In the professional world, LinkedIn has become a ubiquitous presence. With over 750 million users in 200 countries across the globe, LinkedIn serves as a massive professional network for business-minded individuals all over the world. Many of these users hold the power to impact decisions at their respective companies making LinkedIn an ideal platform for B2B marketing campaigns.
LinkedIn advertising is frequently utilized by KLIK for our clients. We approach it the same as all our other paid advertising efforts – with a data mindset. LinkedIn makes it easy to test locations, demographic targeting, and creative assets allowing us to optimize our paid advertising efforts to the KPIs agreed upon with our clients.
Do you think LinkedIn Paid Advertising would work for you? Here are some tips to get you set up in LinkedIn:
Choose your Objective
Are you trying to drive users to your website? Are you trying to sell a good or service? Do you just want to increase brand awareness? LinkedIn offers multiple objectives for driving awareness, consideration, or conversions. While KLIK offers services for awareness and consideration, we most frequently track conversion data for our clients and rely on Lead Generation and Website Conversion objectives.
1. Lead Generation
This objective utilizes in-platform lead generation forms with pre-filled fields and multiple-choice questions. Users can submit their information and become a conversion in just a couple of clicks without leaving the LinkedIn platform!
2. Website Conversion Objective
This objective optimizes for an action on your website that you deem important. This could include completing a purchase, downloading a whitepaper, starting a trial, etc.
Choose your Targeting
Once you have set your objective and chosen your ad format you can now choose who exactly to target. This is a vitally important step that can have a large impact on the performance of your LinkedIn Ads. Thankfully, LinkedIn offers multiple ways to target users on its platform through demographic targeting, matched audiences, and the LinkedIn Audience Network. At KLIK, we utilize a mix of these targeting options on a case-by-case basis depending on what is best for the client.
1. Demographic Targeting
Since users have professional incentives to keep their information up to date on LinkedIn, demographic targeting on the platform tends to be more accurate. This helps ensure that you are reaching a high intent audience. You can target users based on demographics including industry, skills, job function, seniority, and more.
2. Matched Audiences
Matched audiences allow you to target specific users, not just those that fit into certain criteria. This can be done by creating audiences within the platform based on a list of companies, a list of email contacts, or retargeting those that have visited your website.
3. LinkedIn Audience Network
The LinkedIn Audience Network allows you to reach users not only on the LinkedIn platform but also users across thousands of partner apps and websites. This can be used to expand audiences and increase spend.
Choose your Ad Format
LinkedIn offers different ad formats depending on the Objective you choose for your campaigns. Here are some of the most popular ad formats we use for our clients:
Single image ads populate within LinkedIn feeds on both desktop and mobile devices. They are composed of one image, a headline, an introduction, an optional description, and a call to action.
Carousel ads are similar to single image ads but are composed of between 2 and 10 images, a specific headline per image, and a specific introduction per image. These are great to showcase multiple value props & tell a story about your brand.
3. Message Ad
Message ads are unique placements that show up in users’ message inboxes. They are composed of a subject, text, footer, and call to action. In general, they have a more personalized feel since they show up in your inbox and appear to come from another user on LinkedIn on behalf of a company.
Set your Budget
For each campaign on LinkedIn, you will want to set a budget to ensure you are spending enough to drive desired results but not overspending. There are a few ways to set your budget including lifetime, daily, and campaign group budgets. It is also important to understand how you are being charged when setting your budget. LinkedIn uses objective based pricing, which means you will be charged differently depending on the objective and placement you choose.
1. Lifetime Budget
Lifetime Budgets are the total amount you will spend on a campaign within a set start and end date. With a lifetime budget, daily spend may vary but the overall budget will not be exceeded.
2. Daily Budget
Daily budgets are set at the campaign level and utilize either a continuous or set schedule. If you do not set an end date on your campaign, LinkedIn will use a continuous schedule based on a Monday through Sunday week. While daily spend may vary over that week, your campaign will not spend more than 7 times your daily budget within a week. If you do set an end date, your total campaign spend won’t exceed your daily budget multiplied by the number of days left in your campaign. Spend will still fluctuate day over day. In both scenarios, daily budgets can be exceeded by as much as 50% in a single day.
3. Campaign Group Budget
Campaign group budgets act as a limit on spend for all campaigns within a singular campaign group. This can be used in addition to setting campaign daily budgets.
Set your Bidding Strategy
LinkedIn Advertising is done through a second price auction, which means the winning bid on any audience will pay $0.01 more than the second-highest bidder. LinkedIn offers both manual and automated bidding strategies, giving marketers the option to have as much or little control on bids as they want.
1. Maximum Delivery
Maximum delivery bidding gives all of the control to LinkedIn’s automated system. The platform will adjust bids on its own to reach goals.
2. Target Cost
Target Cost is another automated bidding strategy. It allows you to set a goal cost per result. LinkedIn’s system will then make automated bid adjustments to reach your set goal.
For those that want the most control, Manual bidding does not utilize any automation and instead relies on marketers to adjust campaign bids themselves. With more control also comes more responsibility in monitoring performance and making real-time optimizations. KLIK’s ability to accurately read funnel performance and make data-driven decisions allows us to take advantage of manual bidding to make needed bid changes.
Once your campaigns are set up in LinkedIn, it’s important to closely monitor performance and make optimizations. At KLIK, we analyze data to monitor pacing, targeting, and creative performance both in platform and in Tableau. Based on that performance, we implement adjustments or give recommendations to our clients. However, optimizing on the LinkedIn platform does not require outside data platforms. LinkedIn has in-platform resources to help you understand how your campaigns are performing.
1. Campaign Manager
LinkedIn offers real-time data on performance within the same campaign manager used to build and edit LinkedIn advertisements. This data includes key metrics including clicks, impressions, click-through rate (CTR), conversions, cost per conversion, etc. If you are trying to look at performance over a period of time, data can also be easily exported into a .csv file.
2. Audience Insights
Within the platform, marketers can utilize LinkedIn Audience Insights to analyze aggregated data on job title, industry, job seniority, job function, company, company size, location, and country. This can be helpful in understanding whether your targeting strategy needs improvement.
3. Linkedin Client Solutions Managers
One of the best resources for making optimizations within LinkedIn is utilizing a LinkedIn Representative. For certain clients, LinkedIn offers representatives that will work directly with you to improve performance, ideate new campaigns, and problem solve any issues that may arise. Though not always available, KLIK has a good relationship with LinkedIn and works closely with Linkedin Client Solutions Managers.
For more information about advertising on Linkedin, LinkedIn has a robust business center for marketing professionals with helpful articles on use cases, specs, and best practices.
Do you need help building out your Linkedin Advertisements? Find out how KLIK can assist you.