By Clara Beck
If you’re running a B2B business, you’ve probably heard of LinkedIn remarketing. If you’re yet to try it, you’re missing out on a big opportunity to generate revenue.
Importance of LinkedIn Remarketing
For those of you who are not familiar with the term “remarketing,” it’s just a fancy word for “second chance.” Basically, it means reconnecting with someone who has interacted with your brand before.
Suppose you have a website that sells digital marketing automation. Somebody reads an article on your blog but does not reach out to you to inquire about your services.
If you don’t do anything about it, you’re letting go of a high potential customer. By running an ad, it gives you the opportunity to appeal to that contact that got away.
LinkedIn remarketing applies the same principle. It implements web technology to track individuals who have visited your website so that you can send ads their way.
LinkedIn marketing has been proven to be highly effective. Let me pull in some data for you:
- According to a study, the click-through rates (CTRs) for display ad remarketing performs 10x better than regular display banners.
- Website visitors remarketed with display ads are 70% more likely to convert.
- Remarked ads provide a 1,046% rise in trademark search behavior.
Using LinkedIn remarketing can be highly advantageous for B2B companies that advertise to other professionals. Here are some businesses that can benefit from LinkedIn remarketing:
- Office furniture/ supplies
- Computer software
- B2B services
- Financial services
- Construction jobs and commercial HVAC
- Development course
- Job ads
- Resume/ interview prep and more
The bottom line is that remarketing can boost sales for any online advertisers.
Why LinkedIn Remarketing Works
LinkedIn users spend approximately 2 hours per month on the platform. These are warm leads because they are professionals and are already open to the products and services that you sell.
The purchasing powers of LinkedIn members are double to that of the average website audience. Additionally, 4 of 5 LinkedIn members drive business decisions. This makes your LinkedIn remarketing ads more probable to create sales as compared to any platform on the web.
Here are the latest findings regarding LinkedIn remarketing ads:
- Contact targeting increases the click rate by 37%
- Post-click conversion rates increase by 32%
- CTR increase by 30%
- Post-click cost-per-conversion decreases by 14%
- Post-click cost-per-conversion decreases by 4.7%
The Importance of Matched Audiences
When looking into LinkedIn remarketing, you will frequently come across the phrase “matched audiences.” This expression covers all options of LinkedIn remarketing.
Matched audiences lets you target customers or potential customers you already know, which is what remarketing is all about.
Grab the chance to target potential customers who have visited your website before, contact key players from select Companies, or send promos in your contacts. All these are possible thanks to LinkedIn advertising.
LinkedIn Remarketing Best Practices
To succeed in B2B with LinkedIn ads, here are five best practices to follow:
1. Define Your Goals
Before you launch LinkedIn ads, it is essential to get clear with your goals. At the end of the day, what you want to achieve with the program will determine which ads you need to run. Here are some great goals for LinkedIn:
- Acquiring new leads
- Brand awareness
- Creating a contact list
2. Keep a Tab on Bids
At 610 million members and counting, the ad space inventory in LinkedIn has saturated. This means that in order to remain competitive, Companies must place higher bids. According to the Q1 Benchmark Report from AdStage in 2019, the average CPC of Linked advertisers is at $3.99 compared to the $0.63 CPC median by Facebook.
That said, an advertiser can implement many effective strategies to increase their conversion rate.
LinkedIn’s main focus is bringing together the business world. This means LinkedIn would not be a good fit for advertisers that are more consumer-focused. For B2B businesses looking for business professionals, LinkedIn has a variety of options for targeting the right audience like:
- Email list – Advertisers can reach out to LinkedIn users that match their Company email list.
- Remarketing list – Advertisers can remarket their products or services to users who have interacted with their site before.
- Demographics – Make an audience list by specifying interest, age, and location.
- Company and job – Businesses can get down to the company and job profile of a user, including industry, company size, company name, and job title.
4. Select the Appropriate Ad Type
There are different options available for advertisers to hit specific targets using different ad types. There are three ad types for advertisers to build a campaign. They include:
- Sponsored InMail – Advertisers can use LinkedIn internal messaging system to send personalized messages to their target audience. This enables advertisers to be more detailed and direct with their audience.
- Text ads – Text ads help advertisers to craft short messages and insert their company logo. This is a great option to promote brand awareness.
- Sponsored content – It includes an image and multiple lines of text. Advertisers can even attach a form to the ad to build a contact list.
5. Always Test Ads
Always try out new ad copies to discover text and images that connect with the target audience. Testing ads will also ensure your ad copy stays fresh so that users will not have to see the same ad more than a few times.
For companies targeting only a small group of people, paying attention to an ad’s runtime will ensure a single user is not flashed with the same ad multiple times. Maintain a consistent schedule to rotate ads.
Keep the content fresh by constantly changing elements such as ad copy and images. This will eliminate the likelihood of ad fatigue and boost the click-through rate.
It is likely that over 90% of visitors to your website will leave without responding on your call to action or filling out a form. With the help of LinkedIn remarketing, you can make sure these potential customers do not slip away without getting a few more chances to respond.
You need to acknowledge that this platform is different from other social media platforms like Facebook and Instagram. Once you understand this, it will help drive results.