Social media never sleeps. The changes just keep coming, especially the past few months. Today’s preferred channels are subject to evolving features, statistics, designs, algorithms, and advertising on a near-constant basis. Even the largest brands and organizations can find it challenging to stay on top of updates capable of business impact. We want you to know about the most significant channel-specific changes that can keep you ahead of the curve as a digital marketer.
Download our Social Synopsis for April 2020.
Due to stay-at-home orders, rising unemployment, and the very human need to connect with one another, it’s no surprise that LinkedIn shot up to 690 million members. Not only have the number of people on the platform increased, but the amount of time users are spending on the platform has jumped up 26%. This boost in traffic can be felt by many, including B2B brands. We already know that LinkedIn offers the best ad targeting options for those in the space. But what’s even more impressive is that 80% of B2B social media leads have been reported to come from LinkedIn.
Hoping to maintain the increase, LinkedIn has released new advertising options into market. In Q1, they released several updates, including:
The new Conversation Ad format, created to improve the conversion rate, is a modified version of the classic InMail ad format marketers currently use. But the main difference with this new format is that it offers a higher level of interaction, with multiple calls-to-action that likely will drive them down the funnel with greater ease. Senders will be grateful to have more than one call-to-action and the ability to click through the option that best suits their needs.
Next, the new ad targeting option Company Category is derived from a curated list from Forbes, Fortune, and LinkedIn. The option allows marketers to reach members based on the category and specific market segment their company falls into. A few of the U.S. targeting options are:
Of note here is that LinkedIn doesn’t allow you to see the list of companies that make up each segment. So you’ll have to rely on LinkedIn’s curated ability to target the companies you need.
Finally, Company Growth Rate, allows targeting to only those companies with a certain rate of employee or revenue growth year over year. LinkedIn states that the growth rate for a company is determined by comparing recent total employee count vs. one year prior—but doesn’t explain where they are receiving these headcount number at each company. One suggestion is that they may base the headcount on how many users have listed the company as their current employer.
With that in mind, it may now be important to encourage your employees to update their LinkedIn profiles with your current company if they haven’t already done so. When selecting this targeting option, buyers will be able to select from:
As companies are growing quickly, their needs are changing. The opportunity to reach out to these companies for new products and services could be a game changer for B2B brands.
Updates covered here are just a few of the expected changes to come out this year from LinkedIn. And for now these new targeting options and formats will increase the likelihood that brands are reaching the right people at the right time.
The National Cowboy Museum in Oklahoma is closed during the pandemic. Yet, they’ve gone viral for putting their head of security, Tim Send, in charge of their social media accounts. Gaining almost 300,000 Twitter followers in just 7 weeks, Tim’s tweets are educational and provide a glimpse into the museum’s displays. Others show Tim’s hilariously wholesome attempts at understanding the Internet. Case in point: his hashtag creation #HashtagTheCowboy is still trending.
Finally, there are several channel updates to put on your radar.
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