11 Apr How to Optimize Your LinkedIn Ad Campaigns
The paid advertising strategy that is available through LinkedIn ad campaigns can be a surefire way to boost sales and build a customer contact base. Through the campaigns, there is the ability to reach a target audience that will turn clicks into conversions. Research performed through the content marketing platform NewsCred proved that, in comparison to Google AdWords, LinkedIn had 75% lower cost per lead, and six times the ROI. In order to make your LinkedIn ad campaigns work in this way, you need to know how to optimize them. In this article you will learn how to effectively reach your audience, bid wisely, and maximize your results.
Target Your Audience Effectively
Regardless of what kind of business you are operating, you want to reach a specific audience; namely one that is interested in the solutions that you can offer. The more specific you are when targeting an audience with LinkedIn ads, the bigger your return on investment is going to be.
In the event that you have separate types of audiences that you want to reach, it is imperative to create separate ads that appeal to those types of audiences individually. This is how you are going to increase the number of viewers that click through.
Chances are, you are not going to get your campaign exactly right the first time. You will have to experiment with various landing pages, content, targeting criteria, and calls to action. After watching closely to what works and what doesn’t, you can make the necessary adjustments.
It is completely natural to want to reach as many people as possible through one campaign. However, micro-campaigns can be just as effective, if not more so, than the larger ones. Through testing and measuring, you can find out the difference in effectiveness for an ad for 50,000 people or 50 ads for 1,000 people.
The main purpose of your LinkedIn campaign ad is either gaining traffic or increasing sales. There are different ways to bid, based on what you want from your ad. Find out how to decide which option is right for you in this section.
Why Relevancy Scores Matter
A relevancy score, also called a quality score by other platforms, is a way to benchmark how relevant your ads are to your audience. LinkedIn uses the score to decide if they are going to show your ad. If two competitors bid the same, this is extremely important because you want your ad to be placed first.
With a high relevancy score, you don’t have to bid as much, making clicks and impressions cheaper. You are a top performer so you get just as much traffic without the higher rates. Your ad will be placed in the first position instead of the lower spots where the engagement isn’t as likely.
Low relevancy scores require a larger bid for the required amount of traffic. Even with a larger bid, you are not necessarily going to get the amount of traffic you want, so it is harder to turn viewers into conversions. The ad is also not going to land in the coveted number one spot, making it more difficult for potential clients or customers to see.
So, it is important to carefully craft ad content to increase engagement from your audience.
Understanding Your Bidding Options
Cost per impression, or CPM, is when the network displays your advertisement to a specific number of people based on how many customers you want to see the message you are trying to relay. If you are confident that your ad is going to be displayed to the proper audience and is likely to be turned into a click, it is an effective method for reaching people.
Paying per click, otherwise referred to as CPC, is a good option if you aren’t willing to take a risk on spending a lot of money on something that isn’t effectively helping you. If there aren’t any users clicking on your ad, there is nothing that you have to pay.
LinkedIn Ad Bidding Guidelines
There is a specific formula shared by MarketingLand that can be followed to help you earn good ROI on LinkedIn ad campaigns. You may have your own strategy as well or come across others, but this is a good place to start. First of all, always begin with a CPC and bid within the recommended range. Follow the click-through rate, CTR, carefully, and then make the adjustments as necessary.
• If the CTR is at .35% or lower, you need to get some new ads because they are not effective.
• For a CTR of .35% to 1%, you have a good ad. When you are reaching for efficiency, you can decrease your bid. If you are looking for more traffic, bid up slightly a little at a time until you reach your goal.
• CTRs at 1% or higher are the ultimate players. When you achieve this, switch to a high bidding CPM. Your ad will land in the number one position that way reaching the most amount of users possible. Just keep checking the CTRs because your message will get old after a while and people will stop clicking. After about one to three weeks you will have to create a new ad to keep those CTRs up.
Tips to Maximize Results
Get the most out of your LinkedIn ad campaigns by following these tips.
You have to be testing several different campaigns at the same time or you aren’t going to be making any money. Before paying for an ad, test it out as a post for free. This way you can gauge engagement to see which ones are likely to perform best. Getting lucky just putting out one ad at a time isn’t likely to happen. After launching several, keep an eye on which ones are working and which aren’t. Then, put your money into the working ones and lower your budget for those that are failing, eventually replacing them with something completely new.
Combine ads with inbound
By combining your ads with an inbound marketing strategy, you can be among the top performers on the network. Sharing your ads and promoting content on landing pages, blogs, and social channels allows visitors the resources they need to learn about your products or services.
Use your company page to your advantage
Ideally, you should build up your followers to at least one hundred before forking over the cash for a paid advertisement. Make certain that any employees you have are actively sharing your business page, and take advantage of the viral and social factors related to the LinkedIn platform.
Now you know the basics to optimize a LinkedIn ad campaign. In the end, the only way that you can make them work for you is with proper optimization. Just putting out an ad that anyone can see can be highly ineffective and rather expensive. It is up to you to refine your target audience by limiting who can see what you are offering, and focusing on those that you want to reach. Also, be sure to follow the bidding guidelines, know your CTR, and bid wisely. Finally, through testing, combining ads, and using your company’s page, you can maximize the results, turning clicks into conversions and giving your business the boost you are looking for.