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) Linked Influence
Price: $97.00, one payment
The author of Linked Influence is Lewis Howes. He has used LinkedIn social network to build a seven figure online business. We can consider him as an expert on social network advertising.
The Linked Influence is an extremely interesting and useful program to know how to use LinkedIn to promote your business and to make good money. The main thing you’ll learn from this program is how to attract a big number of clients and how to drive targeted traffic to your website. You probably know that LinkedIn has over 430 million members and it holds the record for the highest average household income over all other social networks. So, there are many potential buyers and this makes LinkedIn the best social media for business.
There are 4 main modules in the program:
- Module 1. It is all about putting the basis which contains things like how to improve a LinkedIn profile for optimum exposure
- Module 2. It includes all aspects of utilizing LinkedIn to develop an audience which includes things like how to use LinkedIn to create an email list, and others
- Module 3. It speaks about use of LinkedIn to get it to the next level. Here they suggest things like how to be connected with customers, preferred business partners, as well as things like how to land the career chance of someone’s goals
- Module 4. It teaches folks how to develop a company using LinkedIn. This module includes things like how to build a company page, how to use of LinkedIn’s ‘question and answer’ feature, and how to generate targeted traffic to a website or blog
The program also includes a substantial set of bonuses and 60 days money back guarantee.
You can also explore the training programs for LinkedIn money: LinkedOn Autopilot
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.