Many businesses consider LinkedIn to be a purely job-searching platform. Over 40 million people use LinkedIn for solely this purpose, but the true potential of LinkedIn lies in its business development and marketing capabilities. LinkedIn is a powerful platform for businesses of all sizes to connect with potential customers and partners. It’s the perfect place to post company information, job openings, blog content, and more.
One of LinkedIn’s unique selling points is its vast array of professional networks. Members can join different networks based on their industry or profession, which gives them access to new people and ideas they wouldn’t find anywhere else. This network knowledge can be extremely beneficial when marketing your business online or offline.
LinkedIn also has great tools for tracking leads and converting them into sales opportunities. Its Pipeline feature lets you see how many contacts you’ve made so far, where those conversations are going (via email addresses), and what actions you need to take next in order for the conversions to happen (such as sending an email follow-up).
According to Hootsuite, 4 out of 5 people on LinkedIn “drive business decisions”
LinkedIn, with a well-planned marketing effort, can assist businesses unlock many opportunities such as:
- Boosting brand awareness
- Improving the search engine index of the brand page
- Increasing the number of users who visit the company/brand page
- Accelerating sales volume through targeted prospects
- Running effective campaigns to target industry influencers or market segment leaders
- Generating lead generation opportunities at a low cost
- Increasing traffic to the company website from LinkedIn pages
And much more….
LinkedIn is one of the most popular social media platforms today, and its use has only increased in recent years. Founded in 2003 by Reid Hoffman, LinkedIn quickly became a powerful tool for professionals looking to connect with other professionals. Today, it remains one of the best platforms available for branding and marketing purposes.
There are numerous reasons why LinkedIn marketing is so successful. First, LinkedIn’s rich database offers millions of founders, CEOs, and business enthusiasts posting success stories, brand content, marketing strategies, and other topics to connect with a range of professionals. As a result, this allows you to target your audience more effectively than any other platform available today. Additionally, it makes it easy to create captivating content that will engage your target audience
But how do you determine the success of your LinkedIn Marketing strategy in the sea of content pushed out every day?
The answer is simple – by tracking LinkedIn marketing Key Performance Indicators (KPIs)!
If you are wondering what KPIs to track, this blog is for you!
LinkedIn Marketing: Top KPIs
1. Content Engagement
This KPI provides an overview of how your visitors and followers react to your posts. You must monitor the number of likes, clicks, shares, mentions, and comments as these are direct audience responses to your content.
If the LinkedIn algorithm sees the audience is engaging with your posts, it rewards the content quality by distributing it across a bigger segment for a longer time. More engagement equals a higher expectation of growth, and therefore it is essential to focus on this as the primary KPI. Through this data, you can determine which of your posts have a higher engagement ratio and try posting similar ones to improve reach on LinkedIn.
2. Brand Mentions
This KPI provides insight into people and brand pages who have tagged you in their posts. It also represents the ability to generate revenue for your brand via social promotion, which is another good thing. The more your content gets tagged, the greater the content reach. This is another way of creating your brand influence to get more footfall from the audience. It’s a good way to track general growth and brand awareness.
3. Followers Growth
This KPI offers a detailed overview of the number of followers your brand has on LinkedIn. It helps businesses keep track of the number of followers they have gained and lost in a given time frame. Using this in the context of a content calendar, you can understand what drives traffic to your page and what pushes people away. Comparing these statistics with your competitors can also give you a clear idea of where you stand and what needs to be changed in your marketing campaign to attract more followers.
4. Impressions & Unique Impressions (Reach)
A critical KPI for tracking your marketing activities on LinkedIn is impressions. Impressions are the total number of times people have viewed your page, whereas unique impressions tell you how many unique visitors have visited your page. We also know unique impressions as Reach.
It is an important metric because it lets you know how many unique individuals see your content. The goal of every activity is to convert a visitor into a customer. So, the more the number of people viewing your page, the greater the opportunities for you in terms of winning more customers.
The higher the number of visitors, the more significant the chances of building your business on the platform.
5. Demographics of followers
This LinkedIn KPI provides an insight into the people following your page. You can find information about the follower’s name, location, professional titles, location, gender, interests, etc.
It tells you who all are taking an interest in your brand content. It conveys information about your followers and where they are coming from. With the help of this information, businesses can curate relevant posts to target specific demographics.
