Successfully Advanced LinkedIn Ads for B2B Ventures
If you’re a digital marketer or in the business niche, you’d know that establishing a business in the 21st-century demands for you to have a substantial online presence. While this is quite a straightforward task on mainstream platforms such as Instagram and Facebook, it becomes a little more complicated on something like LinkedIn. And that is primarily because of the targeted nature of the platform.
LinkedIn offers a profitable ad scheme. However, it employs a complex algorithm, and to fully benefit from LinkedIn, you must have a considerable grasp of it. AJ Wilcox, the founder of B2Linked.com, gave a presentation at Inbound 2020 to make this more comfortable for you. AJ, a LinkedIn ads expert, shared some useful tips on utilizing LinkedIn in the best way possible.
AJ thinks that LinkedIn ads can be an excellent option for expanding your business and developing a credible online presence. However, it comes with its set of challenges that must be overcome for your ad campaign to be successful! Let’s have a look at everything that AJ had to share with us.
Why Is LinkedIn So Risky?
AJ recognizes that venturing into LinkedIn’s advertising side can be quite a daunting experience, especially considering how risky it is. Why is it risky? Well, according to AJ, here are just a few aspects that make LinkedIn Ads quite a risky option for any business:
Advertising on LinkedIn involves a relatively higher cost than other platforms. It requires 8-11 dollars per click, which is quite hefty compared to GoogleAds/Facebook.
2.No Device-Level Bidding
With LinkedIn, you cannot choose which device your ad goes on. This might put you at a disadvantage as you can essentially not bid following where your ad is going.
3.No Visible Relevancy Score
Platforms like Google and Facebook give the user quality scores to better overview your campaign’s standing. However, LinkedIn has no such features and, again, may put the user at a disadvantage.These risks, paired with the problematic navigation that comes with LinkedIn, make it a riskier, more challenging experience. There is more cost involved, and traffic is mid-funnel, which may deter people from opting for LinkedIn Ads. However, according to AJ, these risks can be mitigated.
Tips by AJ Wilcox on Maximizing the Success of Your LinkedIn Ad
Before you start worrying over how you can maximize your LinkedIn Ads’ success, we have a quick fix for you. AJ believes that if you apply the following strategies, you’re more likely to get better results on your Ads.
Let’s take a look at these strategies.
AJ emphasizes the fact that bidding lower is key to ensuring that your campaign is successful. LinkedIn will advise you to bid higher – but you shouldn’t. Your bidding strategy should consist of bidding CPC (cost per click) combined with low bids.
In addition to that, AJ advises you to steer 100% clear of auto-bidding and LinkedIn best practices. Bidding for performance should involve setting the budget high but bidding low.
2.Identify Where Your Ad Performance Lacks
You should review your campaign across two spectrums: Click Efficiency and (CTR%) and Conversion Efficiency (CvR%). Whichever area lacking is where you must focus your investment on.
If CTR is where you lack, you can try different visuals/audio to ensure that you get a higher click rate.
If CVR is problematic for you, you need to enhance your landing page experience and overall credibility.
3. The Benchmarks
AJ provides us with some useful (and exclusive!) benchmarks to take into account while executing the campaign:
- CTRs: 0.39%
- CPCs: $8-11
- CVRs: 10-15% (Mid) / 1.5-4% (High)
- CTRs: 0.025%
- CPCs: $3-6
- CVRs: Varies by the offer
- ORs: 5% messaging
- CTRs: 3-4%
- CPCs: $23-58
- CVRs: Varies by the offer
According to AJ, these benchmarks will help you visualize what exactly to aim for when starting an ad campaign on LinkedIn.
4. Mastering the Time To Advertise
LinkedIn does not allow dayparting – so you cannot set a parting time for your ad. What this means is that advertiser demand remains constant even when the traffic is not. AJ, after having worked out the perfect ad timing (for North America), advises you to do the same.
You might be wondering, how is that possible? See when the price for the ad is low and the inventory supply high. Where these two correspond is the best time for you to run your ad.
5. Perfect Your Targeting Tactics
A considerable part of your success as a LinkedIn campaign depends on how well you construct your target audience. AJ shares some pointers on how to perfect your targeting tactics:
- To target skills and groups exclude sales/business development and marketing job functions.
- To target, small-medium businesses exclude larger company sizes.
- Use seniority instead of age/years of experience
- Strictly avoid LinkedIn’s “Audience Expansion”; according to AJ, it is poison to a campaign!
6. View and Review Your Account Structure
The structure of your account matters a lot when it comes to hosting ad campaigns on LinkedIn. AJ suggests keeping an eye on the following:
The name of your campaign has a far-fetched impact on its success. That’s because naming it right helps you identify the purpose and the results you aim to achieve. It can save you a lot of time and help gain better control of the data. So be sure not to take a misstep here!
Keep your audience size between 20k-80k. LinkedIn will recommend you to go for 300k+, but AJ strictly warns against this!
7.Level Up Your Advanced Retargeting and Account-Based Marketing
LinkedIn houses both of these features. Advanced retargeting is a little weak, AJ says, but you can still make it work.
For advanced retargeting, make sure to exclude ‘Converters,’ ‘Landing Page Visitors’, and ‘Lead Form Openers’ from campaigns to save money on repeat clickers. Additionally, you can create a two-stage funnel audience by retargeting visitors’ campaign to the 2nd stage and then excluding this audience from the 1st stage.
LinkedIn’s account-based marketing is excellent, according to AJ. You can utilize it to achieve several benefits, such as:
- Sales dream accounts
- Exclude competitors
- Exclude existing customer
- Product updates to current customers
- Funnel acceleration
AJ’s insightful presentation was followed by a live session, where he answered questions related to LinkedIn ads. He went on to further explain how to make the best of the platform.. We have picked some of the most informative ones to help you understand the world of LinkedIn a little better!
How much do you need to spend on LinkedIn ads for it to be worth the cost?
AJ says that this is a tricky question; the cost will be varied following the circumstances in question. However, he does elaborate that $5k per month spent in North America will generally be enough.
What sort of landing page would be the best for a higher conversion rate?
AJ points out that a successful landing page mainly has three of the following elements generally:
1) Benefits from Consumption – how is your business to benefit the viewer?
2) The contact form should be handy and exposed so that the viewer is not put off.
3) You must have other social links embedded on the page! Your social credibility is of utmost importance for the ideal conversion rate.
How should the content of product ads be changing during this time (post-Covid)?
AJ iterates that the most successful LinkedIn ads have included at least some subtle reference to the fact that we are living in changing times. Therefore, according to him, this would be the best strategy to ensure that your content is relevant to the times we live in.
Additionally, make sure you are not tone deaf to ongoing social issues like racism. However, he also recommends not changing TOO much as that isn’t desirable either.
Can you delete/archive old campaigns?
Yes, you can archive ad groups and ads on LinkedIn. AJ thinks the best way to organize all your campaigns is to name the campaign according to the target audience. Any future ads can be categorized that way and automatically utilize the target audience you are going for.
LinkedIn offers you quite a profitable opportunity through its ads. AJ said it is way riskier than other platforms, but it seems to be worth it based on the kind of efficiency and targeted marketing it offers. All you have to do is invest a tad more effort into understanding how this platform operates, and then you’re good to go!
If you’re interested in finding out more about LinkedIn Ads or LinkedIn in general, you can check out AJ’s podcast called “The LinkedIn Ads Show Podcast.”