LinkedIn is an American company-focused and career-focused online platform that is accessible via websites and mobile applications. The platform was launched on 5 May 2003; the service is used primarily to promote personal networking as well as career development and also allows job seekers to publish their resumes and employers to post job openings. At the time of writing, the majority of the revenue generated by the company was generated from selling access to the information of the members of its users to recruitment agencies as well as sales professionals. Since December 2016, LinkedIn has been a wholly-owned company of Microsoft. As of September 20, 2021, LinkedIn has 774+ million members registered from more than 200 nations and regions. LinkedIn lets members (both employees and employers) build profiles and "connect" with one another on a social media platform that could be a representation of real-world professional connections. Users can ask anyone (whether an already a user or not) to join as a "connection". LinkedIn can also be used to plan offline events as well as join groups, write articles, post job ads, upload photos and videos and many more.
LinkedIn Revenue: The Financial Facts
Microsoft recognized the potential of LinkedIn, and its potential bought it for $26.2 billion in 2016. However, unlike most social media platforms that depend on advertising, LinkedIn services are something that users will be willing to pay.
39 percent of LinkedIn users pay for LinkedIn Premium, which comes with four price levels:
Premium Career: $29.99/month
Premium Business: $59.99/month
Sales Navigator Pro: $79.99/month
Recruiter Lite (Hiring): $119.95/month
Premium Career is ideal for people who are looking for work. It provides you with access to five InMail messages each month, as well as in-demand videos in addition to the ability to track who has visited your profile, the number of searches you've been in, plus additional details about advertised jobs (including the salary).
The other levels offer the same basic functions; however, they go a couple of steps further. Premium Business offers you more information on businesses as well as unlimited searches for people and Navigator Pro for Sales Navigator Pro gives you advanced search filters, accessing a variety of sales tools, as well as the ability to record notes on profiles of users; and Recruiter Lite offers guided searches, with smart suggestions and other tools for recruiting.
Generating Leads on LinkedIn
LinkedIn is a particularly good source to find leads. Hubspot discovered it be LinkedIn has 277% greater efficiency in creating leads over Facebook or Twitter. This is why it's not a surprise the fact that 79% of marketers consider LinkedIn as a reliable source of leads, as well as the majority of them reporting that they've found at least one client via LinkedIn. This number is higher by a significant amount for B2B marketing professionals, which say that 80percent percent of social media leads originate from LinkedIn, and 40% of marketers recognise LinkedIn as their top source of high-quality leads.
Racking up Points for Recruitment
The second main reason LinkedIn users are actively using the platform is for recruiting efforts for jobs. With more than 55 million businesses that are listed on LinkedIn and 14 million jobs open, It's not a surprise to discover how many recruiters utilize LinkedIn. A study revealed there were 122 million who were offered an interview on LinkedIn and 35.5 million being employed through a person they've connected with through the site. Therefore, it's no surprise that 3 people are employed via LinkedIn per minute. LinkedIn witnessed a 6x increase in the number of job ads for remote workers that were added to the U.S. from March to December 2020, with more than 300k positions available remotely. One useful LinkedIn statistic in the eyes of recruiters is candidates who are sourced via LinkedIn are 40percent less likely to quit the company within the first six months. According to LinkedIn, the number of women on LinkedIn is now around 42 percent of the company's top management, while those in technical leadership positions growing by 79% over the last five years.
A Primer on LinkedIn Profile Optimization
With LinkedIn's ability to recognize boolean operators as well as filter results based on parameters like company size and experiences, job and the level of seniority. LinkedIn is a clear winner over its competitors in helping users establish crucial business connections. But, despite its advanced search features, however, you'll still need to improve LinkedIn's profile. LinkedIn page (suggested reading How to Make an Organization page for your company on LinkedIn). The first step in doing this is to include an attractive photo that typically gets a person with 14x more engagement than the other kinds of profile images. In order to increase your chances of being connected fivefold, be sure to provide your current location. Also, make sure to include at least five skills that are relevant since this increases the likelihood of your account being noticed, and someone will reach out to you greater than 31, which is the amount you'd get If you didn't.
Fun LinkedIn Statistics About New Features
Following Microsoft intervened, LinkedIn introduced several new features, like Showcase pages. This feature, akin to business pages, is designed to showcase your business's unit of operation or project. LinkedIn also added the calendar chatbot that will sync both calendars for two LinkedIn users, allowing them to connect. This feature is particularly useful for people who wish to make connections with people in other time zones. While chatbots are yet to be added to LinkedIn, AI technology has already made its way onto LinkedIn via intelligent replies or suggestions for responses. In addition, LinkedIn also rolled out messaging that allows users to send InMail via chats rather than using the standard email format that reduces the number of clicks. This feature can also be used to send ads.
Other features new to the market include:
The capability to add swipe-up hyperlinks on LinkedIn Stories gives more visibility to your posts.
The frames #Hiring, as well as #OpenToWork, can be incorporated into your profile photo to give potential employers or potential candidates know about your current position.
Comments with hashtags are now being tracked by LinkedIn and LinkedIn, meaning that you'll get results with comments when you search for hashtags. This means that using hashtags is even more essential!
Content Creators Make Use of LinkedIn
LinkedIn lets you post different kinds of content. Articles that can be shared on your profile or LinkedIn Pulse or linked to your site, as well as slideshows and videos, can be among the top frequently shared kinds of posts that LinkedIn users share. In the year 2019, LinkedIn sessions grew by 25 percent from year to year, and there were 358 billion feeds being viewed. However, only 3 million users (out of 740 million) post posts on a regular basis. That means only one percent of LinkedIn's nearly 260 million monthly members share posts. Those 3 million users generate 9.4 billion page views. LinkedIn is responsible for 46% of the social traffic to B2B websites and is regarded as the most trustworthy source of content. It's therefore not a surprise that 98 percent of content marketers use LinkedIn to promote their content specifically to promote lead generation and B2B marketing. A study conducted by OkDork that looked at more than 3000 LinkedIn posts revealed the "how-to" and lists did best, particularly ones with titles of 40-49 characters. In addition, it revealed articles with five headlines got the highest number of views. The study also found that content with long length (1,900-2,000 words) did the best in comparison to content that has eight pictures.
Final Thoughts: Mind-Blowing LinkedIn Statistics and Facts
Be sure to know the facts regarding some of the bizarre LinkedIn figures that support the notion of a social platform that will continue to be the most dominant? From the 3 million people relying on the 9.2 billion impressions each month, and the conclusion that LinkedIn stats support Zuckerberg's claim that video will be the next major trend, It's evident that there is a lot of information to be learned about who's using LinkedIn and the reasons they're doing it. Do you have any interesting LinkedIn stats to be sharing? Share them in the comments below!
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