6. Page Views
Pageviews on your LinkedIn profile are one of the important metrics you can use to measure your success as a LinkedIn user. By tracking page views monthly or yearly, you can see how your network is growing (or shrinking), what types of content is resonating with your audience, and which strategies are working best for building connections and engaging with prospects.
Keep in mind that not every view means someone actually clicked through your page – some could just be people viewing your profile without clicking anything else. But overall, tracking Pageviews allows you to optimize your LinkedIn profile for maximum visibility and engagement!
7. Click-Through Rate
The click-through rate (CTR) measures how many clicks an ad receives compared to the number of times it was displayed. This helps brands determine which ads are performing well and which ones need improvement.
There are several factors that influence CTR, including Ad Copy Quality, Image Sizes and Placement, Clicks vs Impressions Ratio, Age Group Distribution etc… but all of them play an important role in determining whether an ad will generate leads or not.
So what’s the best way to improve your LinkedIn Ads CTR?
The first step is to ensure that your ads are written correctly and target your desired audience accurately. Next, make sure your images are high quality and sized appropriately so they’ll stand out from competing ads. Finally, pay attention to clicks vs impressions ratio; if there’s a large discrepancy between these numbers then you may need to adjust where or how you’re displaying your ads.
8. The social selling index (SSI LinkedIn)
The SSI LinkedIn measures how well LinkedIn is being used by sales teams to find new leads, referral sources, and customers. The higher the SSI score, the more effective LinkedIn is at helping sales teams reach their goals! This simple metric can help businesses measure their progress and performance when it comes to social selling. The SSI is based on the following four metrics:
– Engagement rate – Calculates how often users are engaged with your posts and profiles.
– Reach rate – Calculates how many people see your posts/profiles in their feed.
– Share rate – Calculates how many times your content is shared on LinkedIn by other users.
– Like rate – Calculates how often users like or share your content.
How does it work?
Your score is calculated based on several factors (active participation, activity level, and contribution quality), which are all rated on a scale from 0-100/100. A less active user collects a score varying between 10 and 30/100 while a more active person can easily reach 80/100. The minimum score to aim for is 60/100.
Once you’ve reached this benchmark, continue increasing your skills by participating in group discussions or writing articles that add value to other members of the community. You’ll be surprised at just how much progress you can make with minimal effort!
9. Conversion Rate
Over the past few years, LinkedIn has increased its focus on conversion optimization, which means increasing the number of leads or sign ups that result in an eventual sale or engagement. This number tells you how many people who saw your content (either through organic search results, links from other LinkedIn users, or promoted posts) converted into customers or leads over the course of a given period of time.
To increase your conversion rate, make sure you are targeting the right audience with the right type of content. You want to produce high quality content that meets both your company’s needs and its target market’s expectations. Make use of SEO optimization techniques to ensure that your content appears first in Google when someone searches for relevant keywords related to what you offer.
One important KPI that LinkedIn marketers should be aware of is Cost-Per-Conversion (CPC). This metric measures how much money a business is spending to bring in new customers versus how many leads it’s generating from existing customers.
Knowing your CPC gives you valuable insight into your marketing efforts and shows whether or not you’re achieving your desired results. By understanding which campaigns are generating the most engagement and leads, you can adjust your strategy accordingly.
Furthermore, knowing which channels are performing best for your company will help you prioritize resources where they are most needed!
LinkedIn is continuously growing and adding different features to maximize its reach amongst diverse demographics around the globe. Stay one step ahead by analyzing your data and getting the most out of it. The KPIs mentioned above will help keep track of your company’s growth and expand your reach on the platform.
How INSIA can help
While LinkedIn Campaign Manager gives you a general picture about your data through KPIs such as impressions, reach and engagement metrics, it is limited in what it can do for you. Optimize your LinkedIn marketing strategy by integrating it with INSIA’s advanced AI-powered, self-serve analytics software. Create and customize unlimited dashboards that are suited to your needs. A robust business intelligence tool like INSIA can help your small business grow to its full potential. INSIA is designed for non-technical business users that integrates your data from multiple sources (like Facebook, Instagram, LinkedIn, Excel, MySQL, and many more) and lets you create visually appealing reports through a Google-like search bar. Connect to INSIA in a couple of clicks and monitor your business performance & the ROI on your marketing decisions with pre-built plug-n-play KPIs and automated dashboards. Click Here for a free trial!