To some entrepreneurs, marketing is the “next big thing,” a temporary yet powerful fad. To others, it’s just a buzzword with no practical advantages and a steep, complicated learning curve. Do you know what is the difference between "marketing" and "advertising"? In simple words, the difference can be elucidated as- marketing is done for free, and advertising is paid. Both render increased brand recognition, improved brand loyalty and more opportunities to convert, with higher conversion rates. This scoop is dedicated to the "Advertisement on LinkedIn".
What is LinkedIn Ads?
A self-service advertising solution, wherein the company selects their product/service/updates for leveraging and pay accordingly. These ads allow end audience to reach the advertiser's website or any linked web-page associated with the content. The best part I like about LinkedIn advertisement is that we can select our audience for each of our ad campaign. May that be a specific company or demographic location or designation or even the company size. This helps campaigns run in the most efficient manner as we focus on a target and get specific statistical results.
A self-service advertising solution, wherein the company selects their product/service/updates for leveraging and pay accordingly. These ads allow end audience to reach the advertiser's website or any linked web-page associated with the content. The best part I like about LinkedIn advertisement is that we can select our audience for each of our ad campaign. May that be a specific company or demographic location or designation or even the company size. This helps campaigns run in the most efficient manner as we focus on a target and get specific statistical results.
How do I get started?
All you need is an account on LinkedIn and of-course a credit card and yes you are ready set to go! On top of the LinkedIn menu bar of your account page, at right hand side, Under "Business Services", select the option "Advertise"
1) Create the ad content-- Write your ad or select the update you want to sponsor
2) Select your target audience-- Determine which LinkedIn members should see your ad
3) Set your bid and budget-- Set a maximum amount you want to spend on your campaign, i.e. how much you are willing to pay for clicks and impressions
All you need is an account on LinkedIn and of-course a credit card and yes you are ready set to go! On top of the LinkedIn menu bar of your account page, at right hand side, Under "Business Services", select the option "Advertise"
1) Create the ad content-- Write your ad or select the update you want to sponsor
2) Select your target audience-- Determine which LinkedIn members should see your ad
3) Set your bid and budget-- Set a maximum amount you want to spend on your campaign, i.e. how much you are willing to pay for clicks and impressions
"Creating Ad" vs. "Sponsoring Updates"
I am sure this might be a mystery for many marketers but trust me there is no sure-shot rule to go with in this. Beginning needs hit and trials for sure. But if you ask me which one is better, I would suggest to go with sponsoring updates.
Sponsoring updates is more intrusive and show higher engagements as compared with creating ads. Ads will be shown at the right side of the target audience pages, whereas the sponsored updates will be reflected in their news feed. This option is more expensive though but is more ROI generating as well. You get a larger space to leverage your updates in-front of your targets and the minimum bid is tailored according to the target audience criteria you go with. LinkedIn provides an option ofsecond-price auction under sponsoring updates. For instance:
If A bids $8
B bids $5
and C bids $15
Surely, C wins the bid. But he will not have to pay $15, instead he will pay $8.1 for his bid
But as I earlier mentioned, one should always initiate with small to test the waters and then plan accordingly.
I am sure this might be a mystery for many marketers but trust me there is no sure-shot rule to go with in this. Beginning needs hit and trials for sure. But if you ask me which one is better, I would suggest to go with sponsoring updates.
Sponsoring updates is more intrusive and show higher engagements as compared with creating ads. Ads will be shown at the right side of the target audience pages, whereas the sponsored updates will be reflected in their news feed. This option is more expensive though but is more ROI generating as well. You get a larger space to leverage your updates in-front of your targets and the minimum bid is tailored according to the target audience criteria you go with. LinkedIn provides an option ofsecond-price auction under sponsoring updates. For instance:
If A bids $8
B bids $5
and C bids $15
Surely, C wins the bid. But he will not have to pay $15, instead he will pay $8.1 for his bid
But as I earlier mentioned, one should always initiate with small to test the waters and then plan accordingly.
Where will the ads be shown?
