Are you looking around to understand more about the types and benefits of LinkedIn Ads? You are right where you should be. Here we will be listing both the types of LinkedIn Ads as well as the benefits you can attain from this platform.
As one of the most famous Social Selling Evangelists, Jill Rowley, rightly said “ LinkedIn is no longer just an online resume. It is your digital reputation.”
According to OmniCore Agency (• Linkedin by the Numbers (2021): Stats, Demographics & Fun Facts (omnicoreagency.com)), LinkedIn boasts a user base of over 766 million users that includes over 10 million C-suite members, 90 million influencers of senior-level, and over 60 million of decision-makers.
All in all, LinkedIn is a pretty crucial social media platform that the companies cannot ignore, especially if you are in the B2B (business-to-business) sector. The benefits that LinkedIn has to offer are way beyond just the audience size. It also encompasses features like budget, ad types, targeting options, and a lot more.
Keep reading ahead to understand why LinkedIn can really be a smart choice for your company. Let us get started with the types of LinkedIn Ads.
It is pretty easy to create ads through LinkedIn Campaign Manager. Below mentioned are the different ad formats served by the platform:
1. Sponsored Content
In simple terms, sponsored ads are those LinkedIn posts that are promoted. There are a total of three formats that are offered viz carousel, video, and a single image. This type of ad is great if engagement is your goal.
2. Direct Sponsored Content
The main difference between sponsored content and direct sponsored content is that these ads don’t get published on the page feed, but they look like how a regular post looks. The best part about this is you can be tailoring the ad in order to target a particular set of audiences. Without the need of mucking up a page, you can also test various iterations.
3. Sponsored InMail
In this format of advertising, the target messages are delivered to the inbox of LinkedIn-members. These formats are pretty great when it comes to driving the conversions in comparison. It is important to know that the members also have an option of opting out of receiving the InMail ads.
4. Text Ads
These ads appear at the top banner and right rail of the desktop. These ads include a small-sized square image, blurb, and short headline. You can measure these ads by cost-per-impression and pay-per-click.
5. Dynamic Ads
These advertisements too appear on the right rail and also look similar, but there is a crucial difference. Every advertisement can target the viewers uniquely with the address and profile photo then by the name. The ad formats offered in this category are company spotlight ads, content, job, and follower. For the creation of these ads, you need to contact a LinkedIn representative.
6. LinkedIn Audience Network
This feature allows the advertisers in targeting the desired audience with the help of sponsored content on the thousands of partner websites and applications. This feature can be enabled by creating the campaign in a way that the ad can be seen in other places outside the LinkedIn.
7. LinkedIn Advertising Partner Solution
This program can partner a business with the handpicked companies having the expertise so as to help you with meeting the marketing goals. This can prove to be incredible and effective to scale the campaign or boost the engagement.
Now that we know the types of ads let us talk about the benefits of the LinkedIn ads have to offer to your business.
Below mentioned are the benefits served by the ads on this platform:
1. Access To A Humongous Volume Of Audience
With the user base of over half a billion. The users on the platform share a massive level of information that includes skills, position, location, work experience, and a lot more. This platform lets you have access to a substantial audience with precise information. With most of the users updating the profiles on a regular basis, you can lay hands to recent details.
2. Targeting The Audience With Precision
The platform offers incredible benefits by offering the users advanced options for targeting. It becomes easy to target the users by professional interests, degree, industry, company name, job title, location, and much more. This way, you can narrow down targeting only those who matter. You thus get the most out of what you spend.
3. Customization Of Budget According To The Business
Here on this platform, you can tailor the budget according to the business. You can adjust the bids and budget right according to how your campaign performs, and this way, you can maximize the results you get out of it.
4. Directly Connecting With The Individuals From The Target Audience
The Sponsored InMail ad format lets you send the members of your audience customized messages. You can motivate them to purchase your services or products, encourage them to register or sign-up for an online or in-person event, or even invite them for downloading a white paper, app, or ebook. You can also enhance your video views this way.
5. Support The Account-Based Campaigns For Marketing
The platform is designed in such a way that it can support the ABM marketing and thus can work wonders for those companies in the B2B industry. Advertising on LinkedIn can fetch you massive payoff as you can take the advantage of the personalization options so as to tailor the ads to the account.
6. Creating A Wide Advertisement Variety Ranging From Text To Video
One of the massive benefits of advertising on this platform is the ad options it has to offer. You get a plethora of options to choose from display, carousel, dynamic and video ads to text, sponsored inmail, and sponsored content ads. Every format has its own benefit, and you can always update a campaign to different types of ads.
Dynamic ads can help you with the personalized approach; on the other hand, carousel ads can offer your audience a visual approach. It is best to figure out which ad format will work best for you by reviewing every format before launching a campaign.
LinkedIn offers four bid types viz: CPC, CPM, CPS, and CPO.
CPC stands for Cost Per Click and the average cost is $5.26 per click.
CPM stands for Cost Per Mile and the average cost is $6.59 per thousand impressions.
CPS stands for Cost Per Sale and the average cost is $0.80 per send.
CPO stands for Cost Per Open and the average cost is $1.70 per open.
The three main factors influencing the cost of LinkedIn ads are:
Ad Relevance Score, Bid, And Target Audience.
One of the main reasons why LinkedIn ads are super expensive is that they are meant for B2B advertising. They offer an extensive network of companies and professionals. Over the time the platform has turned into a super useful tool for marketing. With LinkedIn Ads, it becomes super easy for creating a user base that click on your ads and is then redirected to your company page.
Though LinkedIn ads are way more expensive than the Twitter and Facebook ads, they are still worth the cost. It is super easy to create a successful Linkedin Advertising Campaign.
A LinkedIn account can prove to be a road to a plethora of opportunities but the paid ads broaden this road of reaching the epitome of the website visit by users because it can help you in reaching out to the prospective customers as well as the business associated. You can also capitalize through these connections you make on LinkedIn. So all in all, if you can sustain the budget required for the LinkedIn Ads then it can prove to be a great investment for the purpose of Brand Awareness.
Hopefully, this article helped you in understanding how you can maximize your benefits with advertising on LinkedIn. The platform has a plethora of benefits to offer for the advertisers ranging from multiple ad formats, lead generation, and accurate data of audience to expansive user base and high conversion rates. It has a really high level of accuracy and targeting to offer that cannot be matched by any other platform.