Making Money with LinkedIn
Updated: June 12, 2018
Making money with LinkedIn became real, as over the years LinkedIn turned into a powerful tool to search for colleagues and partners, groups and companies, owners, managers, investors, Internet marketers, etc. And because of its efficiency it has become very popular and now has more than 85 million members.
Many marketers and companies use LinkedIn to promote their business. On their LinkedIn pages they often provide information about their products and services, some of which contain links to websites. This can help you get potential customers and business partners. LinkedIn also allows you to post information about different events. By means of these posts, you can increase the traffic to your events and get more customers.
By showing constant activity on LinkedIn business social network you’ll increase your chances of getting big and quality traffic. Participate in the group’s discussions that are relevant to your business, be active, give sensible advice and show your professionalism. In the groups you can get some advice from other professionals. Collect feedback from your clients. All of this will mean making money with LinkedIn.
So, here we discuss:
- About LinkedIn in Brief
- LinkedIn Advertising and Pricing Model
- Mastering LinkedIn for Money Making
- Conclusion and Notes
1. About LinkedIn in Brief
LinkedIn is the world’s largest social network for business communication, with more than 450 million users from 200 countries and regions.
LinkedIn mission is to unite specialists around the world for their professional activities more effective and successful. When you join LinkedIn, you get access to information about people, vacancies, news updates and other valuable information that helps you in your profession.
LinkedIn can help you build your brand, raise awareness, and generate leads. In particular, it is very good to:
- Boost your content to the world’s largest professional audience on the desktop, smartphone, and the tablet
- Reach your target audience with content valuable to them right in their LinkedIn Inboxes
- Grab attention with dynamically generated, personalized display ads
- Run desktop display campaigns that drive brand awareness and keep you in prospects’ minds
- Drive high-quality leads within the budget you choose using our self-service advertising platform
2. LinkedIn Advertising and Pricing Model
a) LinkedIn Ads
LinkedIn Ads operate on CPC (cost per click) and CPM (cost per thousand impressions) basis.
Each type of ad will be shown as a suggestion on the right side of LinkedIn pages. So, LinkedIn allows you to show your ads only to people with specific qualifications or position, for example, to the programmers, or to the marketing managers, etc. It allows you to spend your advertising budget effectively.
Advertising on LinkedIn – is very clever advertising, as when setting up your campaign, LinkedIn primarily verifies – are there any groups that could be useful for you. This is important, as in groups people spend a lot of time, and that is where they discuss their interests, business issues and problems.
b) LinkedIn Pricing Model
The cost of advertising campaigns on LinkedIn can be monitored in two ways:
- By setting rates (the maximum amount you’re willing to pay for each individual click or per thousand impressions)
- By budgets (the maximum total amount that you are willing to spend per day).
There are 2 types of rates: the CPC and CPM
- If you are using cost per click (CPC), you specify the maximum amount you are willing to pay for each click (e.g. 3,00 USD). Then you can set a daily budget that determines the maximum amount you’re willing to spend per day.
- If you use CPM (CPM), you pay a fixed amount for every 1,000 ad impressions, regardless of the number of clicks. This option is recommended if you are more interested in the number of ad impressions, not clicks.
The minimum cost:
- The Minimum daily budget is 10 USD.
- The minimum CPC bid text ad on LinkedIn is 2,00 USD per click. The minimum bid for sponsored updates depends on the target audience.
- Minimum bid CPM for text ads on LinkedIn is 2,00 USD per thousand impressions. The minimum bid for sponsored updates depends on the target audience.
- Minimum daily budget (optional opportunity for sponsored updates) is 10 USD.
To get started with advertising, it is necessary to make a one-time fee of $ 5.00, which is getting credit for placement of ads to pay for the first clicks or impressions after placing the ad.
3. Mastering LinkedIn for Money Making
If you decide to use this powerful social network to promote your business, then you have to learn and master it very well to know exactly how to make money on LinkedIn. In this case, you have two options: either using LinkedIn guides to study the subject, or take part in a special program (s) and learn from the experience of others.
For many Internet marketers the second way is preferred, as self-study may not lead to the knowledge of some important tricks and techniques. In addition, participation in the specialized social marketing programs forces to adhere to a certain discipline and allows follow the specific recommendations and examples. All this will allow you to quickly make money on LinkedIn.
Below we present a short list and brief description of the best programs for making money with LinkedIn. Of course, you’ll have to spend some money to take part in such programs, but they will pay off, as you’ll get a lot of experience.
a) LinkedIn for Business
Try to be concise, but include what is your business, its specialties, and what makes your business unique. Include your logo and a banner image to bring your page to life. Your logo appears when members search for profiles. Promote your LinkedIn Page by linking it to your other marketing channels – such as your emails, newsletters, etc.
4. Conclusion and Notes
Many businesses and individuals miss out the opportunities which LinkedIn provides to help grow their business because they’re focusing their efforts on bigger social networks like Facebook and Twitter, and it is not always justified. But LinkedIn is especially ideal both for small and big business as it offers quite some cost-effective ways to market and promote your business. So, making money with LinkedIn may be interesting for you also. Don’t omit this option!
Here are some advices for working with LinkedIn:
Fill out your page completely with all the crucial details of your business. Be sure to put the most major details about yourself or your business on top, so people won’t miss them. Explain exactly what your business is, who your customers are and how you help them. Also highlight your products by filling out the “Products and Services” section of your page
Create a call to action in the summary section. Write it in brief to explain people who land on your page exactly what it is you’d like them to do. Maybe you want them to email you or visit your website to sign up to your mailing list. Whatever it is, make it very clear
Highlight your expertise, as one of the great ways to connect with people is by positioning yourself as an expert in your industry. For example, post articles you’ve written about your business and industry. Also get ideas and suggestions.
LinkedIn introduced two tools to help make your social media marketing a bit smarter: Content Marketing Score and Trending Content. One tool will help you measure your success and the other will give you insight into what successful content looks like, giving you much more context into being successful on LinkedIn than was previously available on the platform.
Use LinkedIn Sponsored Updates, as it provides a better way to put your content in front of key influencers and decision makers on LinkedIn, which will ultimately help you build your credibility as an expert in your niche and increase your exposure to people who are not in your network.
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