If you were to focus on only one channel for your company’s lead generation, it should be LinkedIn.
The numbers show that the platform isn’t just a good choice for B2B marketers – it’s the best in 2020. The conversion rates are higher and the cost per lead is lower compared to other advertising networks. Plus, there are plenty of ways to find leads for free, and a couple of tools that make the process easy.
This guide will dig into the benefits, the paid and free strategies, and the tools that help streamline lead generation on LinkedIn. By the end, you’ll have a method for generating more leads for less on the platform.
The Benefits of Using LinkedIn for Lead Generation
Why bother with LinkedIn? Why not focus on generating leads with search engine advertising, display networks, or more high-traffic social media platforms like Facebook or Twitter?
Simply put, LinkedIn is where professionals go to level up in business. The average user might log on to stay informed about what’s happening in their industry, look for new employees to add to their team, or seek out tools that can optimize their team’s workflows.
If your business offers a solution to their needs, LinkedIn is the best environment for attracting their attention.
There are a few other reasons why LinkedIn is the best place to generate leads for B2B companies:
It’s made up of professionals with purchasing power
Over 20% of LinkedIn users can make buying decisions for their companies. That’s at least 61 million senior-level influencers and 40 million decision-makers that your business could be connecting with. It’s also the most-used social media platform amongst Fortune 500 companies, so there’s a good chance your target audience is already on the site.
Its users are extremely active
LinkedIn has over 500 million total users, and over half of them (260 million, to be exact) actively use the platform every month. Of those 260 million users, 44% log on daily. That means a lot of potential leads to engage with on a regular basis.
It generates the most leads
Those 100+ million decision making users are proven to take action. The site’s own content marketing blog ran the numbers and found that 80% of B2B leads generated through social media come from LinkedIn.
There are plenty of case studies to back up the claim, too. Simplus, a Salesforce partner, says that 70% of their website form fills have come directly from LinkedIn. NetBrain Technologies Inc. doubled their click-through-rate with LinkedIn ads and saw 94% of leads generated accepted by sales.
It can convert more leads for less
There are ways to generate leads on LinkedIn for free, but even if you go with a paid strategy, you could save big compared to running a similar ad campaign on a search engine or another social media platform.
HubSpot aggregated all of their customer’s results with LinkedIn Sponsored Content and found that while the ads have a higher cost-per-click than Google Ads, they also have double the conversion rate.
With a $1,000 ad budget, you could generate 11 conversions for only $90 each on LinkedIn, while the same budget with Google Ads would generate 8 conversions for $125 each.
Its targeting audiences are tailor-made for B2B lead generation
LinkedIn Ads allow marketers to get extremely granular about the audiences they want to target. These are just a few of the many targeting options:
- Company industry
- Company size
- Company name
- Job title
- Job function
- Job seniority
While competitors like Facebook Ads also allow marketers to target users by employer and job title, workplace networking is not the primary purpose of the platform. It’s possible that some users may not be listing their employment info at all, making this a less than ideal channel for reaching target audiences.
It’s the go-to choice for B2B marketers
According to the Sophisticated Marketer’s Guide to LinkedIn, 94% of B2B marketers use LinkedIn to distribute content. This means that either a lot of B2B marketers are wrong, or a lot of people are on to something.
In either case, you’d be remiss to pass up on what 94% of your competitors are already taking advantage of.
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