Dennis Yu of BlitzMetrics gave some insight into the value in paying for advertising on LinkedIn. According to Dennis, the click thru rate is about 3-5% and the cost per click is about $5-7 for ads on LinkedIn and the quality of leads are better than other social media.
“Facebook is a place to waste time but LinkedIn is a place to invest time,” Dennis said.
When it comes to content, Dennis talked about the fairly simple algorithm used by social media tools like LinkedIn that pushes more popular and relevant posts into the newsfeed section of your page. For that reason, the more engaging posts are, the more the social networks prioritize the content. Similarly, he said that the more thinking required for a post, the lower the response rate tends to be.
“People fail in social because their content sucks,” Dennis said.
In terms of scale and audience, Dennis provided some statistics about LinkedIn’s network:
More company pages on LinkedIn than there are vehicles based in LA
3 million company pages representing over 140 industries
1.5 million unique pubs actively use the LinkedIn Share button on their sites
The challenge for social media sites like LinkedIn will be proving sales and ROI. He said that there is definitely a connection between social campaigns and sales or store visits, but it is difficult to know or track the activity generated from these campaigns.