Is it a Facebook ad? Is it a Google ad? No, it's a LinkedIn ad!
LinkedIn ads may not be the most popular or the cheapest type of ad you could run, but after this episode they may be your favourite.
AJ Wilcox stumbled into the world of LinkedIn ads and quickly became on expert on campaign structure and targeting, and he's here on the 3 Marketers podcast to share his top tips…
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Do LinkedIn ads really work?
- I think most marketers have come to understand that LinkedIn ads can be really expensive, especially when you compare them to Facebook ads or other social media ads.
- The beauty of both Facebook and Google ads is that they both started out with really low costs, with Google, in the beginning, you could pay around 5 cents per click and with Facebook you could get clicks for under 1 cent.
- Then what happened is that everyone raved about how cheap these ads were and the competition grew, along with the cost.
- LinkedIn never had that problem, because they started their prices fairly high and were really transparent about that.
- We found that LinkedIn targeting is perfect for the B2B, recruiting, higher education type of offers. You can get targeting and scaling with LinkedIn ads that you can’t get anywhere else.
How effective are LinkedIn ads for webinar promotion?
- They are an absolutely great fit! Webinars are great for getting people to know, like and trust you which really helps with conversion rates.
- On LinkedIn, you’re a little limited in where you can send people with your ads, so generally you would send them straight to a registration page.
- On Facebook, you have the benefit of low initial cost and then really solid retargeting technology, whereas LinkedIn doesn’t have that ability.
- So, if you’re going to be paying $6-9 per click on LinkedIn, you might as well send someone straight to where you want them rather than just viewing content.
How does LinkedIn ad targeting work?
- Let me just start by saying that the targeting is the reason we are willing to pay LinkedIn prices, the targeting is amazing!
- We can target by job title and most people go for this first but that also means that it’s higher competition because of that.
- But we can also target what department someone works in, what skills they have on their profile, the groups they’re members of, company size and company name, and the list goes on.
What should the ad creative look like?
- Obviously, you’re going to find a great combination of assets over time, but here’s what I would recommend to start out…
- Go with the simplest format you can, so that would be a link to your landing page, a single image with simple ad copy.
- Then you would target a single core group of your audience, the group that would feel the most pain for the topic your covering with your simple ad. So, get straight to the point for these people.
- Then you want to run that ad for 3 business days, and if it performs well and you’ve nailed your combination of targeting and offer then now you can play with the creative.
What would be a fair budget for your initial 3 day test?
- If you’re working with an agency, then I would say you probably want to spend somewhere between $3,000 and $5,000 per month.
- After you’ve spent about $3,000 you tend to have statistical significance down to your conversion rates. This will give you a good idea of whether to keep the ad running or shut it down.
- So, a 3-day test would be somewhere between $100 and $300 per day.
- If you’re doing this by yourself then there’s no reason why you couldn’t spend all the way down to $10 or $30 per day, just make sure that you have enough data at the end that you won’t be making the call too early.
What does the LinkedIn ad structure look like?
- You always want to start at the campaign level, this is where you’re defining your audience and your bid and budgets.
- Then your individual ads would do underneath this.
What is a good audience size for LinkedIn ads?
- I really like an audience size between about 20,000 and 80,000.
- If you ask LinkedIn, they will say that every audience should be over 300,000 but if you look at an audience of that size, there are probably 3 or 4 ways you could break that up into meaningful chunks.
- It’s better to break your audience down into more targeted chunks. You’ll essentially be reaching all of the same people, but you’ll be able to learn more about the small groups and how they convert.
A book that you would recommend…
Drive by Daniel Pink
What is your top success habit?
Investing in something that may not bring money right now but has potential in the future.
Who do you look up to?
Everyone in the PPC community really, love people like Joe Martinez.
What are your favourite apps right now?
Calendly is amazing for scheduling and booking.
Here’s the big one… who do you like more, Rob or Kennedy?
I’m a huge fan of gingers because of my own complexion, so yeah red-haired Rob gets the point!
Finally, where can folks go to find out more about you?
My website is B2Linked.com and if you fill out a form on the site you’ll go directly to my inbox.