How Much Does It Cost To Advertise On LinkedIn?
Do you want to know how much it costs to advertise on LinkedIn?
Are you interested in finding a new social media platform unlike Facebook and Instagram to generate killer traffic, leads, and customers?
If your brand wants to reach professionals, LinkedIn might be the perfect place to look at advertising.
That's because as many as 65% of B2B marketers have acquired customers by using LinkedIn ads. Also, 80% of B2B leads generated through social media come from LinkedIn.
With LinkedIn, your brand can tailor its ad spend and bids to meet your marketing goals.
However, the average cost of LinkedIn's Cost Per Click (CPC) is $5.26 and $6.59 per 1000 impressions (CPM).
In this article, you'd learn how the LinkedIn ad system works.
You will also learn some tricks and best practices so that you can get the most returns from your LinkedIn ads investment.
Let's get started.
Should Your Brand Run LinkedIn Ads?
Is LinkedIn the advertising platform for your brand?
If your brand wants to reach a B2B audience, LinkedIn ads can help your business reach a professional audience.
LinkedIn members are influential and have two times the buying power of the average online visitor.
If your brand markets to business owners or working professionals, Linkedin marketing might be a good fit for you.
The LinkedIn audience wants to improve their careers, get a new job, network, connect with business contacts, and get a few minutes of mindless get-away-from-work time.
Now that you know that the type of audience on LinkedIn, should you run a LinkedIn ad?
Not so fast.
Before you dive into LinkedIn advertising, answer the following questions:
Do you have the budget for LinkedIn Ads?
As with other social media platforms, LinkedIn does not have a set cost for its ads.
However, LinkedIn's CPCs (cost-per-click) are usually higher than other social media advertising platforms.
Though cost-per-click is generally higher on LinkedIn compared to other social media platforms, the conversion rate is also much higher on LinkedIn.
What is your end goal for using LinkedIn Ads?
It is important to set goals before spending money on LinkedIn campaigns.
What do you want to achieve with your LinkedIn ad?
Do you want to expand your thought leadership, generate leads, or boost brand awareness?
No matter your campaign goal, you want the result that would have the most impact on your brand.
Is your target audience on LinkedIn?
Who is your target audience?
Consider them before setting up your ads.
With a LinkedIn ad, you can target your audience by location, company, industry, title, skill level, degree of study and more.
With LinkedIn's Campaign Manager, advertisers can run campaigns with clearly defined goals, such as brand awareness, lead generation, or engagement.
Types Of LinkedIn Ads & Formats
Just like other social advertising platforms like Facebook, Instagram or Twitter, LinkedIn advertising provides a variety of ad types and formats to choose from.
That means that brands can choose their ad format based on the overall action and goals of the campaign.
LinkedIn advertising offerings support brand awareness, website visits, user engagement, video views, lead generation, site conversions, and job applications.
The most popular ad formats include:
- Sponsored Content
- Direct Sponsored Content
- Sponsored InMail
- Text Ads
- Dynamic Ads
- Lead Gen Forms
Now that you have an idea of what to ask yourself before setting up a LinkedIn campaign, you can pick the ad format that best fits your campaign goals.
The Sponsored Content ad is an update on a brand’s LinkedIn Page that is promoted to a wider audience through the LinkedIn Ads program.
The target audience sees the content on their homepage feed.
Sponsored content can be shown in the form of a single image, carousel image or video ads.
It is seen by the brand's current LinkedIn Page followers and a broader audience that fit the audience criteria defined in the campaign
Why would you use sponsored content?
Sponsored content can establish a brand as an authority or as a major storytelling voice in their niche.
The goal is to build trust with customers so they can rely on a company’s information, products or services.
Brands that use sponsored content are likely to see a boost in sales jump after a sponsored post is published.
According to contentmarketing.com, the boost in sales is a short-term benefit.
The long-term benefits include brand awareness and nurturing.
Though the audience that sees the content may not readily buy the brands products or services, they may éngage and continue to consume the content posted by the brand.
Direct Sponsored Content
Direct Sponsored Content is similar in concept to Sponsored Content.
The major difference is that Direct Sponsored content is not created by the brand.
Also, it is not placed on the company’s page.
However, the content is created by the advertiser in the Campaign Manager tool after getting permission from the Company Page admin.
After the content is created, the advertiser can sponsor it in Campaign Manager.
Direct Sponsored Content can be promoted on either a CPM or CPC basis, just like a sponsored content.
Though the ad appears in the feed and other pages of the targeted LinkedIn audience, it does not appear on the Company’s Page or Showcase Page.
Sponsored inMail is are paid ad messages sent to specified prospects through LinkedIn Messaging.
LinkedIn sends these paid messages only to people active on LinkedIn.
These targeted ads are more successful at driving conversions than regular emails.
