I attended Silicon Milk Roundabout in May 2015 and managed to pick up a quick gig of putting together some LinkedIn advertising for a web analytics company (that wants to remain anonymous). Here, you can read exactly the work I planned, here is the brief:
“Draft a plan to test LinkedIn advertising as an acquisition channel for product managers in software companies of less than 100 employees
At a minimum, consider the following questions:
- What kind of budget would you start with?
- How would you measure success in terms of cost and scalability? What metrics would you be looking for?
- How would you approach breaking down targeting?
- How would you decide if and when to scale spending?
- How would you decide when the channel has peaked?”
LinkedIn Advertising Campaign
I plan to run very targeted niche campaigns, hopefully 10. Campaigns will run over a 1 month period, ideally with a £100 a day budget with an aim to be in contact of around 2,000 people on Linked in per campaign. Once performance has been analysed over the one month period, higher performing campaigns will be selected and lower/none performing ones adjusted or taken down. Moneys will be moved from none performing campaigns into higher performing campaigns to invest in more targeted sales opportunities. See below for what campaigns will be built on:
- Job title: “Product manager, ecommerce manager, ecommercemarketing manager, ecommerce analyst, online sales manager, online marketing manager, digital marketing manager, product manager, senior product marketing manager, online product manager”
- Company by industry: “internet, computer software” and specialties: “ecommerce manager, social media, online shopping, social commerce” Company size: “1-200”
- Role or seniority: “Manager, CxO, Director, Senior”
- Unique skills of employee: “product management, productdevelopment, digital strategy, User experience, e-commerce, digitalmedia, web analytics, visual analytics”
- All decisions based on audience size in conjunction with relevance
I want to stream line the LinkedIn advertising as much as possible. Because, the narrower (but more targeted) the reach the lesser the cost, the more specific the ad the better the ad performance. Using this method it would make much more sense to use CPC as they are niche targeted, it’s going to get a much higher ROI than CPM.
- Budgeting needs to be at least enough to measure ad variations, so a budget that allows at least 100 ads a day
- Total budget per month: £3000 for necessary and minimal testing
Use Linkedin function: “Lead Collection.” This feature allows users who engaged with your ad to send you their contact info and ask to be contacted. This is the best possible outcome aside from direct conversions and should be treated as high importance. This is permission to send an email funnel of a 70/30 mix of helpfulness and sales emails.
PPC vs PPM: Pay per click is the best way to track success here. While only paying out on successful clickthroughs – the exposure rate is a lot better and more economical than cost per impressions.
Running targeted campaigns, scaling and peaking: Rather than setting up 1 campaign that targets a general customer, it’s best to get so niche to one industry and job role to track whom is clicking to your site. Performance can easily be measured on who this type of software appeals too. Once this is done, profits from particularly successful campaigns can be invested in performance, whether that is upping the daily budget limit or maximum bid for increased exposure. It will be easy to tell whether web traffic and sales increase over a monthly period with more investment vs. returns – this is data that really needs to be recorded and monitored.
Other bonus techniques: Tag outgoing links using bitlinks back to the company’s website. Give each campaign an individual link, this way success of the campaign can be tracked by clicks alone. Success on the website can be measured by the company’s own web analytics systems.
Vary the destination of the click through all over the website, it’s possible to associate job title with ad so using the job title as a definition direct the user to the most relevant page currently such as: Ecommerce analytics, people analytics and general the software page.
Also test: some straight through to the free sign up page, some to the home page. I would highly recommended creating a landing page with a call to action at the end. One page with all the information so people don’t have to click around.
If you have any questions about LinkedIn advertising, please get in touch. If you’d like some personalised advertising across your acquisition channels, contact me now for a free consultation.