Andrea Cruz Reveals the Secret to 10% Or Higher Conversion Rates with LinkedIn Ads
Generating leads for your business through Ads is a common practice nowadays. Several companies are indulging in it. However, there remains a disparity in the results. While some enjoy great conversion rates, others get stuck in paying more than they earn back. This is significantly more relevant to LinkedIn Ads. And the question is why?
Well, when it comes to LinkedIn Ads, they can reach some of the best B2B audience bases. But they can also have some of the highest cost-per-clicks out there. So, how can you optimize them for higher conversion rates?
Andrea Cruz, KoMarketing’s Digital Marketing Manager, spent some time at Inbound 2020, revealing to us tactics that can get you ad conversion rates of 10% or higher on Linkedin! From best practices for a specific audience to the best ad types of lead generation, she’s got you covered.
So, let’s dig into this review of her Inbound session and see what we can learn about optimizing LinkedIn Ads. More importantly, how we can fix our current Ads and set them up for higher conversion rates.
Audiences: Test Different Variations
When it comes to audiences, LinkedIn is by far the most powerful social platform out there. There’s no other platform that allows you to target people the way LinkedIn can.
On LinkedIn, you can target people based on their company, demographics, education, job experience, interests, skills, list uploads, and a lot more. Essentially this allows you to target the market precisely, without the hassle of filtering out the wrong people.
Every year, LinkedIn adds more targeting settings that can allow you to be even better.
However, most businesses tend only to use job titles for the filtering process. And they don’t realize that anyone can type in any title for their jobs. Hence, it doesn’t provide the algorithm with the most useful information.
Things To Do
So, the big question here is: how can you better target audiences?
Andrea Cruz has the answer for you. Cruz recommends using a few specific ways to filter out audiences on LinkedIn. These ways are listed below:
Seniority and Job Function
When you filter out your audience according to seniority and job function, you can target people according to their level of expertise and position. For example, this would work great if you wanted to target marketing managers and directors specifically. But if that’s a category too broad for you, then let’s move on to the next one.
Job Function and Skills
For example, if you’re looking for particular people, engineers who specialize in cybersecurity – this option would work well because you can exclude civil/electrical engineers and only target the ones you want. It’s just an example of the way you can target particular groups and exclude the rest.
According to Cruz, another under-utilized combination is that of seniority and member growth. When you know what people you want to reach but don’t know what the titles are, you can use this combination to target them.
For example, if you’re looking for security and safety people, you can target groups associated with that field. And if you further only want to target entry-level people, you can use the ‘Seniority’ feature to specify that.
Another exciting way you can target audiences is by targeting the top 50 to 150 accounts that you and your sales team may want to sell to. As Andrea mentions, this wouldn’t just help you connect with the right people, but you can also make your team happy in the process.
They can invest time and money into the accounts they’ve been trying to get for a while, and these accounts are usually very relevant to your business.
Things Not To Do
Meanwhile, there are also some things that you should NOT be doing on LinkedIn, and can save you a lot of time and money.
Wondering what those are? Take a look below:
Broad Audience Expansion
Linkedin is a network with a plethora of particular individuals. So, when you can target your niche audience, why would you want to expand to broader ones?
It only wastes your time and money, and indeed, you don’t want that. Moreover, targeting broad audience bases doesn’t have a point when you’re only looking to reach the right and relevant kind of people. Avoid doing that unless they are a part of your target audience, which they usually aren’t.
Many people fail to realize the benefit that can come from excluding any unwanted traffic – such as your employees, your competitor’s employees, a client that the content isn’t related to, etc. By doing so, you can ensure that your efforts are focused and narrowed down only to the relevant people and that you’re not wasting ad money on others.
Ad Format: Keep It Simple
There are a lot of options when it comes to ad formats. You can opt for creating elaborate Ads or adding detailed visuals to it. However, that might not be the right thing to do in Andrea’s opinion, which recommends keeping things simple.
Sponsored Content & Lead Generation Forms
With sponsored content, the reader usually sees your ad, ends up on your landing page, and probably reads some of your material. And while this may seem like a good thing, most B2B websites are usually not very good at generating leads.
To make ads more useful, you can:
- Set up a lead generation campaign (such as forms) – to remind the user to take the next action
- Add fields on forms that aren’t pre-populated from their profile, e.g., their contact number or asking them a question.
Creatives: Image, Empathy, and Rotation
When creating ad copies, an important thing to keep in mind is the sequence of how people might be reading those ads. The most critical part of the information is where readers are likely to divert their eyes first, such as the image. Then, secondary ideas should come below or above the image.
You should work out whether to use branded or unbranded photos; however, Cruz recommends not to stick to only one form. It’s essential to have the right balance.
Meanwhile, one of the most crucial aspects of creatives is using empathy to connect to your audience. You can genuinely speak to them by understanding their pain points and showing them you’re listening to them.
That aside, the speaker also emphasized on the need for a proper and efficient ad rotation schedule. When you have the same ads displaying in the same places for too long, viewers are likely to get bored or sick of them. So, it’s essential to rotate your ads every three to four weeks so that you can always have fresh content for users.
Andrea Cruz also talked about a few real-life case studies of businesses that saw excellent results after changing their marketing approach.
Case Study 1: Sponsored Content
- Audience – huge (more than 1 million users)
- Assets and Ads – running the same assets for months, different assets but only two ads per asset
- Results – CPL (cost per lead): Over $230, Conversion Rate: 2.9%
- Trimmed Down Audience Size – focused on seniority and function, plenty of exclusions
- Brand New Content – fresh pieces of content, four ads for the new asset, and ad rotation schedule
- Results – CPL: $42, Conversion Rate: 26%
Case Study 2: Lead Generation Forms
In this case study, the business in question used sponsored content before and then shifted to lead generation forms.
What They Did:
- Tested Audiences – many combinations
- Assets and Ads – created an asset and creative schedule.
- Web Demographic Report – audited every 15 days.
- Conversion Rate – first month: 5.8 %, currently: 11 – 12 %
- CPL – first month: $208, currently: $80 – $100
- AVG CPC – first month: $12.08, currently: $12 – $ 13
So, as you can see, LinkedIn has immense potential to generate leads and convert to sales – all if you know how to target audiences appropriately, use the right ad formats, and optimize visuals for your customers. Many businesses can often undermine LinkedIn’s power to reach people, make meaningful connections, and build potential customer bases.
So, by using the right strategies, you can generate impressively high conversions from the platform. It’s all about being smart with your approach, and using Cruz’s method, you can certainly create a good strategy for your Ads.
We hope you can set your business up for success and increase your conversion rates with the secrets that we’re shared on running successful LinkedIn Ads.