When there are so many digital assets for promoting your business, why is investing in LinkedIn so important for your company? You may not realize it now, but by the end of this article, you will understand how a small decision like joining LinkedIn can turn out to be one the best decisions you may have ever made for your business.
Let us see what the statistics have to say:
As per available statistics, LinkedIn is the world’s largest professional network available on the Internet till date. Here there are more than 950 million members and 63 million listed companies in about 200 countries and regions worldwide.
Among its members, you will find 65 million+ decision makers. Which means, 4 out of every 5 LinkedIn members are decision-makers.
Other figures show that LinkedIn is the number 1 platform where business leads can be generated. Companies have also reported that there is a 33% increase in purchases after advertising on LinkedIn. Digital Marketers also reported 2 times increase in their sales conversion rates when done through LinkedIn.
So, How can LinkedIn help to grow your business?
Reach New Clients
Through LinkedIn, you can reach new clients easily. The good news is that you can connect with your prospective clients (companies and their decision-makers) directly. This means you don’t have to go along the usual routes – i.e., from bottom (front office) up, to reach the CEO or the Owner of the company who has the final say in a business deal.
This type of direct connection with the people at the top of any company has never been possible on any other platform till date.
Buyer’s Journey is Changing
Buyers are taking more time in closing business deals. Where previously two decision-makers could decide closure of a deal, today multiple departments are involved.
Earlier a purchase decision needed only a purchase manager and the owner. But today the same purchase manager cannot directly approach the owner but has to go through multiple channels and departments before he gets approval from the owner.
Like, for example, if he has to get approval from the owner or the CEO, he needs to first get approval from the Finance department. But he cannot go directly to the finance department. He has to go through the operations department who will get him the approval. So, he has to wait till the operations department gets approval for him. Once he gets the approval, he has to go to the CEO who again cannot be contacted directly but only through his secretary. This is the story of an inside staff! What will be the reality if you or I approach the owner or the CEO in this way? Most probably the business discussions will continue forever.
By joining LinkedIn, you will be able to connect on a long term with all the decision makers involved including the CEO or the Business owner, and gain their trust thus speeding up the process in no time.
Build Relationships
Through LinkedIn, you can build professional relationships with your existing contacts. You can upload your existing contacts on LinkedIn from your mobile phones, email lists and enquiries received through websites or marketing activities. This in a way helps you increase your prospective client base by connecting to the right people. The beauty of LinkedIn is that you have access to their professional profile including designation, seniority, company name, location etc..
LinkedIn is a pure professional network where connections are made strictly for business purposes. Social media platforms on the other hand are more casual and personal in nature and they do not display their members’ professional details.
Meet Industry Leaders
LinkedIn gives you the freedom to explore thought leaders in your industry. You can connect with them or follow them, tag them, and engage in their conversations. You can learn from them and also share your insights on the industry. All such activities in effect increases your brand visibility, among the people who are interested in it.
Increase Credibility
Having an active LinkedIn company page increases your trustworthiness. The LinkedIn company page lets you showcase your products and services to the entire network. You can also post your company updates and achievements regularly. This will increase the credibility of your organisation among your peers and existing employees.
Further, you can share your insights on the latest industry trends on your LinkedIn Page. This can invite engagements from other industry experts leading to a healthy discussion.
What competition around the world are doing?
Buying decisions is becoming more time-consuming and complex due to the want of more information and the involvement of multiple decision-makers. This requires better preparation from our side and for this, understanding our competition is very crucial.
Being on LinkedIn you can keep a watchful eye on your competitors’ LinkedIn Pages and see what they are doing to promote their business. Not just in your country but around the world. You can thus gain a sense of what their next big thing is and navigate the change proactively.
Business Context and Professional Data
LinkedIn is strictly a professional network. LinkedIn is used by people to connect and share business ideas, promote brands, and close business deals. This being so, everyone who is connected on LinkedIn is connected to it knowing that it is a place for business transactions and will be in a receptive frame of mind to your business propositions.
Also on LinkedIn all the member details including position, seniority, industry, location etc., are available mandatorily, which helps you in reaching out to the right client. Also, since member details on LinkedIn are authentic you can be sure you are reaching the right client.
Social media is more entertainment-based.
Social media platforms like Facebook and Instagram on the other hand are used more for personal, social and entertainment purposes. Also, people don’t need to be authentic about the data they display.
By joining LinkedIn you can be sure of reaching the right people who are mentally prepared to receive your business propositions which will be very advantageous for your business growth.
In a nutshell, LinkedIn creates brand awareness, engagement, lead generation and conversions for you.
Start with LinkedIn for Businesses
Now that you know what benefits await you by joining LinkedIn, the first step is to get your Company page ready and get registered on the LinkedIn portal.
Your LinkedIn company page is the foundation for connecting with prospective customers. This is where your brand will be built. The more active your business page is, the more credible your business will become to your clients. Ensuring a strong presence and building long-term relationships with the right set of people on LinkedIn will attract newer clients and continue increasing sales.
If you need help to get started with LinkedIn for Business contact us.