Sponsored InMail is great for:
- Boosting registrations with personalized invites to webinars or in-person events.
- Driving conversions with targeted product and service promotions
- Promoting content downloads of infographics, white papers, eBooks, and more.
Text ads are campaigns with a short headline and description.
Once you sign up for this type of ad, LinkedIn places the ad in a few different locations on the homepage for desktop users.
The cost-per-click (CPC) is cheaper than other LinkedIn ads and the reach is much larger.
For an effective Text Ad campaign, you can bid maximum CPC or maximum CPM.
Text ad campaigns cannot be optimized for conversions.
It is better to bid a maximum CPC over CPM.
CPCs are not the same for all text ads.
The average cost of CPC is between $2 to $8.
This is dependent on the audience.
Why LinkedIn Text Ads?
- Helps reach a targeted audience: Text ads help a brand reach the people that matter most using LinkedIn targeting options.
- Get quality traffic and leads: These ads help a brand reach an important targeted audience of decision-makers and influencers to a website or landing page.
- Text ads campaigns are easy to start: Brands can easily create and launch targeted campaigns with custom creatives.
According to LinkedIn:
"Dynamic ads are personalized ads tailored to each member based on their own LinkedIn profile data, such as profile photo, company name, or job title.
Note: Each member sees their personalized information; member profile information is not displayed to other members".
In other words, Dynamic Ads allow a brand to grab attention with personalized ads that show each professional's own LinkedIn profile data.
Things like a photo, company name, job title, and more.
A brand can use the dynamic ads option to personalize the LinkedIn ads they serve their target audience.
How does it work?
LinkedIn's dynamic ads pull each user’s name or profile picture from their LinkedIn profile and apply it to the ad template you’ve created.
The result is hyper-personalized ads.
Just like email merge, personalization is very effective in marketing.
Creating a personalized campaign that is insanely relevant to the target audience significantly increases the likelihood that they’ll respond to the ad.
That increases the likelihood of more eyeballs seeing your ad and achieving your campaign goals.
Dynamic ads make it possible for the target audience to see their name or profile picture as part of the campaign.
This arrests people’s attention, as they scroll through their feed.
You have to get in touch with a LinkedIn representative to create a Dynamic ad.
When Should A Brand Use Dynamic Ads?
Dynamic ads are great for driving killer traffic to a landing page/company page.
It is also effective for advertising job openings or getting users to follow your LinkedIn company page.
With the ad, you get a user's full name and email address in the dynamic ad, without typing their info by hand.
After a user submits their information through the ad, your content starts downloading to their desktop automatically.
Lead Gen Forms
LinkedIn Lead Gen Forms make it simply easy for a user to complete a form directly within the LinkedIn dashboard.
These forms use a mobile-optimized technology to collect leads without redirecting the users to a website's landing page.
Also, the forms have helped 90% of b2b marketers reduced their cost per lead.
Advertisers get such results because the leads are easy to get by just clicking on a button.
Importantly, LinkedIn’s internal data shows that marketers can get 2-3 times more conversions from Lead Gen Forms than from Sponsored Content campaigns.
Lead Gen Forms Ad Formats
Here are LinkedIn Lead Gen Forms options:
1. Single Image
Single image ads are Sponsored Content Lead Gen Forms that appear in the LinkedIn feed across mobile and desktop.
The ad has one image and is served to a target audience beyond the followers of the brand.
It is used to generate leads, drive brand awareness, and nurture relationships.
2. Carousel Image Ads
With Carousel Image Ads, you need 2 or more images. Some brands use this ad format to showcase the different solutions to different pain points or benefits of their service or product.
3. Video Ads:
Embedded videos ads that run 3 seconds to 30 minutes.
Great for audience engagement and lead generation.
4. Message Ads
Message ads are email ads that are sent directly to the inbox of your target audience.
Message ads are effective for engaging with an audience that already knows about a brand team and has not purchased products or services.
Why Should A Brand Use Lead Gen Forms?
Most marketers use Landing pages to capture leads.
Landing pages have a lot of steps that lower conversion.
However, the Lead Gen Form makes it simply easy for a LinkedIn user to become a lead by pre-filling the fields on the lead gen form with their data.
All of this happens without the user leaving the LinkedIn platform.
And all the user has to do is hit Submit.
Lead gen form ads work on sponsored InMail and sponsored content ads.
Whether your brand is looking to generate killer leads laser-focused target market or you're just eager to explore a completely new area, LinkedIn ads might be the way to go.
Our outsourced social media management agency is eager and ready to manage all your social media accounts.
To get started, choose the exact type of ad you want to run.
For professional help in managing your Linkedin ad campaigns and other social media accounts, contact us
WhatsApp us at: +234 080 331 75396 or +234 080 579 37786