Today, social media plays a vital role in any effective marketing strategy, but for B2B marketers, LinkedIn holds a special place. What’s even more appealing is that LinkedIn marketing happens to be incredibly budget-friendly, which is more important now than ever.
Times are tough right now, especially for small and medium-sized businesses. When budgets get squeezed, marketing is one of the first things that often gets the chopping block. But axing the marketing budget might not be the smartest move. Here’s why:
- Keep Your Name Out There: No matter how great your product or service is, you won’t get far if people don’t know about it.
- Sales Booster: Marketing isn’t just about ads but driving sales. Trim your marketing budget, and you might see a dip in your cash flow, especially in the short term.
- Win Hearts and Loyalty: When you’re in front of your customers regularly, it builds trust and keeps them coming back for more.
- Stay Competitive: In today’s cutthroat business world, marketing is your ticket to standing out. Cut back, and your competitors might just slip ahead.
- Think Long-Term: Marketing isn’t just for today; it’s about planning for the future. Cutting it now could mean missing out on growth opportunities down the road.
But here’s the good news – there are plenty of ways to make your marketing more cost-effective. It just takes a bit of strategic thinking and some good old-fashioned creativity.
Why is LinkedIn Cost-Effective for B2B Marketing?
If you’re running a B2B business, LinkedIn is probably already on your radar. If it’s not, then it should be. We’ve talked about this a lot, but here’s a quick recap:
- Targeted Audience: LinkedIn has over 930 million professionals and businesses from 200+ countries, making it ideal for B2B marketing. You can connect with people in your industry, job roles, and company sizes. Plus, you can tailor your ads and content to reach the right audience.
- Quality Leads: Unlike other social media platforms, LinkedIn users are actively seeking professional connections and business opportunities. In fact, there are 65 million decision-makers on LinkedIn. This means the leads generated through LinkedIn are of much higher quality and more likely to convert into actual customers or clients. Pretty good, right?
- Content Marketing: LinkedIn provides a platform for sharing valuable content, such as articles, videos, and infographics. By creating informative and engaging content, you can establish thought leadership and build trust with your target audience without the need for expensive advertising.
- Sponsored Content: Want to make a splash with your message? LinkedIn’s got options like Sponsored Content, Sponsored InMail, and Display Ads. You can pay to get your message right where you want it. While advertising costs can vary, you have control over your budget, targeting options, and ad formats, which can help manage costs effectively.
- Analytics and Optimisation: LinkedIn provides impressive analytics tools to measure the performance of your marketing campaigns. You can track key metrics like click-through rates, engagement, and conversions, enabling you to refine your strategies for better cost-effectiveness.
- Lead Generation Forms: LinkedIn offers Lead Gen Forms that simplify the process of capturing leads. Users can submit their information with a single click, reducing friction and improving conversion rates.
- Networking and Relationship Building: LinkedIn is not just a platform for marketing and advertising; it’s also a place for building and nurturing professional relationships. You can engage with your connections, and participating in relevant groups and discussions can bring long-term benefits without requiring significant financial investments.
How Can You Improve LinkedIn Marketing Strategy?
Here are some savvy little tips you can use to make the most of your LinkedIn marketing:
- Spruce Up Your Company Page: Let’s start with the basics – your company page. It’s surprising how many people overlook this simple step. This involves making sure to update crucial info like your company description, contact details, and don’t forget to freshen up your logo and cover image. It’s also important to write a compelling and informative “About Us” section that succinctly conveys your company’s mission, values, unique selling propositions, and what sets you apart.
- Keep the Content Flowing: Imagine you’re a potential follower scrolling through a company’s page. How often would you hit that follow button if they hardly ever post? On the flip side, you don’t want to bombard your followers with posts every hour. It is generally recommended to share content on LinkedIn around two or three times a week.
- Mix It Up: Variety is the spice of life, right? The same goes for your content. You can throw in images like infographics, memes, or carousels. If you’re feeling writerly, pen down some articles or newsletters. Got handy documents like white papers or snappy one-pagers? Share those, too. Don’t forget videos – they’re eye-catchers in a scrolling world.
- Value Over Promotion: Don’t make it all about yourself. Instead, share content that enlightens and adds value. Try to become the go-to source for wisdom in your industry. That is not to say you can’t give yourself a shout-out from time to time – like celebrating an employee’s achievement or company success. But remember, not every post should be a sales pitch.
- Get the Gang Involved: If your posts aren’t lighting up with engagement, get your team in on the action. Ask them to like, comment, and share your posts with their own networks. You can also share your content in relevant industry groups to cast a wider net.
- Sprinkle Keywords and Hashtags: Spice up your posts with keywords that matter to your business, industry, and audience. Don’t forget those hashtags – they’re like breadcrumbs leading users to your content. Plus, some of your content may even pop up in Google searches, especially LinkedIn articles. So, sprinkle those keywords there, too.
- Paid Content Promotion: If you want to supercharge your content’s reach, why not consider a little investment and boost your post? LinkedIn post boosting is when you pay a little bit of money to show an existing LinkedIn post to more people. Your content will show up in the feeds of your target audience, even if they don’t follow your company. It’s like turning your organic post into a paid ad, and it can make a world of difference.
- Analyse Results: Have you ever heard the quote, “Half my advertising spend is wasted; the trouble is, I don’t know which half”? Depending on which side of the Atlantic you are on, this quote comes from U.S. retail magnate John Wanamaker or U.K. industrialist Lord Leverhulme. With LinkedIn, you can actually analyse your results and make smart changes. If certain content or topics perform better, go with that. It’s all about adapting and improving as you go.
So, there you have it – why LinkedIn is a budget-friendly platform for B2B businesses and some straightforward tips to make the most of your marketing campaigns without straining your budget.