LinkedIn Marketing Costs Explained in Fewer than 140 Characters
Ah, what a time to be alive! When a piece of content about social platform X is setup in social platform Y’s layout. Breathe it in and let it grow on you!
LinkedIn Marketing has proven to be one of the most effective methods of getting your brand or product in front of the right set of eyes in a B2B environment. LinkedIn is a more serious platform where users log in for a specific purpose, be it recruitment, job hunting, connecting with colleagues or sharing their professional expertise on specific industry related topics. LinkedIn allows us professional access to around 467 million members.
We’ve covered the bases in our article “Best LinkedIn Marketing Tips for B2B”, but when it comes to the bottom line (the literal bottom line) – we need to know more, as a collective of marketers, about the costs involved in a LinkedIn Campaign.
LinkedIn Costs 2019 – Explained in a Tweet
LinkedInAds are sold through an auction. When you run ads, you compete with other advertisers who want to reach a similar target audience.
LinkedInAds only set a TOTAL budget if you want your campaign to deliver faster.
For a LinkedInAd to run constantly and reach the right people over time, set only a DAILY budget.
LinkedInBids – set the maximum amount you’re willing to pay for clicks, impressions, or delivered InMails. You’ll never overspend.
LinkedInCPC Cost-per-click. Only pay when people click on your ad. Use if you want to drive traffic to your site or generate leads.
LinkedInCPM Cost-per-1,000-impressions (CPM) you pay when your people see your ad. Choose CPM to drive awareness.
LinkedInCPS Cost-per-send. Pay when Sponsored InMail messages are successfully delivered. Use CPS for highly qualified leads or sign-ups.
Minimum Costs for LinkedIn Marketing
LinkedIn Campaign Cost – minimum spend of $10 daily budget per campaign (R140 currently)
LinkedIn Campaign Cost Sponsored Content – min spend of $10 total budget per campaign (an optional feature for Sponsored Content)
LinkedIn Campaign Cost CPC or CPM is only $2! Only pay when people see, or click on your ad for under R40.
LinkedInAds Tip: Change your ad often, once p/m. New ads get a boost in impressions, a chance of scoring a higher CTR than previous ads.
LinkedInAds Tip: Don’t run more than 2 ads at a time. Test early and test often.
LinkedIn Marketing Cost Tips
Bid Auto-Optimization for Lead Gen Forms can help marketers see better results from their spend.
Video for Sponsored Content is a game changer. Marketers should take advantage of new ad type opportunities while the competition is low.
On a tight budget, find a way to nab a $50 LinkedIn Ads gift card. Some marketing agencies can help, or contact the LinkedIn team for one.
We’d love to hear your feedback on how you got the most bang for your buck out of LinkedIn marketing campaigns!