, engage with a highly targeted audience, and foster ongoing growth and expansion.
Even established businesses must take a proactive approach to marketing to maintain relevance and outperform competitors in today’s ever-evolving marketplace. LinkedIn provides a fertile ground for such objectives, offering a powerful advertising platform that helps businesses refine their messaging, amplify their reach, and forge deeper connections with their audience.
By harnessing the power of LinkedIn advertising, medium-sized and larger businesses can unlock new avenues for growth and solidify their competitive edge. Whether it’s reaching untapped prospects, nurturing existing customer relationships, or expanding into new markets, LinkedIn offers a suite of tools and features tailored to meet the diverse needs of businesses at every stage of their journey.
In essence, investing in strategic marketing efforts on LinkedIn isn’t just about maintaining visibility—it’s about keeping the momentum going and propelling your business forward, driving sustainable growth, and cementing your position as an industry leader. As the digital landscape continues to evolve, businesses must not rest on their laurels and recognise that adapting to changing trends is essential for long-term success. LinkedIn ads can play a critical role in shaping their success both now and in the future.
Final thoughts
Whether you’re a startup looking to establish a foothold in your industry or a larger business seeking to maintain relevance and outperform competitors, leveraging LinkedIn Ads is key to driving sustainable growth.
As the digital landscape continues to evolve, businesses must remain adaptable and recognise the role LinkedIn Ads can play in shaping their success both now and in the future.
StraightIn is a LinkedIn marketing agency based in Manchester with offices in Chicago and Singapore. We specialise in helping professionals and businesses leverage the power of LinkedIn to drive results.
If you’re interested in learning more about LinkedIn Advertising, feel free to get in touch with us today.
You can also reach out to our Head of Paid Ads, Rhys, directly at r.walker@straight-in.co.uk. He is Mad about Ads and would be more than happy to chat with you about your advertising needs.
