LinkedIn is a powerful channel for B2B companies that want to grow their business and establish themselves in the industry. The platform turns 18 years old in 2021 and the growth on LinkedIn is higher as compared to other social media platforms. This means that little efforts will lead to greater results on the platform, as compared to other social media platforms. In the UK alone, LinkedIn has 30 million plus users and the platform is used by 756 m plus users from over 200 different countries. LinkedIn is also used by 95% of the Fortune 500 companies and the platform has 15 m open jobs (as recorded at the beginning of 2021.)
Why Should B2B Brands Use LinkedIn
While many B2B brands are not leveraging the power of LinkedIn for their business, here are some reasons why LinkedIn should be a major part of your social media strategy:
Every 4 of 5 LinkedIn Members is Responsible for Driving Decisions in Some Form
LinkedIn’s audience comprises of decision makers and buying committees. The platform is perfect for finding high-quality leads for your business with 180 million senior-level influencers, 63 million decision-makers, 10 million c-level decision makers and 7 million high-level IT decision-makers. This high-quality of leads makes LinkedIn one of the most expensive social media platforms to advertise on. But it is worth paying for due to the quality of leads.
LinkedIn Users have Twice the Buying Power as Compared to the Average Web Audience
When compared to the average web audience, LinkedIn users have 2x times the buying power as 44% of LinkedIn users earn above $75,000 per year. Another 26% of the platform users earn between $50,000 – $74,000 USD, making the platform the right place reaching audience with a higher buying power. Both B2B and B2C companies have plenty of benefits if they choose to use LinkedIn to reach their ideal audience due to the high spending power the audience on the platform has.
Balanced Gender Ratio on LinkedIn
The user base at LinkedIn has an almost balanced gender ratio with 54% of users being males and 46% being females. The user base also consists of a higher number of adult users as compared to other social platforms like Twitter, Whatsapp and Snapchat, making their reach even more valuable for B2B and B2C companies. These factors make LinkedIn an invaluable platform for any business.
LinkedIn is Used by 94% of B2B Marketers to Distribute Content
B2B marketers know the value a platform like LinkedIn can add to their business and they use the platform wisely to distribute valuable content that establishes them as industry leaders in their field. It also proves that the return on investment on the platform is high, or else marketers would not choose to spend time and resources on a platform that isn’t effective. The thing to keep in mind though is that your LinkedIn strategy is extremely important to reach the right audience. Research and use some of the best practices in order to maximise your ROI on the platform.
LinkedIn Brings in 80% of B2B Leads
Lead generation is one of the most important goals for any business that is looking to expand. According to Octopost, 80% of all B2B leads came from LinkedIn. To confirm those statistics, Hubspot conducted a study too that revealed that Linkedin generated the x3 higher lead conversion rate as compared to Twitter of Facebook.
Why B2B Companies Have Not Leveraged the Full Benefits of LinkedIn
While the size of LinkedIn is nowhere near that of Facebook, when it comes to the professional niche, there is no other platform as powerful as LinkedIn in the market. But it is often overlooked by businesses with limited resources, as they choose to priorities the other social media platforms. Content creation for various platforms requires a huge investment of resources and this limits B2B businesses from making the most of LinkedIn for business.