Under sponsoring updates, your ads will be shown in the Home-Page under News Feed of the targets.
Under creating ads, your ads may appear in various positions 'on any' or 'all of' the pages listed below:
(A) Profile Page (when users view the profile of other LinkedIn members)
(B) Home Page (the page that users see when they log in to LinkedIn)
(C) Inbox (the page where users see messages and invitations to connect)
(D) Search Results Page (the page that results when you search for a member by name)
(E) Groups (on pages in LinkedIn Groups)
Under sponsoring updates, your ads will be shown in the Home-Page under News Feed of the targets.
Under creating ads, your ads may appear in various positions 'on any' or 'all of' the pages listed below:
(A) Profile Page (when users view the profile of other LinkedIn members)
(B) Home Page (the page that users see when they log in to LinkedIn)
(C) Inbox (the page where users see messages and invitations to connect)
(D) Search Results Page (the page that results when you search for a member by name)
(E) Groups (on pages in LinkedIn Groups)
How much does it cost?
You can control your cost by selecting a bid and setting a daily budget, which can be as low as $10 and as high as $10,000 or even more. You can pause or stop your campaign anytime according to your need.
Pay per click (CPC)
Most marketers choose CPC, wherein they pay only when someone clicks on their ad. CPC allows the advertisers to set a bid (the maximum amount they are willing to pay for each click) This can be $3 for example.
So each click will cost you between $2 (minimum cost per click) and your bid.
Is there a set cost for LinkedIn Ads?
As you are creating your ad, LinkedIn will show you a Suggested Bid Range that represents an estimate of the current competing bids by other advertisers targeting the same audience. In general, the higher you bid in the Suggested Bid Range, the more likely you are to receive impressions and clicks. Because you’re competing with other advertisers for impressions and clicks, there isn’t a set cost for LinkedIn Ads.
Cost per impression (CPM)
Advertisers pay for the number of times their ad is shown to the target audience, regardless of the clicks they get. In simple words, you pay per every 1,000 impressions. This method is useful for creating brand awareness amongst the end users.
CPM= Total cost of a marketing campaign/ Total number of impressions delivered by the same campaign
This bidding option needs time to generate ROI. Therefore, I would recommend this for marketers with past experience advertising on a CPM basis.
You can control your cost by selecting a bid and setting a daily budget, which can be as low as $10 and as high as $10,000 or even more. You can pause or stop your campaign anytime according to your need.
Pay per click (CPC)
Most marketers choose CPC, wherein they pay only when someone clicks on their ad. CPC allows the advertisers to set a bid (the maximum amount they are willing to pay for each click) This can be $3 for example.
So each click will cost you between $2 (minimum cost per click) and your bid.
Is there a set cost for LinkedIn Ads?
As you are creating your ad, LinkedIn will show you a Suggested Bid Range that represents an estimate of the current competing bids by other advertisers targeting the same audience. In general, the higher you bid in the Suggested Bid Range, the more likely you are to receive impressions and clicks. Because you’re competing with other advertisers for impressions and clicks, there isn’t a set cost for LinkedIn Ads.
Cost per impression (CPM)
Advertisers pay for the number of times their ad is shown to the target audience, regardless of the clicks they get. In simple words, you pay per every 1,000 impressions. This method is useful for creating brand awareness amongst the end users.
CPM= Total cost of a marketing campaign/ Total number of impressions delivered by the same campaign
This bidding option needs time to generate ROI. Therefore, I would recommend this for marketers with past experience advertising on a CPM basis.
Suggestions
1) Keep your bid amount high to compete the competition and pay just a cent more than the second highest bid
2) Continuously review and update the ad and budget
3) Keep your target audience between the range of 1,50,000 to 4,00,000
1) Keep your bid amount high to compete the competition and pay just a cent more than the second highest bid
2) Continuously review and update the ad and budget
3) Keep your target audience between the range of 1,50,000 to 4,00,000
I hope my scoop was informative! Withal, always remember... A lot of times, people don't know what they want, until you show it to them.
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