If you run a B2B business, you’ve probably heard of remarketing on LinkedIn. If you haven’t tried it yet, you miss a big chance of generating revenue on Linkedin.
The importance of remarketing on LinkedIn
For those of you unfamiliar with the term “remarketing”, think of it as a “second chance” to impress a potential customer. Essentially, this means reconnecting with a user who has previously interacted with your brand.
Suppose you have a website that sells marketing campaign automation. Someone is reading your blog article but is not contacting you to inquire about your services.
If you don’t do anything about it, you are losing a valuable lead. By displaying an additional ad to him, you get an additional opportunity to attract a customer.
LinkedIn Remarketing follows the same principle. Implements technology to track the behavior of users who have visited your website, so you can send ads directly to their board on Linkedin.
LinkedIn remarketing can be very effective. See what it looks like in data and numbers:
• According to research, click-through rates (CTRs) for display remarketing are 10 times higher than for regular display banners.
• Visitors to your marketing site using Display Ads are 70% more likely to convert.
• Remarketing ads provide 1.046% increase in trademark search behaviour.
Using LinkedIn remarketing can be very beneficial for B2B companies that advertise to other professionals. Here are some industries that can get good results from LinkedIn remarketing:
• Office furniture/supplies
• Computer software
• B2B services
• Financial services
• HVAC construction and commercial work
• Development courses
• Job offers
• CV/interview preparation
• And much more
The most important thing is that Remarketing on Linkedin can increase your sales.
Why LinkedIn remarketing can work for your business
LinkedIn users spend around 2 hours a month on the platform. They are warm leads because they are professionals and can be open to the products and services you sell.
The purchasing power of LinkedIn members is twice as high as on other social networks. Additionally, 4 out of 5 LinkedIn members are business decision-makers for the company. As a result, your LinkedIn remarketing ads have a better chance of turning into sales compared to any other platform on the web.
Here are the latest discoveries about remarketing ads on LinkedIn:
• Targeting your followers increases the click-through rate by 37%
• Increase of click-through conversion rates by 32%
• CTR increase by 30%
• Cost per click to convert drops by 14%
• Cost per click to convert drops by 4.7%
Importance of Matched Audiences
When looking at remarketing on LinkedIn, you’ll often come across the phrase “Matched Audiences.” This phrase covers all LinkedIn remarketing options.
Matched audiences allow you to reach customers or potential customers who already know your brand.
Take the chance to re-reach potential customers who have previously visited your website. All this is possible thanks to advertising on LinkedIn.
Best practices for remarketing on LinkedIn
To be successful in B2B with LinkedIn advertising, here are five best practices to follow:
1. Define your goals
Before running LinkedIn ads, it’s essential to be clear about your goals. Ultimately, what you want to achieve with your ad campaign will determine which ads you need to show. Here are some great goals for your LinkedIn remarketing campaign:
• Acquiring new leads
• Brand awareness
• Create a contact list
2. Use the CPC bidding option
With over 700 million users on Linkedin, LinkedIn’s ad space is saturated. This means that companies must submit higher bids to remain competitive. According to AdStage’s Q1 2019 comparative report, the average CPC of the combined advertisers is $ 3.99 compared to the median CPC of $ 0.63 on Facebook.
That said, you can implement a number of effective strategies to increase your conversion rate.
The main goal of LinkedIn is to connect people interested in contacts from the business world. This means that LinkedIn would not be suitable for advertisers who are more focused on consumers and B2C markets. For B2B companies looking for other professionals, LinkedIn has many targeting options, such as:
• Email List – Advertisers can contact LinkedIn users who match their corporate email list.
• Remarketing List – Advertisers can remarketing their products or services to users who previously interacted with their website.
• Demographics – Create an audience list by specifying interests, age and location.
• Company and Job – Companies can navigate to the company and user position profile, including industry, company size, company name, and job title.
4. Select the appropriate ad type
Advertisers have different options to achieve certain goals with different types of ads. A campaign can fall into one of three ad types. They include:
• Sponsored InMail – Advertisers can use LinkedIn’s internal messaging system to send personalized messages to their target audience. This allows advertisers to contact their audience in more detail and directly.
• Text ads – Text ads help advertisers compose short messages and insert a company logo. This is a great option to promote brand awareness.
• Sponsored Content – Contains an image and multiple lines of text. Advertisers can even attach a form to their ad to build a contact list.
5. Always test your ads
Always try new copies of your ads to see how text and images connect with your target audience and ad message. Ad testing will also keep your ad text up-to-date so that users don’t have to see the same ad more than several times.
For companies that target only a small group of people, paying attention to the duration of an ad’s run will ensure that a single user is not repeatedly exposed to the same ad. Maintain a consistent ad rotation schedule.
Keep your content up-to-date by constantly changing elements such as ad text and images. This will eliminate the likelihood of ad fatigue and increase your click-through rate.
It is likely that more than 90% of your website visitors will leave your website without responding to a call-to-action or form filling. With the help of LinkedIn remarketing, you can make sure that these prospects don’t sneak out without getting a few extra chances to respond.
You have to admit that this platform is different from other social media platforms like Facebook and Instagram.